Atom Bank and Landbay announce £500m funding partnership

Atom Bank and Landbay have entered into an origination and funding partnership totalling £500m.

As part of the new collaboration, the bank will fund up to £500m of Landbay’s prime residential BTL mortgages.

The expansion into BTL lending via Landbay is the first in a series of planned partnerships for Atom Bank as part of a programme to broaden its access to new areas of the market through distribution partners. 

This follows the firm’s strong growth, having recently surpassed £3bn of mortgage completions since its launch in 2016.

David McCarthy, chief financial officer at Atom Bank, said: “Atom has its sights set on growth, return and customer excellence. 

“Our rapid growth over the past few years has been built on strong risk management, a low cost of funding and slick processing. 

“Partnerships with specialist originators of the quality of Landbay complement our existing portfolio of products and provide us with access to new markets.

“Landbay is an ideal partner for us — not only do they share Atom’s values and a focus on an exceptional customer experience, but they’re supported by strong technology and are committed to providing market-leading products and services.”

John Goodall, chief executive officer at Landbay, added: “This partnership with Atom will help us at Landbay to extend our reach in the BTL market and broaden our offering to brokers and landlords. 

“In Atom we have a partner which shares our values and passion for improvements through technology. 

“This partnership reinforces the growing reputation Landbay has for originating and managing BTL mortgages at scale for our institutional partners. 

“It also ensures that we can continue to expand our competitive BTL mortgage offering and will help to further accelerate our growth over the coming years.”

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