Online mortgage lender LendInvest has insisted that Scotland is a “fantastic” market for property investment as it unveiled a “strong start” for its operations north of the Border.
The London-based firm said that bridging loans completed within the first four months of establishing a presence in Scotland included £480,000 for an investor buying at the Quartermile regeneration scheme in Edinburgh, and £200,000 on a property in the west end of Glasgow, which is to be refurbished and let to tenants as a house in multiple occupation.
Peter McDermid, business development manager for Scotland, who joined LendInvest from Shawbrook Bank, said the firm has now built up a “sizeable” pipeline of further deals in both cities, covering bridging and development finance loans.
He added: “Scotland offers fantastic opportunities for property investment. But investors have been hamstrung, with little access to fast, attractive bridging finance. We are changing that, combining innovative products, a quick turnaround and local expertise.”