LHV Bank passes £1bn SME lending milestone after 2023 launch
LHV Bank has surpassed £1bn in total lending to UK SMEs and property investors since launching its SME lending business in 2023.
The lender said strong demand from brokers and borrowers across commercial real estate, trading business mortgages and specialist buy to let (BTL) has driven growth.
Conor McDermott (pictured), director of SME lending at LHV Bank, said reaching £1bn in lending showed the bank had “moved beyond simply establishing ourselves in the market”.
He added: “Brokers and borrowers are now coming back to us with larger, more complex opportunities because they know how we approach a deal and, importantly, they know they can have a conversation with the people making the lending decisions.”
McDermott noted that the commercial market had “not been straightforward over the past few years“, with borrowers facing higher funding costs, changing valuations and increased scrutiny of cash flow.
He said growth does not come from “simply saying yes to more deals”, but from understanding “what sits behind the property, how the business performs and what the borrower is trying to achieve”.
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Looking ahead, McDermott said the lender intends to maintain the same approach as it expands.
He continued: “£1bn is a significant marker for a lending business that only began originating loans at the start of 2023, but we’re not interested in growth for growth’s sake.
“We want to keep doing good deals, support more brokers and borrowers, and make sure we maintain the service that has got us to this point.”
