LANDBAY and Lendinvest have been ranked among the top buy-to-let (BTL) lenders in the country – outranking 20 other building societies and banks.
According to new data from UK Finance, Landbay’s BTL loans represented a 0.1 per cent share of the UK market in 2018, with a total value of £190m. Lendinvest also claimed a market share of approximately 0.1 per cent by lending £130m in 2018.
This ranks Landbay and Lendinvest in 47th and 50th place, respectively, among all BTL lenders in the UK.
Lloyds secured the biggest share of the BTL market last year, accounting for 20.3 per cent of all loans – however, this was down from 21.8 per cent in 2017, suggesting that the traditional lenders are facing new competition from smaller players. Overall, the ‘big five’ banks accounted for 47.7 per cent of BTL stock by the end of 2018, compared with 49.3 per cent across 2017.
“Overall, the interesting data release from UK Finance shows that mainstream lenders are losing share in the BTL market, with specialists accounting for a larger share of the market…reinforcing the strong growth message,” said John Cronin, an analyst at Goodbody.
Read more: Landbay exits retail P2P lending market