LendInvest hails '˜strong start' to Scottish operation

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.

LendInvest's deals include a bridging loan for a property at Edinburgh's Quartermile project. Picture: Contributed

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.”

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