Landbay passes £100m mortgage lending barrier

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  • 07/03/2018
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Landbay passes £100m mortgage lending barrier
Landbay has revealed that over the last six months it almost doubled its previous lending total to break past the £100m barrier.

In September the specialist lender reported it had completed £59.56m worth of deals since launch in 2014.

However, CEO and founder John Goodall said the last six months had been a “real step change” and that reaching £100m was just the beginning.

“Lenders have been falling over themselves to help landlords and their brokers navigate an increasingly complex buy-to-let market, but it is the specialist lenders that have taken it in their stride,” he said.

“If doubling our total lending volumes in the past six months isn’t proof enough that the specialist lending model is well suited to the current climate, then the fact that traditional lenders have been propped up by the Bank of England’s Term Funding Scheme should be.

“As the scheme comes to an end and mainstream lenders can no longer rely on this source of cheap capital our proposition will become yet more competitive. I look forward to running with the opportunity this brings,” he added.

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