Online mortgage lender LendInvest has confirmed that it has completed a number of bridging and development deals in Scotland after its launch four months ago.
Deals include a £480,000 bridging loan to an investor buying in the Quartermile area of Edinburgh where the investor needed to move on the same day the application was received.
Another was a £200,000 bridging loan on a property in the West End of Glasgow, which is to be refurbished into an HMO.
Matthew Tooth, head of distribution at LendInvest, said: “LendInvest is quickly building a reputation for speedy, efficient financing north of the border.
“The reaction since we formally launched in Scotland has been fantastic – there is a clear demand for the LendInvest model of a varied product range of competitively priced loans and outstanding customer service.
“But this is just the beginning. We want to be the first lender Scottish brokers and their clients turn to when they need short-term property finance.”
In June LendInvest recruited Peter McDermid from Shawbrook Bank as a business development manager for Scotland.
McDermid said: “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.”