John Goodall founder and CEO of Landbay

Landbay exits retail P2P funding market




Landbay has become an institutional-only platform after closing its retail investment arm and exiting the P2P lending market.

The change follows significant growth over the past two years for the buy-to-let mortgage lender, which has been driven by institutional funders and accelerated by an additional £1bn commitment.

The move will allow it to focus entirely on supporting the private rental sector (PRS) through a buy-to-let product offering.

All existing retail P2P investors have had their funds returned to their Landbay account in full, including interest.

John Goodall, founder and CEO of Landbay (pictured above), said: “Today’s [5th December] announcement means that, as a business, we can devote even more time to lending — supporting the UK’s vibrant and vital private rental sector. 

“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.”

Institutional funding now accounts for the majority of mortgages originated by Landbay in the past 12 months.

 

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