Landbay has partnered with Allica Bank to receive £1bn over a five-year period to fund its buy-to-let portfolio.
The challenger bank will provide £200m a year for residential buy-to-let mortgages originated by Landbay.
The latest deal follows on from the £300m of funding Landbay secured in November from an unnamed asset manager and another £1bn deal in July 2019.
John Goodall (pictured), CEO at Landbay, said: “This partnership will ensure that we can continue to provide some of the most competitively priced, buy-to-let mortgages in the market.
“We are really pleased to be working with Allica who have similar values to Landbay and also have a real customer focus.”
Richard Davies, CEO at Allica Bank, added: “We are delighted to partner with Landbay, extending our strong commercial lending expertise into the residential sector, enabling us to support even more people who are seeking access to finance.
“This partnership is an important step forward in accelerating Allica’s impressive growth potential, leveraging our unique skills and expertise in lending underpinned by the robust and solid foundations we have built.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS