John Goodall

Landbay agrees funding deal with asset manager

BTL lending platform Landbay has closed an additional funding deal with an undisclosed asset manager.

Landbay now has funding for its BTL mortgages from three different streams: an investment bank-sponsored securitisation programme, deposit-taking banks, and the asset manager.

The asset manager aims to fund in excess of £300m per year of Landbay’s originated mortgages.

This is on top of the bank funding deal that Landbay announced in July, and the £1bn funding it revealed in mid-2019.

“The addition of an asset manager as one of our funding partners is a major step to further diversify the funding of our mortgage platform,” said John Goodall, CEO at Landbay (pictured above).

“This reinforces our ability to provide mortgages to a broad range of BTL investors and their advisers.

“This is particularly important as we are only four months away from the end of the stamp duty holiday, and demand for our BTL mortgages is higher than we have ever seen it.”

Last month, the platform refreshed its BTL product range in response to high levels of demand, including free valuations on its standard five-year fixed rate.

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