In 2020, according to the lender’s financial statement, loan completions fell year-on-year. There was an increase of 30% on the total loan book value though, £602.8m in 2020 compared to £460.5m in 2019. A loss of £2,279,008 was made in 2020, down from 2019’s loss of £3,205,821.
Revenue remained fairly stable in 2020 at £8,037,288, with the total revenue from 2019 at £8,036,201.
John Goodall, chief executive and co-founder of Landbay, said: “Whilst lending was constrained in 2020, quarter on quarter growth resumed in Q2 supported by institutional funding diversification, product and criteria and investment in the new technology which significantly increased efficiencies and underpinned service levels as the business scales,”
“The specialist segment of the overall buy-to-let market continued to grow strongly, driven by professionalising of the sector from regulatory and tax changes. Landbay continues to build a scalable, technology enabled and service focused lender with the aim to become the leading specialist buy-to-let lender in the UK.”
“Signing of further new institutional funding facilities during the year strengthened diversification and funding and the ability to materially increase origination volumes,” added Goodall.
“The strong pipeline at year end and applications levels run rate following a strong recovery post Covid-19 underpins good momentum going in to 2021.”
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