Landbay’s lending team and brokers will be given access to My Home Move’s online case management service, eWay. Its objective is to simplify and speed up the completion process while keeping borrower fees low.
Using Landbay, investors choose an amount to deposit, an interest rate and a term before their money is used to fund residential buy-to-let mortgage lending across the country.
The investment is spread out across different mortgages to ensure no investor return is dependent on a specific area or property.
Once a borrower lets out their property and starts receiving rent payments, they pay a charge to Landbay, which then pays each investor their share.
Paul Clampin (pictured), Landbay’s chief lending officer, said: “My Home Move’s appointment is another of the steps we are taking to streamline our processes as our lending capability continues to scale.
“The synergy between Landbay and My Home Move is clear; we share the philosophy of leveraging technology to disrupt the mortgage market, offering borrowers an experience that is more efficient in terms of cost, time and service.”
John Goodall, chief executive officer of Landbay said: “Landbay is the only UK peer-to-peer platform to focus exclusively on the UK buy-to-let mortgage market and it was therefore important for us to find a partner with strong experience and expertise in the sector.”