A new peer-to-peer lending platform aimed solely at investment in the UK buy-to-let market has launched.
Landbay is the only platform where lending is exclusively for Buy-to-let mortgages on UK residential property, with all lenders enjoying the security of a first charge on the property.
John Goodall, co-founder and CEO of Landbay said: “For lenders (‘savers’), Landbay is ‘democratising investment’ in the buy-to-let arena via its minimum outlay of just £100 – opening the door for a much wider cross section of the British public to enjoy attractive, low risk returns from the UK’s favourite and best known investment asset – residential property.”
Landbay said the low minimum investment per property makes it very easy for lenders to reduce their risk further by diversifying their lending across different kinds of property, and across different regions, as well as different risk/reward levels.
David Whittaker, managing director of UK specialist broker Mortgages for Business, said: “Interest rates at Landbay are highly competitive, with individual lenders competing between themselves to provide borrowers part of the mortgage.
“The Landbay automatic auction process ensures borrowers are always going to get the very best deal possible from those lending on Landbay. Landbay’s fees are transparent and fair, with nothing nasty hidden in the small print.
“We’re delighted to be the only broker to work directly with Landbay. Our recent property investor survey revealed that experienced landlords in particular are keen to embrace alternative lenders with a common sense approach to risk and reward.”