Zoopla and Landbay partner to offer P2P mortgages
Zoopla has taken another step toward being a "one-stop shop" for its customers by partnering with Landbay for a new investment channel offering peer-to-peer mortgages. Users looking for exposure to the UK property market can start with an investment as low as £100. The channel also includes a tax-efficient property ISA in partnership with Bricklane, which can also be invested in with as little as £100. Critics have said customers using the service could have been refused mortgages by traditional banks and may represent a higher risk.

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Zoopla has launched its new ‘Invest’ channel which offers consumers and would-be property investors the opportunity to gain exposure to the UK property market from £100.

It is the latest step for Zoopla as it transforms from being only a property portal to a multi-faceted, one-stop property resource for consumers.

The new channel on the Zoopla website includes a peer-to-peer lending solution in partnership with Landbay, where anyone can invest from as little as £100 in buy-to-let mortgages, described as statistically the lowest risk form of peer-to-peer lending.

In addition, the new channel includes a tax-efficient online Property ISA in partnership with Bricklane, allowing savers to invest from £100 to own a stake in a UK property.

Alex Chesterman, CEO of Zoopla, said: “Property investment has never been available to the masses before in this way, and for those looking to get on to the property ladder or saving towards a property purchase, the ability to ensure that their investments keep pace with the property market is essential.”

Landbay is an FCA regulated investment vehicle that harnesses peer-to-peer technology to give investors access to UK rental property.

It connects investors with experienced buy-to-let landlords, providing a competitive loan to the landlord secured against the property, in return for attractive and predictable returns for the investor.

The idea is that by cutting out the banks, both get a better deal.

Zoopla does point out that while Landbay is authorised and regulated, peer-to-peer lending is not, meaning that investors’ capital is at risk. Interest rates received are described as up to 3.99%.