<
p>LendInvest is offering interest-free bridging loans on auction purchases when loans are repaid within a month.
The offer is open to Qualifying Loans - which are loans secured against a property purchased in England and Wales at auction - with LendInvest until 31st December.
The borrower then has up to 30 days from the completion date - which is the date on which the funds are advanced by LendInvest and are received by the borrower’s solicitor who will confirm receipt of funds - to repay the full amount to qualify.
Matt Tooth, Head of Distribution, said LendInvest preferred lending to auction buyers because they were most often experienced property entrepreneurs.
“The fast turnaround of short-term bridging finance is invaluable,” said Matt.
“Building out, therefore, our products with this audience in mind is all part of our overall business development strategy.”
Matt added that offers like this were a great way to open up products and services to more brokers and borrowers.
“We have been really pleased with the response so far to this offer which is open until the end of the year,” Matt added.
Gary Clark, Business Development Manager at LendInvest, said: “Auction finance ultimately is about the deliverance of funds in a known timescale.
“Very simply, LendInvest deliver.”
LendInvest recently announced that it was moving offices to accommodate its rapidly expanding team as well as revealing that it had made a £3.1m profit in its latest financial year.
To find out more about LendInvest’s offer click here.
LendInvest is offering interest-free bridging loans on auction purchases when loans are repaid within a month..
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