Landbay has become the first peer-to-peer lender to be invited to join the Council of Mortgage Lenders (CML) as a full member.
Following Landbay’s replacement of a high street bank as the major funder for the Keystone Buy to Let New Classic Range earlier this year, the platform’s lending is expected to increase significantly in the coming months.
John Goodall, CEO of Landbay, said: “While our business model is highly innovative, our approach to mortgage lending standards are founded upon industry expertise. The CML provides a fantastic network and resource for us to use in fortifying our lending processes as our lending picks up pace.”
Paul Clampin, chief lending officer of Landbay, added: “We are looking forward to being involved in the effective work the CML conducts with the government. We are already doing this on the peer-to-peer side of our business via the P2PFA and we are excited to play a tangible role in the development of future changes to mortgage legislation.”