We subject every application to rigorous analysis before we agree to lend. Our credit and compliance process is as follows:
1. Applications are made online by our FCA-regulated and accredited broker partners;
2. A comprehensive credit assessment is undertaken; to review all applicants' credit history, their business experience, their ability to repay the proposed loan and the proposed property which acts as security;
3. A Decision in Principle is only given once the results of these checks have been ratified by our underwriters;
4. We instruct an independent RICS valuation;
5. If we are satisfied with the loan and terms we will issue an offer then instruct a law firm to ensure that we are protected and our mortgage is registered. Landbay has a conveyancer panel and applicants may choice any firm on this panel to act for Landbay and them or choose another firm (in which case Landbay will instruct a separate firm to act for it for which the applicant will be liable for its charges).;
6. Securities are then passed to our Security Trustee, who hold them in trust on behalf of investors;
7. Finally, the loan is serviced by a leading mortgage administrator, who manages it through to repayment.
For further details on who and what we lend to please review our Underwriting Criteria .