LendInvest PLC

Latest Results (06.02.2026):

LendInvest PLC — H1 FY26 (first half of financial year 2026): the company reports strong momentum across lending, platform assets and profitability. New lending grew 23% year‑on‑year to £663.6m, Platform AuM increased 17% to £3.45bn and Funded un­der‑management (FuM) reached £5.31bn. Profitability improved materially: Net Operating Income was £21.5m (+29% YoY), Net Fee Income £11.6m (+9%), Net Interest Income £9.3m (+55%) and Adjusted EBITDA turned positive at £3.7m (from -£0.3m), delivering profit before tax of £1.2m (+151% YoY).

Lending momentum

New lending: £663.6m in H1 FY26 (+23% YoY). Buy‑to‑Let and short‑term/bridging mortgages were primary drivers. Lifetime lending to 30/9/25 stood at £8.57bn.

Platform scale and third‑party capital

Platform AuM £3.45bn (+17% YoY); Third‑party AuM £2.61bn (+9%), representing 75.6% of total AuM. FuM reported at £5.31bn (+14% YoY).

Profitability and income mix

Net Operating Income £21.5m (+29% YoY). Net Fee Income £11.6m (+9%), Net Interest Income £9.3m (+55%) with Net Interest Margin up 5bps to 2.42%. Adjusted EBITDA £3.7m (from -£0.3m) and PBT £1.2m (+151% YoY).

Balance sheet and liquidity

Net assets £72.7m (+10%). Loans & advances grew 23%. Unrestricted cash reduced to £6.8m pre‑securitisation but post‑securitisation cash was reported at £11.6m (17 Nov 2025). Interest‑bearing liabilities increased 18% while corporate debt fell 3.1%.

Funding and securitisation activity

Completed the seventh annual securitisation (Mortimer 2025‑1 / Secured Income III) and issued notes including 8.25% 2030‑dated paper; raised secured issuance (reported £75m) and continue to use forward flows and SMAs as significant funding channels.

Cost efficiency and operating leverage

Headcount down 4.8% YoY and underlying administrative expenses reduced 2.8% YoY after normalising for one‑offs. The business highlights improved operating leverage with faster processing (offer‑to‑completion ~32 days) and higher underwriter capacity.

Customer retention and product moves

Buy‑to‑Let product transfer and retention improvements: BTL retention rose to 57% in Oct‑25 from 35% in Oct‑24 (a +75% relative increase). Product Transfer enhancements and digital processes are being rolled out to support retention.

Outlook

Management expects positive momentum into H2 and maintains full‑year guidance. A bond exchange will create a one‑off H2 cost but is expected to strengthen the balance sheet, lower funding costs over five years and improve medium‑term earnings capacity.