NatWest Group will operate in the limited company BTL space through the origination and funding partnership, making use of Landbay’s existing broker distribution network.
Nigel Davey, head of BTL, home buying and ownership at NatWest Group, said: “Today’s announcement is an important partnership for our Home Buying and Ownership business. Landbay’s industry expertise and market agility enables fast access to the dynamic professional landlord sector.
“Professional landlords play a critical role in ensuring the ongoing supply of good-quality housing stock. NatWest will fund a suite of BTL mortgage products to professional landlords for the first time, delivered under the Landbay brand. This represents another step in our growth strategy, which aims to make the home buying and ownership experience simpler for buyers and brokers.”
John Goodall, chief executive at Landbay, said: “This partnership deal is great news for intermediaries and their clients: it will help us broaden our offering to brokers and professional landlords – an important and growing segment of the BTL market – providing them [with] even greater choice.
“We are really looking forward to partnering with NatWest Group. It’s been great working with Nigel and his team to get the deal off the ground and help them access this market. And it reinforces the reputation Landbay has for originating, underwriting and managing BTL mortgages for other financial institutions.”
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Goodall added: “It will be a key driver of growth over the coming years.”
Earlier this year, NatWest returned to private ownership.
