Buy-to-let lender seeks intermediary expansion following securitisation

Lendco has completed its inaugural securitisation of a £300m portfolio of buy-to-let mortgages.

Related topics:  Mortgages
Rozi Jones
27th January 2021
growth tree rings
"We aim to continue to grow Lendco in 2021 and we will need to increase our breadth of distribution to do that."

The deal comes just over two years since the specialist lender first opened its doors, offering mortgage and bridging finance to experienced property investors and professional landlords.

Since agreeing its first loan in September 2018, Lendco has completed nearly 1,200 loans totalling £460 million.

Lendco works with a select group of intermediaries, having lent via a panel of less than 70 firms so far, but plans to increase its distribution in 2021.

Simon Knight, managing director of Lendco, said: "We have achieved a great deal in a relatively short time but in a very measured way. Our focus is always on quality and we were delighted to get such a great reception from multiple UK and EU investors, ending up being four times oversubscribed for our inaugural securitisation. The Lendco story of manual underwriting and outstanding credit performance has gone down extremely well.

"We aim to continue to grow Lendco in 2021 and we will need to increase our breadth of distribution to do that. We have just launched a highly competitive new product range and have had a great start to the year with January looking like it will be a record month for applications."

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