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LendInvest reports £3.4m profits and growth in lending

UK-Houses-Home-Mortgage-700x450.jpgLendInvest has posted a third consecutive year of profits at £3.4m for the year to March, up from £3.3m the previous year.

The online lending and investing platform says its gross revenues increased 133 per cent to £32m, from £14m the previous year.

It says total annual lending was up 84 per cent to £32om from £174m previously.

Stephan Wilcke (former executive chairman of OneSavings Bank) has joined as a senior adviser

The business now manages almost £300 million on behalf of individual and institutional investors and has lent over £750 million to property investors.

Co-founder and chief executive Christian Faes says: “These financial results clearly spell out that LendInvest is a FinTech company that’s built on solid foundations, is financially stable, and is going to be around for the long haul.

“In light of the headwinds that the Brexit vote has caused for the UK’s economy, it’s been particularly rewarding to see customer demand for our products still growing and we look forward to building on this positive momentum in the next year.”


Norrington to replace Winter as Ipswich chief executive

A former regional director for Clydesdale and Yorkshire Bank has been appointed as chief executive (designate) of Ipswich Building Society. Richard Norrington (pictured) will assume the role in December, following the retirement of current chief executive Paul Winter, who has led the business since 2007. Norrington has held leadership roles in the financial services sector […]

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FCA to study headline mortgage offers and commercial arrangements

Headline mortgage offers and commercial arrangements between various factions in the industry are to be analysed by the Financial Conduct Authority as part of its study into competition in the sector. Speaking at Imperial College Business School on Wednesday, FCA executive director Christopher Woolard said firms may exploit the difficulties that consumers have in making […]


Private rental demand cooling: BM Solutions

Demand from UK residential renters is flattening off, according to research from BM Solutions. The research shows that 45 per cent of landlords saw no change in demand from tenants in the second quarter compared to the first. Meanwhile, London was the only area of the UK to see a fall in demand. More than […]


Belmont Green to trade as Vida Homeloans

New lender Belmont Green will trade as Vida Homeloans, according to chief executive David Tweedy. The company was launched earlier this year by Tweedy and Guy Batchelor, but will not start lending until later in 2016. Vida Homeloans chief executive David Tweedy, who was market relations director at Target until October, says: “We can confirm that […]


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