Mortgage lender Landbay is leaving the P2P funding market to favour institutional investment.
This follows a £1bn funding agreement.
All existing retail investors have had their funds returned in full to their Landbay account including interest.
COO Julian Cork spoke to us exclusively on the matter.
“With the continued modularisation of financial services and our strong track record of high quality origination, we are seeing a significant increase in demand from institutional investors and the move enables us to focus on this element of our marketplace. We maintain the Landbay vision to be the leading BTL lending platform – meaning that we are the go-to lender for brokers and the partner for choice for those that want to invest in BTL mortgages.”