Landbay adopts new software to speed up investor sign-ups and mortgage approvals

LANDBAY has selected software company Oracle NetSuite to help speed up its decisions on mortgage applications and investor sign-ups.

Oracle NetSuite provides a suite of cloud-based applications that support businesses in managing their finances, operations and customer relations more efficiently.

It said that Landbay, which provides peer-to-peer mortgages on buy-to-let properties, will be able to use its technology to achieve a real-time view across its business and reduce the amount of time spent running reports.

As a result, Landbay will be able to approve any loan application in just 48 hours versus the industry average of three weeks.

“Landbay is rapidly scaling and to support this growth we needed a technology platform that would enable us to make decisions quickly, while continuing to offer competitive products for our borrowers and lenders,” said Julian Cork, chief operating officer at Landbay.

Read more: Landbay partners with mortgage broker network

“For us, growth means signing up more people as investors and providing more mortgages to landlords, so we need to offer competitive rates on both sides.

“NetSuite supports that goal by giving us the insights we need and also frees up our team to build out the best mortgage products for landlords and investors.”

Read more: New look for Landbay amid product expansion

“Landbay’s impressive growth stems from having a product that offers accessible, competitive returns for investors and competitive rates for borrowers,” said Nicky Tozer, EMEA vice president at Oracle NetSuite.

“By running its business on NetSuite, Landbay has a solid foundation for growth and can focus its time and resources on continuing to provide its customers with market-leading products and services.”

Read more: Landbay joins Sesame and PMS lending panels