"Given the current political and economic situation, this funding is a huge vote of confidence in both the UK’s private rental sector and Landbay itself. "
Landbay says the funding from an unnamed institutional investor will support plans to significantly grow its buy-to-let loan book.
The funding announcement follows the increase of Landbay’s loan ceiling to £2 million and its maximum loan term from 25 to 30 years.
John Goodall, CEO of Landbay, said: “Given the current political and economic situation, this funding is a huge vote of confidence in both the UK’s private rental sector and Landbay itself.
“Demand for high quality rental properties is high and unlikely to slow down any time soon. The reality is that many tenants are keen to distance themselves from the hassle and cost of homeownership. In fact, we know that renting is increasingly seen as a lifestyle choice rather than the default option.
“Landlords are vital for the UK’s economy, and this sizeable injection of capital will allow us to support even more of them and their brokers.”
