Landbay creates dedicated portfolio team

Buy-to-let lender Landbay has set up a portfolio underwriting team specifically to cater for professional landlords who own rental properties in a portfolio of between £2m and £15m.

The lender has five underwriters which it said are experienced in dealing with large and complex buy-to-let cases.

Landbay said the change enables the team to properly understand landlords’ business plans as well as where they sit within their various markets.

James Cooper-Smith, team lead of the portfolio team, said: “The reception from the market to our portfolio team has been great. Professional landlords know their business, understand their local markets and who their competitors are. If we can tap into that it makes our assessments more accurate and we can tailor our underwriting accordingly.

“Since launching the team, we have seen an increase in landlords coming back to us, via their broker, to finance more properties. Building up relationships is positive for everyone involved, not just for us, but for the broker and landlord too.”

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