Lendco is a private equity-backed specialist mortgage lender, focussing on UK buy-to-let and bridging mortgages to experienced property landlords and professionals.

Since its inception in 2018, Lendco has originated over £1.8bn in loans and has experienced no capital losses as well as remarkably low arrears. This is attributed to its targeted approach, working with high calibre borrowers in possession of multiple properties.

The company was originally formed as a joint venture with SPF Private Clients, the brokerage unit of Savills plc that services high-net-worth clients, as well as Cabot Square Capital, the private equity firm backing the business. Cabot realised the SPF investment in 2022, opting to hold Lendco due to its strong growth potential.

Loans are sold to private warehouse facilities where they sit until utilisation reaches a certain size (c.£350m), at which point it can be securitised in the public capital markets. To date, Lendco has executed three public securitisations and plans to be a programmatic issuer in the securitisation market.

Their £20 million MTN programme was established in October 2023 and we have raised multiple series since then. The programme is a holdco-style facility whereby proceeds can be used as equity capital in the private warehouses. Programme security predominantly comprises the high-quality cash flows derived from Lendco’s residual interests in its securitisations.