Lendlord launches partnership with Selina Finance
Online platform Lendlord and digital lender Selina Finance have announced a new collaboration to provide Lendlord’s users with flexible portfolio financing solutions.
Selina Finance offers overdraft-style credit facility up to £1m, enabling portfolio landlords to borrow against the equity tied up in their investment properties. Selina Finance can secure on multiple properties via first, second, or third charges, allowing investors to cherry-pick which properties they want to offer up as security. Their facility works as a revolving credit facility serviced on an interest-only basis for a 3-year term, and is highly flexible – landlords/investors can draw and repay funds whenever they choose, only paying interest on the drawn balance. Additionally, they have no early repayment charges or valuation fees, and an application to funding turnaround in as little as five working days.
Lendlord provides property investors with an online platform to manage and track their portfolio details and performance whilst also identifying finance opportunities based on a user’s specific profile. Since its launch several months ago, Lendlord has helped thousands of landlords to track the performance of their portfolios and improve the bottom line of their investment. The collaboration will combine both technologies to tailor the right product for a property investor, based on their individual profile.
The UK property market has seen a surge in recent months after the lockdown period earlier in the year ground it to a halt. Government intervention has helped boost the market, with lots of buyers looking to take advantage of the Stamp Duty holiday announced by the chancellor in July. There has never been a better time for portfolio expansion for property investors, and one of the aims of this partnership is to make this process easier for Lendlord users.
Aviram Shahar, co-founder and CEO at Lendlord, said: “We are very excited to have the opportunity to work together with Selina Finance, which has a unique offering for property investors. This collaboration emphasises the continuous effort we invest to increase the value our platform provides our users.”
“Lendlord provides landlords with the data they need to best manage and improve the performance of their portfolio and, through this data, it can also identify and suggest the most appropriate financial products for their individual circumstances. It was a natural fit, therefore, to embed a digital loan offering like Selina Finance, which is equipped to provide flexible and affordable finance to meet the changing needs of landlords.”
Andrea Olivari, co-founder at Selina Finance, said: “We’re very excited to be partnering with an innovative property management solution like Lendlord. The property investor ecosystem is a fast-growing space, and tech-enabled solutions are making professional and semi-professional landlord’s lives a lot easier. Selina’s portfolio lending solutions are doing the same by offering a fast, flexible, and cost-effective funding facility for an array of property investment purposes.”