Landbay stands out as a remarkable and highly professional specialist lender. Its innovation, market-leading products, introduction of a 2-minute DiP and free title insurance, immediately marks it as exceptional. Add to that state-of-the art technology combined with its human touch, and the fact that it has stayed within its SLAs all year, and it clearly stands head and shoulders above its peers.
These factors meant that Landbay could continue to lend throughout the lockdown. In fact, it continued to innovate and launched its 2-minute Decision in Principle at the start of the lockdown.
A key element that makes Landbay a lender here for the long term is its diversity of funding. While other specialist lenders were forced to leave the market, Landbay continued to add in new funding streams offering a diverse mix of on balance sheet lending with institutional funding. This means that Landbay will remain robust enough to continue lending despite another lockdown or whatever else may come our way.
As a result of this funding its products have remained market leading. Its buy-to-let mortgage with no early redemption charges stood out and, perhaps unsurprisingly, became its most popular product. It also extended its maximum age limit to 95 years old for limited company directors to make its mortgages accessible to every age group and extended its maximum loan size to £2million
Landbay has one of the most technically advanced operating platforms in the mortgage market, which not only enabled its staff to all seamlessly transfer to working from home, but it ensured the maintenance of its high service standards. Because of this, Landbay has operated within its service level agreements (SLAs) throughout the pandemic and continues to do so.
It also introduced Free Title Insurance in order to speed up turnaround times further and save borrowers money.
It provides a 100% online process from start to finish, offering an instant decision in principle, clone case function to speed up portfolio-based purchases, and Docusign functionality for one-click case submissions. These innovations ensure placing a mortgage with Landbay is both quick and efficient.
But Landbay hasn’t lost its personal touch, brokers have direct access to BDMs and the underwriting team. Each broker has a dedicated BDM who will work with them to find a solution. It also offers a tailored approach to underwriting so it secures funding faster while offering brokers all the support they need.
Because of these measures, Landbay is seeing record volumes, even exceeding those pre-lockdown levels.