Landbay has reported that it lent £6.31m across 31 mortgages in September, a record month of buy-to-let lending for the lender.
September’s lending levels were higher than the two previous months combined, due in part to both swelling inflows through the Innovative Finance ISA and mounting institutional investment on the peer-to-peer lending side, combined with a broadened range of intermediary partners on the borrower side.
Landbay has made five new hires. Among them, James Cooper-Smith and Joela Jenvey both join the lending team as senior lending officer and key account manager respectively, while Wing Chan joins the wider team as operating manager.
the lender believes its momentum of lending in September will continue into Q4 and beyond as portfolio landlords, and their brokers, look to specialist lenders to support them through the more restrictive lending environment.
As the company approaches its fourth birthday, it has now lent a total of £59.56million to professional landlords across the UK.
John Goodall, CEO and founder of Landbay said: “Over the past four years we have invested a lot of time and money into building a platform that we can be proud of. One that provides a competitive source of funding for professional landlords, a credible opportunity for investors, and is able to scale quickly to meet growing demand for specialist buy-to-let lending.
“Like any fast rising new entrant, we’ve experienced some growing pains along the way, but our track record speaks for itself and we now have all the building blocks in place to support continued expansion of the company.”