Peer-to-peer property lender LendInvest has launched a new three year mortgage to directly challenge the high street banks' dominance of the £1.2trn mortgage market.

The medium term mortgage is aimed at property investors that are fed-up with the expense of short-term bridging loans and the time it takes to repay traditional high street mortgages. The three year mortgage is being launched in response to interest expressed by both investors and borrowers that were looking for a flexible and commercially viable medium term loan.

It aims to give mortgage borrowers a flexible medium solution to their financing challenges whilst also providing a strong rate of return to investors of around 5-7% net per annum.