As we approach our first birthday we’ve taken a moment to look back on the last 12 months and the exciting evolution of Landbay so far.
We are the UK’s fastest growing P2P platform (AltFi Data, June 2015) and the partnerships we have formed show that we are maturing from startup to enterprise.
In July 2014 we completed our first loan of £178,938.00. Fast forward 12 months and we have just taken over the funding of the Keystone BTL Mortgage range, a channel that was previously funded by Aldermore Bank. Our agile, high-quality service coupled with a low overhead structure is what differentiates us from the banks and has enabled us to step into a role that they have previously occupied. We expect to fund more than £200m of Keystone mortgages in 2016 and will be doing so via the largest annual funding line secured by a UK P2P platform – £250 million p.a.
We are one of only 9 platforms accepted into the Peer-to-Peer Finance Association (P2PFA) where we are working together to set industry standards in the emerging P2P market. We have also teamed up with other alternative finance pioneers via Innovate Finance and the UK Crowdfunding Association (UKCFA), as well as established mortgage lenders and banks via the Intermediary Mortgage Lenders Association (IMLA).
It was always our intention to set P2P standards in transparency, one of our guiding principles. In December 2014 we put our loan book through a rigorous independent stress test which is documented in our ‘Democratising Mortgage Lending’ report. This was followed up with the publishing of our full loan book, including borrower rate, available for anyone to download on our Statistics page.
We were an Everline Future 50 Business Winner and The Times featured us in the ‘Top 10 UK Startups to Watch’ – small things that have made us quite proud!
We look forward to continuing our journey with our lenders, investors and partners over the coming months and years.
“Landbay is currently the only P2P platform that offers a protection fund, auto diversification of funds, security of tangible assets and doesn’t permit investing money with a single borrower or project. The returns on offer from Landbay may be lower, but the overall risk management initiatives to protect customers’ money are the most comprehensive in the market”. Andrew Hagger, Independent personal finance analyst at MoneyComms
“In the space of just over a year, Landbay have assembled a team with deep expertise in the BTL market, have identified ways to provide a better user experience to borrowers while at the same time providing investors with long duration, attractive risk-adjusted returns. Focused on BTL mortgages, one of the largest credit segments, Landbay is perhaps the most rapidly scalable of the UK platforms and certainly one to watch particularly from an equity investment perspective.” Cormac Leech, Liberum
“John Goodall and Gray Stern are the creators of Everline Future 50 entrant Landbay, a business disrupting P2P lending and the buy-to-let property sector, having realised the particular real estate market was strong enough to provide funding with very low risks involved.” Everline Future 50
“It has been a real pleasure over the last year to work with John, Gray and their talented team. Their hard work has delivered that most rare of things in the mortgage market – true innovation. I am looking forward to our ongoing efforts together which I know will deliver even bigger achievements over the next few years.” Tony Ward, Landbay Chairman
“Landbay could be set for rapid growth… This strikes me as an interesting capital growth, equity based story.” David Stevenson, Editor, Altfi News.