Landbay backs Keystone
In a year since its launch Landbay’s deal with Keystone is expected to add £200m to its loan book in 2016.
Landbay has targetted lending £1bn per annum and 100,000 customers by 2018 as it looks to press on with its rapid growth.
John Goodall, cofounder and chief executive of Landbay, said: “Our combination of industry-leading technology and experienced underwriters means we can offer a fast, agile service at a lower cost than the banks we are competing with – and our peer-to-peer funding model allows anyone to benefit from the strength of the buy to let mortgage market.”
Landbay chairman Tony Ward said it has brought “true innovation” to the mortgage market.
He added: “I am looking forward to our ongoing efforts together which I know will deliver even bigger achievements over the next few years.”
In 2015 April Landbay secured £250m of annual funding from institutional financiers.
It has worked with other alternative finance pioneers via Innovate Finance, as well as established mortgage lenders and banks via the Intermediary Mortgage Lenders Association.