Landbay Maintains Strong Buy-to-Let Mortgage Growth and Performance, Fuelled by NetSuite Data

Specialist buy-to-let (BTL) mortgage lender Landbay provided its first mortgage loan in 2014. Since then, after 6 years of originating circa £600 million of BTL mortgages, Landbay maintains industry leading low mortgage arrears and mortgage holiday levels.

In 2019, it closed its retail investment arm to focus solely on institutional funding on its marketplace platform. In the same year, Landbay signed a £1bn funding agreement and now has institutional mortgage funding partners including major international financial institutions who use capital markets, funds and PRA supervised retail banks.

These large and diverse funding arrangements coupled with Landbay’s focus on the specialist BTL market which is growing 20% per annum has seen the company record continued impressive growth. Data is core to the speed and accuracy with which Landbay operates, thus the company is using NetSuite to fuel its ambition.


COMPANY

Landbay

LOCATION

London, United Kingdom

INDUSTRY

Financial Services

EMPLOYEES

25-100

SYSTEM REPLACED

Xero

NETSUITE PRODUCTS IMPLEMENTED

NetSuite ERP
NetSuite OneWorld


“We run a lean operation, and it’s important that all departments are accountable to eliminate waste and be efficient. NetSuite provides us with the data and efficiency we require to ensure we don’t hit roadblocks in our growth.” Julian Cork, COO, Landbay

The Leading Specialist BTL Lender

Supporting lean operations
After six years of originating circa £600 million of BTL mortgages, Landbay’s growth continues. It is planning to lend between £1.5-2bn per year in a market that is expected to grow by £50bn over the next five years and also maintain its industry-leading performance with low mortgage arrears and Covid-19 related mortgage holidays. Internally, Landbay requires systems that support its lean operations: Four finance FTE support 100 FTE company-wide, as well as 5,000 brokers and 2,200 live mortgages and many thousands of monthly cashflows.
A high-volume business
Committed to cloud-based technology since its inception, Landbay initially implemented Xero. The company’s growing transaction volume and data reliance, however, meant that it soon was “pushing the systems boundaries and needed to be able to integrate our finance tools with our wider data architecture,” said COO Julian Cork. The team wanted an opportunity to scale and forensically analyse its thousands of cash flows internally. It also needed intricate reports for funders, auditors and clients. Lenders rely on Landbay’s data to fund loans to their desired timelines and investment objectives, while borrowers depend on Landbay to access the right mortgage product quickly.
Delivering funding, managing finance
After running NetSuite parallel with its existing systems for six months, Landbay went live with the new system on 1 January 2020. Just weeks later, the UK treasury announced new mortgage holidays in response to COVID-19. Landbay’s team was tasked with modelling how this would impact its balance sheet and cash flow. Thanks to a “very solid base of data” in NetSuite, the team were able to “turn around new scenarios in an hour or two” at a critical time, said Cork.
Data for all
To support its data-driven ethos, Landbay is integrating NetSuite and Looker, a business intelligence platform it uses in its data warehouse, to complete its sharing of data across the business. Landbay is also looking at NetSuite Planning and Budgeting to improve its scenario planning capabilities.
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