LendInvest feels lift of buoyant housing market
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Fintech lender LendInvest has reported a boost in assets under management today as a buoyant housing market drives demand for its buy-to-let products.
The London-listed alternative lender passed £2bn assets under management in January, a 36 per cent uptick on 2021 levels.
Funds under management meanwhile, which represent committed and deployed capital, increased by 18 per cent year-on-year.
Boss Rod Lockhart said it had been a strong year for the firm.
“We have continued to achieve strong growth in Platform AuM and FuM, driven by the success of our innovative, proprietary technology and strong demand for our Buy-to-Let products,” he said.
“It was a huge achievement to pass the £2 billion Platform AuM milestone in January. It took more than 10 years to reach £1 billion of Platform AuM in July 2019 and only 30 months to double it.”
Bosses said they predicted a buoyant period ahead with housing market conditions remaining “favourable” despite the recent base rate hikes.
Lendinvest’s results come amid a frenzied sellers market with house prices being driven to their highest level since records began.
The Halifax house price index rose 11 per cent year-on-year as booming demand outstripped the amount of homes on offer.