Landbay launches new funding partnership; expands product range

By Megha Bhattacharya

UK-based buy-to-let lender, Landbay announced today the launch of a new funding partnership with a UK bank. The company stated that the deposit-taking bank will be funding mortgages originated by Landbay and will hold them on their balance sheet.   The collaboration is expected to allow Landbay to expand its product range and make its services available to buy-to-let investors via mortgage intermediaries.

John Goodall, CEO at Landbay, said, “This new funding partnership and our contribution to the successful Canada Square securitisation earlier this month, together with the measures that we have put in place over the past three months, means that Landbay is one of the few lenders emerging from the pandemic stronger than we went in. We have continued to lend throughout the year, including throughout the lockdown.

“At the end of March, we became the only, purely buy to let mortgage lender to make it into Tech Nation’s Future Fifty index of the UK’s most successful tech companies, placing Landbay as one of the leading FinTech companies in the country. We are continuing to strengthen our already robust lending model and innovative platform from which we lend.”

The lending platform also announced the launch of Special Edition products, including  2 year fixed rates from 3.09%, 5 year fixed rates from 3.35%, and all with a 1.5% product fee.

Established in 2014, Landbay is a lending platform for prime residential buy-to-let mortgages, with funds originating from institutional investors. It is an FCA regulated company, a member of UK Finance, and is based in London (UK).

Ying Tan, founder and chief executive of Dynamo, said, “Landbay is rapidly becoming one of the leading specialist buy-to-let lenders in the market. This new funding line and successful recent securitisation shows the faith that the financial markets have in Landbay and its origination model. It is a very positive sign for the future of buy-to-let.”