The CML network will assist Landbay in maintaining industry best practice in all elements of mortgage lending including compliance and conveyancing. Landbay will use CML research when evolving its lending and risk management policies.
John Goodall, chief executive of Landbay, said: “While our business model is highly innovative, our approach to mortgage lending standards are founded upon industry expertise. The CML provides a fantastic network and resource for us to use in fortifying our lending processes as our lending picks up pace.”
Paul Clampin, chief lending officer of Landbay, added: “We are looking forward to being involved in the effective work the CML conducts with the government.
“We are already doing this on the peer-to-peer side of our business via the P2PFA and we are excited to play a tangible role in the development of future changes to mortgage legislation.”
