Landbay expands headcount by 70% after record first quarter; and more

Written by Oliver Wade

Landbay has recently reported its strongest quarter to date and has revealed plans to increase its headcount by 70% by summer 2018.

The lender recently surpassed £100m of mortgages funded to date with zero arrears, and funded 130 mortgages during Q1 2018, lending a total of £26.8m.

Landbay CEO and founder John Goodall said: “The past four years have been a journey of expansion and development, but the last six months have been a real eye opener to what we can achieve as a company. After reaching the £100 million lending milestone in March we have continued to gain momentum, and aim to be lending £30 million a month before the year is out.

“Becoming a publicly listed company in the future remains our ultimate objective, but for now, we look forward to welcoming new team members who will all play key roles in helping us achieve sustained growth.”

Foundation Home Loans upgrades residential proposition

Foundation Home Loans has announced that it has updated its residential product line, with the introduction of a new product aimed at borrowers with no adverse credit in the last three years.

As part of the re-vamp, Foundation Home Loans has renamed its product tiers to F1 (no adverse credit in the last 36 months), F2 (cases with no CCJs or mortgage arrears within the last 2 years with minor “blips” accepted) and F3 (cases with more recent CCJs and mortgage arrears, while other blips are accepted).

Residential headline rates now start at 2.24% for its F1 products, with an arrangement fee of £995 and an application fee of £125.

Foundation Home Loans commercial director Andrew Ferguson said: “We are known for our buy to let proposition and are now keen to develop our residential offering too, in support of our ambitious growth plans. We are confident our revised residential offering meets changing borrower needs and will provide our broker partners with a credible option in supporting these needs. We will of course ensure we continue to listen to feedback to ensure our proposition further develops over time.”

Gatehouse Bank adds two new seniors to its direct finance team

Gatehouse Bank has announced that addition of two new senior hires to its direct finance team following the appointment of its head of direct finance Gemma Donnelly.

Payal Gajjar and Alina Rauta have been appointed as direct advisers for the challenger bank.

Gatehouse Bank CEO Charles Haresnape said: “I am delighted to welcome such experienced advisers to a team that is already providing outstanding customer service and advice to those customers preferring to contact us directly, instead of via brokers. Both distribution channels are important to us.”

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