PEER-TO-PEER buy-to-let lender Landbay has added Positive Lending to its panel of distribution partners.
The partnership means Positive Lending, which assists more than 3,000 intermediaries with loan inquires a year, will be able to give buy-to-let clients access to P2P funding through Landbay.
Positive Lending will also have access to Landbay’s online intermediary portal, which provides case tracking and portfolio analysis tools.
“A raft of recent regulatory changes, not forgetting the upcoming Prudential Regulation Authority portfolio landlord rules, mean that more and more buy-to-let loans now have specialist requirements, and therefore usually need a specialist lender to underwrite them,” Paul Brett, managing director intermediaries at Landbay, said.
“We are totally committed to supporting and guiding mortgage intermediaries of all varieties in navigating these changes, and finding a home for hard-to-place cases.
“It’s vital for us to partner with specialist intermediaries like Positive Lending that have the knowledge, expertise and due diligence processes to work closely with our underwriters in processing complex loans quickly and precisely.”
Positive Lending specialises in products for its professional buy-to-let landlord clients with bespoke mortgage offers, including deals for houses of multiple occupation, multi-unit freehold blocks and expat borrowers.
“The introduction of Landbay to our mortgage desk panel provides us with access to a tailored and specialist buy-to-let offering which is perfect for advisers looking to assist their landlord clients in a challenging buy-to-let market,” Stephanie Charman, director of mortgages at Positive Lending, said.