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BTL lender Landbay to focus on institutional funders

Landbay has become an institutional only platform after closing its retail investment arm and exiting the peer-to-peer lending market.

The buy-to-let mortgage lender, one of the UK’s fastest-growing peer-to-peer property lenders, had offered savers the opportunity to earn higher returns by enabling them to act as lenders by taking slices of buy-to-let property mortgages. 

But after deciding to focus exclusively on facilitating loans for financial institutions, the lender has now returned all funds to its 3,700 remaining retail investors. 

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Landbay, which remains committed to the intermediary market, will continue to fund buy-to-let mortgages and expects to significantly grow its lending operation.

Existing Landbay mortgage customers are entirely unaffected by the changes. 

John Goodall, founder and CEO of Landbay, said: “Landbay’s future is incredibly exciting as we see opportunities to grow with increased interest from our existing and new institutional investors. The announcement means that as a business we can devote even more time to lending – supporting the UK’s vibrant and vital private rental sector.

“Having said that, this is not a decision we have taken lightly. The retail business has been instrumental in our journey as a company, and we are grateful to investors for putting their trust in us.

“This decision comes from a position of growth and success, and we will continue to invest in our people, technology, and brand to build a successful business of scale.

“Our aim remains to be the go-to funding partner in the UK buy-to-let market, for institutional investors, intermediaries, and landlords.”

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