Fast-growing Fintech Landbay says October was a great month for the real estate peer to peer lending platform. Without providing any details, Landbay tweeted out the news.
Earlier this year, Landbay reported that a “leading financial institution” had committed to funding £1 billion in buy to let mortgages originated on the site. This may have something to do with its growth.
We’ve had a treat of an October with a record month at Landbay! A big thank you to our terrific team, incredible intermediaries and perfect packager partners for all your hard work and support. pic.twitter.com/7i2CJed58Z
— LANDBAY (@LandbayUK) October 31, 2019
Landbay offers investors the opportunity to invest in loans to buy-to-let landlords. All loans are secured by first‐ranking mortgages over tenanted residential properties across England and Wales.
The P2P lender currently promotes up to a 3.45% return for investors. In a historically low interest rate environment, these returns are far higher than a savings account for some additional risk.
According to Landbay’s statistic page, since platform launch, the site has originated over £360 million for more than 1500 mortgages. Default rates sit at zero.
Landbay is not just a Fintech platform but is also a beneficiary of crowdfunding having raised capital online multiple times.