Landbay finds another funder
Buy-to-let lender Landbay has established a funding partnership with an unnamed deposit-taking UK bank.
As a result, Landbay said it will be able to broaden its product range – as the lender has launched a 2-year fix at 3.09% and a 3-year fix at 3.35% with a 1.5% product fee.
John Goodall, chief executive 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.”
This new funding sits alongside its existing institutional funding.