Future of Finance
JPMorgan Funds $686 Million in Mortgages Through London Fintech
- Bank will fund property loans on LendInvest’s online platform
- A vote of confidence in U.K. market amid Brexit and pandemic
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JPMorgan Chase & Co. has agreed to fund 500 million pounds ($686 million) in U.K. home loans originated by London-based fintech LendInvest Ltd.
The U.S. bank will use LendInvest to finance properties that will be leased, known as buy-to-let loans, according to a statement Thursday. LendInvest has loaned more than 3.5 billion pounds online since its inception about a decade ago, pocketing a fee on the mortgages it sets up.