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LendInvest to begin lending in Scotland

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Peer-to-peer lender LendInvest is to start doing business in Scotland.

Its existing residential bridging and short-term buy-to-let products will be available to borrowers in Scotland seeking loans to a maximum LTV of 70 per cent and terms of up to three years.

Eventually, the short-term lender plans to launch a Scottish office with local sales, underwriting and case management staff.

It currently lends in London and the south east, although it plans to expand to the West Country, the Midlands and the north west throughout 2016.

Co-founder and chief executive Christian Faes says: “It has always been our intention to be a lender that brings smart and efficient underwriting practices to mortgage deals throughout the UK. Making Scotland the first launch location for the company outside London puts a marker in the sand for the sort of expansion we are envisaging.”

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