Landbay forms deal with Mortgage Compliance & Insurance Club

Buy-to-let mortgage lender Landbay has entered a partnership with The Mortgage Compliance & Insurance Club (MCI Club).

Through the deal, MCI Club’s intermediaries will access a range of products suited for portfolio landlords, HMOs, MUFBs, first time landlords, limited companies and new build properties. Its brokers will also be permitted to use Landbay’s online intermediary portal which offers case tracking features and a property portfolio key, among other services.

Landbay completed the partnership as part of its ‘commitment to serving brokers across the UK.’ It comes after regulatory changes have deterred a number of mainstream lenders from the buy-to-let market, Landbay said.

Established in 2014, MCI Club supplies intermediaries with access to lender, insurer and product providers, as well as benefits and discounted software solutions. Clients can utilise MCI Club for compliance support, general insurance, mortgage CRM, life proposition, and specialist mortgages.

MCI Club managing director Phil Whitehouse said, “Our philosophy aims to offer our intermediaries market-leading benefits and unique solutions. Introducing Landbay to our lender panel is a way to give our members access to cost efficient innovative products, which come hand-in-hand with Landbay’s excellent market insight.

“The buy-to-let landscape is getting ever more complex, and we are continually striving to meet the evolving demands of our clients.”

Landbay is a UK residential mortgage p2p investing and borrowing platform. Through Landbay, users are able to apply for a buy-to-let mortgage, getting a decision within 48 hours, with simple fee structures, low interest rates. Users can apply for a mortgage of up to £1.5m. Investors on the platform can back loans, with an expected return of up to 3.25 per cent.

Last year, the company raised £1.6m in a crowdfunding campaign held on the Seedrs platform – This capital was raised at a pre-money valuation of £28m.

Copyright © 2019 FinTech Global

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.