Landbay receives FCA authorisation

Peer-to-peer (P2P) lender Landbay has announced it received full authorisation from the Financial Conduct Authority (FCA) on 22nd December.

The firm follows P2P lenders Folk2Folk and LandlordInvest in acquiring authorisation before the end of 2016.

This year, the platform intends to launch its Innovative Finance Isa.

John Goodall, CEO and co-founder of Landbay, said: “We are pleased to confirm that the FCA has granted Landbay its full authorisation for peer-to-peer lending.

“For the past 14 months we have worked hard in collaboration with the regulator.

“As our industry continues to grow and mature, it is only right that regulation should evolve in line, and we welcome the detailed approach the regulator has taken throughout the process.

“This is a significant milestone for Landbay and we look forward to launching our property-backed Isa before the end of the tax year.”

In October last year, Landbay launched an online rent check tool for landlords and tenants.

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