The borrower had a strong track record in securing complex, value enhancing planning permissions for the development and subsequent rental of properties for the holiday market but needed the capital to complete the development of a large farmhouse and numerous out-buildings.
LendInvest offers buy-to-let mortgages to professional landlords on properties based in England and Wales, offering flexible underwriting for portfolio landlords and can mortgage up to 20 properties with an aggregated borrowing of £5m.
From today, Paradigm member firms will have access to Newbury’s product range which covers residential, buy-to-let and shared ownership/shared equity mortgages.
It’s situated in the middle of the famous Brooklands racing circuit in Weybridge, the competition gives intermediaries the opportunity to pilot Concorde in the simulator, where they can take off, fly and land the iconic aircraft at four major airports – Hong Kong, Sydney, New York and London Heathrow.
Landbay’s Rental Index, powered by MIAC, showed hotspots for rental growth over the last 12 months include Edinburgh City (5.97%), Nottingham (4.28%), and Blaenau Gwent (3.76%).
The ‘W2’ postcode district, which encompasses Paddington and Bayswater, was ranked the second most searched for location for a rental home in the capital whilst the postcode area including the South Bank, Bankside, Bermondsey & Waterloo (SE1) came third.
It has been opened by business partners Lee Griffiths and Lee Chiswell, who have already taken on two more advisers since opening and will take on a third next month.
Launching in 2019, LendInvest’s first home loan product will be available to homeowners that require short-term bridging finance for terms up to 12 months.
It warned that EU citizens may face problems getting rented accommodation after Brexit. Ministers have failed to publish any guidance for landlords about the implications of Brexit for the Right to Rent scheme.
The programme is supported by Goldman Sachs Private Capital and was originally launched in January 2017 to fund the origination of residential and commercial bridging loans.