LendInvest signs servicing partnership with Pepper
Pepper UK will service LendInvest’s loans in a partnership between the pair.
In Autumn LendInvest’s loans will be migrated to Pepper, though loans that require special servicing such as arrears will still be handled by LendInvest.
Christian Faes, co-founder and chief executive of LendInvest, said: “Collaborating with a hugely experienced loan servicing business like Pepper marks an important stage of development for the LendInvest business.
“Not only does working with Pepper improve our own operational efficiencies, but the partnership promises significant benefits for both borrowers and investors.
“For instance, borrowers will have access to a deeply experienced and dedicated team of servicers throughout the term of their loans.
“Investors too will be comforted to know that our loans are serviced by a highly experienced and regulated servicer, making it easier for institutions in particular to invest in whole portfolios of loans.”
LendInvest said borrowers and advisers will see benefits from the partnership as interest will be calculated on a daily rather than monthly basis, while Pepper will help the lender expand its range of products for investors and developers.
Richard Klemmer, chief executive of Pepper UK, said: “We have worked very closely with the LendInvest team as it has expanded over the past twelve months and are confident that with Pepper on board, the service and experience received today by LendInvest clients will only be enhanced by our long-term partnership.”
Pepper UK is part of the Pepper Group, a major listed Australian company managing over £32bn of assets across its servicing and lending businesses on behalf of 600,000 customers around the world. Also in the group is specialist lender Pepper Homeloans.