Near prime peer-to-peer lender for buy-to-let and bridging loans, LandlordInvest, is set to launch within the next few weeks with a target of a £1bn loan book in five years…..

Near prime peer-to-peer lender for buy-to-let and bridging loans, LandlordInvest, is set to launch within the next few weeks with a target of a £1bn loan book in five years….

 

LandlordInvest was founded by Filip Karadaghi and Nik Smirnovs to bring together the unserved borrower segment, near prime borrowers and lending markets.

The P2P lender will be the first platform to have both buy-to-let mortgages and bridging loans available on its lending platform, and will also remove the minimum income requirement as the company believes loan affordability should be based on rental income. 

Filip told Today’s Landlord: “We founded LandlordInvest as we believe that P2P lending is changing the lending industry and making capital easier and quicker accessible to borrowers.

“More  specifically, we intend to bridge the gap between an unserved borrower segment, near prime borrowers and the lending markets. 

“We will consider borrowers with a nearly perfect credit history that have had, due to an unexpected life event such as a divorce or illness, a one off adverse credit event making it difficult for them to access financing from other lenders.

“It should be noted that we will only consider borrowers that can explain and evidence the reason(s) for an adverse credit event and we will not considers borrowers which had an adverse credit event(s) due to poor financial management.”

Filip also said that LandlordInvest’s lenders would potentially be able to achieve higher returns than they would with other P2P lenders as the company would be able to provide finance for a more risky segment - near prime borrowers.

“We are targeting a loan book of £1 billion over the next five years,” said Filip. 

“We have been labelled as LendInvest’s competitor, but I do believe that we differentiate from them through our unique proposition.”

LandlordInvest will offer:

  • BTL mortgages between £30,000-£200,000 with a term up to five years with an LTV of up to 75%
  • Bridging loans between £50,000-£300,000 with a term up to 18 months and LTV up to 75%

LandlordInvest will launch as soon as it received FCA authorisation which is expected over the next few weeks.

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