LendInvest has launched a structured property finance team to provide tailored solutions to complex, large property deals.
The online property lender said that the new team will offer larger bridging loans including land and commercial security, as well as development exit and development finance.
Sales director Tom Madden will lead the team alongside senior business development managers Gary Clark and Michael Minnie. Altogether the trio have over 55 years of specialist property finance experience.
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“The creation of the new structured finance team is a natural step for the business, and a formalisation of a lot of the work the team have been delivering to date,” Madden said in a blog on LendInvest’s website.
“This launch builds on the team’s successful track record of understanding our borrower’s businesses, helping our brokers add significant value and providing a tailored experience for professional property investors and small- and medium-sized enterprise developers.”
During the Covid-19 pandemic, LendInvest has outlined the benefits of development finance for borrowers, including long loan terms and cheaper rates which prove useful for developers that need longer to sell units in difficult market conditions.
At the start of the crisis, the lender tightened its lending, including reducing its maximum loan-to-values (LTVs), across its product offerings.
Then last month, the platform increased its maximum LTVs, indicating that confidence was starting to return to the property market as lockdown restrictions eased.