LendInvest has completed a series of both bridging and development finance cases in Scotland, following its launch north of the border four months ago.
Deals completed include a £480,000 bridging loan to an investor buying in the Quartermile area of Edinburgh. The investor needed to move quickly; on the same day as the application was received, LendInvest not only approved the case but also instructed both valuers and solicitors.
The lender also completed a £200,000 bridging loan on a property in the West End of Glasgow, which is to be refurbished into an HMO.
In addition, LendInvest has built a pipeline of further deals in both cities encompassing bridging and development finance loans.
Matthew Tooth, head of distribution at LendInvest, said: “LendInvest is quickly building a reputation for speedy, efficient financing north of the border. The reaction since we formally launched in Scotland has been fantastic – there is a clear demand for the LendInvest model of a varied product range of competitively priced loans and outstanding customer service.
“But this is just the beginning. We want to be the first lender Scottish brokers and their clients turn to when they need short-term property finance.”
Peter McDermid, business development manager for Scotland at LendInvest, added: “Scotland offers fantastic opportunities for property investment. But investors have been hamstrung, with little access to fast, attractive bridging finance. We are changing that, combining innovative products, a quick turnaround and local expertise.”
