A Buy To Let Mortgage Lending Platform
Business overview
Location | London, United Kingdom |
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Social media | |
Website | landbay.co.uk |
Sectors | Finance & Payments Mixed Digital/Non-Digital B2B |
Company number | 08668507 |
Incorporation date | 29 Aug 2013 |
Investment summary
Business highlights
- Landbay has funded in excess of £1bn of mortgages
- Diverse institutional funding base on the platform
- Won multiple industry awards and rated "excellent" on Trustpilot
- Over seven years of operating in the market
Idea
Introduction
Landbay is a Buy-to Mortgage lending platform. We match institutional investors’ money into BTL mortgages that we originate and manage.
We launched in Spring 2014 as a peer to peer platform. In June 2017 we started deploying institutional capital and in December 2019 we closed down the retail p2p platform to concentrate on institutional investors.
We provide investors access to a flow of whole-loan high quality BTL mortgages that can be securitised or held on balance sheet. Landbay operates a Marketpace model. Landbay does not deploy any of its own balance sheet nor take any credit-risk.
We have completed over £1bn of mortgages to date.
We believe we now have the mortgage funding, technology and capacity to grow significantly in this £280bn market.
Substantial accomplishments to date
We have built a broad funding base with Retail Banks, Investment Banks and Asset Managers. This means that our loans can get funded via securitisation, capital markets or via bank deposits.
We have grown our origination capacity significantly over the last few years - we are now whole of market with most of the major broker networks & clubs partnering with us. We have an experienced Sales Team that covers all of England & Wales that we have hired from leading BTL lenders.
We have won multiple awards including Best BTL Lender at the 2021 Mortgage Strategy Awards and for the last 3 years running at the Mortgage Introducer Awards.
We have a TrustPilot Score of Excellent (4.8).
We have 5,600 registered brokers on our platform - an increase of 145% since beginning of 2020.
Monetisation strategy
Landbay charges borrowers a fee at the time of funds being drawn down, typically 1.5-1.75% of the loan amount.
In addition, Investors in the loans pay an origination fee and ongoing servicing & performance fees.
As our AUM grows, we intend to build significant recurring income in the business (as the platform fee we receive layers up month-on-month). We see this as a key benefit of operating in the mortgage market where loan terms are longer than most other forms of loans.
We do not take any direct credit or pricing risk.
Use of proceeds
We intend to use the proceeds of this funding round for general working capital purposes as we continue to grow the business. Our expenses are anticipated to break down as follows (approx):
• Technology - 40%.
• Marketing & Brand Development - 30%.
• General Operating Expenses - 25%.
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