P2P lender Landbay joins analytics platform

By Ryan Weeks on 10th October 2018

Property

Landbay is the first property lender to have taken advantage of AltFi Data’s newly launched property specific metrics.

P2P lender Landbay joins analytics platform

With the conclusions of the FCA’s ongoing consultation on new peer-to-peer lending looming, Landbay has become the first property lending platform to sign up to AltFi Data’s analytics platform.

The data firm (AltFi’s sister company) has unveiled new property specific metrics to allow secured property lenders to sign up to its services. Institutional investors and other industry observers on the AltFi Data platform will now be able to scrutinise Landbay’s track record on a like-for-like basis against consumer and business lenders across the UK, Europe and US.

The headline finding is that Landbay is currently delivering a net return of 3.68 per cent to investors – a return that has remained relatively consistent over the three-to-four years since its launch. Investors can now also get their hands on a whole range of other metrics on Landbay, including gross origination, net lending, arrears, net losses and loss coverage.

But perhaps more interesting than the numbers are Landbay boss John Goodall’s comments about the partnership. 

“As the sector matures, this kind of transparency and ease of comparison is critical as the asset class becomes of interest to a growing audience. We fully support the FCA’s recent call for increased disclosure and transparency in its recent paper on the peer to peer sector,” he said.

It's noteworthy that Goodall points to the FCA’s ongoing review of peer-to-peer lending rules. The big takeaway from the regulator’s recent paper was that it intends to limit retail investors to investing just 10 per cent of their net investible portfolios in P2P loans. But as Goodall references, the regulator is also considering imposing minimum standards of disclosure on platforms.

Here’s an excerpt from the paper: “To ensure investors are given clearer information about investments, charges and risk, we propose to set out the minimum information that P2P platforms need to provide to investors.”

Goodall said in a statement that standardised performance metrics would bring efficiency to the investment process while, crucially, highlighting to investors that Landbay is confident in its lending model and ‘happy to be held accountable’ for its performance.

 

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