Landbay has announced a new hire in Paul Clampin appointed as Chief Lending Officer. Clampin joins the peer to peer lending platform from Paragon Group and is said to have over 30 years of industry experience. While at Paragon, Clampin was Director of Mortgage Underwriting.
Landbay states it has upgraded its growth plans significantly, with Clampin having an important role to play in overseeing the scaling up of Landbay’s underwriting capacity. This follows Landbay’s recent announcement that it is the first peer-to-peer platform to put its loan book through Bank of England standard stress testing, with results reflecting no losses to the platform’s lenders. Landbay also launched their Rental Index last week.
John Goodall, Landbay co-founder and CEO explained they expect to see lending volumes increase “substantially” in the next 18 months. “Attracting people of Paul’s calibre is a testament to the strong foundations we have put in place for Landbay and means this business is ready to enter a new phase in its growth,” said Goodall.
Landbay expects to achieve a £1bn in lending per annum by 2018.