„Landbay is an peer to peer platform for Buy to Let mortgages – ie non owner-occupied residential properties.“ – Interview with John Goodall (Co-Founder and CEO)

Landbay

Klaus-Martin Meyer: John, you are Co-Founder and CEO of Landbay. Would please tell us a little bit about your background and Landbay as well?

John Goodall: I have quite a broad range of experience. I have worked in finance, I have set up a leading financial executive search business and I have also taught economics. As an economist I have always been interested in how markets work and that is fundamentally what P2P platforms are. Landbay is an peer to peer platform for Buy to Let mortgages – ie non owner-occupied residential properties. The borrowers will typically be landlords and the lenders can be anyone with £100 to invest. My Co-Founder is Grey Stern who has years of experience in Real Estate Finance & Investment.

Klaus-Martin Meyer: You decided do fund your company via Seedrs. Why not via your own website?

John Goodall: Seedrs is a great platform as it really protects the investors. I met up with some of the team there a few months ago and I was really impressed. It is a great business. Our Platform hasn’t launched yet and so this capital will help us with the launch. Also our website is for secured property loans – investing in a start-up is a totally different proposition.

Klaus-Martin Meyer: The market for p2p-lendings seems to be kind of „hot“ at the moment. Companies like Google Ventures invest millions of Dollar. Rocket Internet enters the market in Germany. What is hot about „lending against british homes“?

John Goodall: Firstly it is a huge market so that we can scale it, secondly for lenders they have the security of a 1st claim on the property. If the borrowers ceases to make his payments, we can sell the property and repay the lenders. Therefore it is relatively safe and therefore we think that it will have a broad appeal. There is a saying that „An Englishman’s home is his castle“. Property ownership and talking about house prices have become obsessions within the UK and so lending on a asset class that people understand and have some knowledge of also makes it an appealing market.

Klaus-Martin Meyer: Have you got an idea why crowdlending is so popular in Britain? In my impression there is no other country in the World with as many marketplaces for peer-to-peer-lending.

John Goodall: Interest rates are low in the UK and people are starting to mistrust the banks as there have been a number of scandals relating to mis-selling and high fees. It is still a niche sector and I believe that there is huge potential for growth

Klaus-Martin Meyer: A last questions about Landbay. Your investment sought is only 50,000 GBP. How far will this money take your business?

John Goodall: That Investment will get us through the launch and get us up and running. Gray & I have put a lot of time and money into Landbay and this investment serves 2 purposes – The money means we have more to spend on tech development and marketing and also, as we are doing it via Seedrs we are extending our network so that more people in the UK are aware of us but also in other European countries. I think that it is great that we will have shareholders in Germany, Portugal, Switzerland & Latvia! We hope to be able to accept lenders from Europe and so our shareholders can help spread the word about Landbay across the continent!

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