Landbay secures £300m annual funding

The firm said it had secured the deal with an asset manager which it could not name and that it aimed to fund “in excess of £300m per year” of deals.

It said the entire deal, including due diligence, was conducted remotely with the performance of Landbay originated assets over the course of the crisis examined in detail.

The deal is in addition to the bank funding deal that Landbay announced in July and the £1bn funding deal it announced in mid-2019.

Landbay CEO John Goodall said: “The addition of an asset manager as one of our funding partners is a major step to further diversify the funding of our mortgage platform and makes us probably the most diversely funded buy-to-let lender in the UK.

“This reinforces our ability to provide mortgages to a broad range of buy-to-let investors and their advisers.

“This is particularly important as we are only four months away from the end of the stamp duty holiday and demand for our buy-to-let mortgages is higher than we have ever seen it.”