Peer-to-peer mortgage lender Landbay has announced the appointment of Paul Clampin as Chief Lending Officer. Clampin, who is joining from Paragon Group, where he held the position of Director of Mortgage Underwriting, has 29 years of experience working in the mortgage industry, including 18 years at Mortgage Trust.
Clampin is part of a fast-evolving senior team at Landbay, which focuses mostly on buy-to-let. Earlier in the year, in February, Robert Burgess was appointed as non-executive director. A month later Julian Cork joined from Macquarie Group to take on the role of Chief Operating Officer.
Having recently upgraded its growth plans quite substantially, Clampin is expected to have a key role to play in managing the scaling up of Landbay’s underwriting capacity. This comes shortly after the announcement by the company that it is the first peer-to-peer platform to put its loan book through Bank of England standard stress testing, with results highlighting no losses to the platform’s lenders.
In addition, Landbay recently launched its unique Rental Index. The Index aims to further cement Landbay’s commitment to transparency and consumer education across the entire financial services industry.
Initially, Landbay was launched with the goal of achieving a £1bn loan book by 2018. However, it has now upped its ambitions to achieve £1bn in lending per annum by 2018.
“Attracting people of Paul’s calibre is a testament to the strong foundations we have put in place for Landbay and means this business is ready to enter a new phase in its growth,” John Goodall, co-founder and CEO of Landbay, commented.
“Our lending volumes are set to increase substantially over the next 18 months, and I’m sure Paul will do a fantastic job of scaling up our lending capacity, while maintaining the high underwriting standards that form the bedrock of our model.”
He added: “The first half of 2015 has seen our senior team grow with a host of exciting names, and we know Paul’s contributions will take us to new heights.”
Tony Ward, Chairman of Landbay, was delighted with the appointment. “Paul and I worked together at Mortgage Trust in the 1990s when I was Chief Executive and I have the highest regard for him. He is immensely experienced in all things lending and has been involved as a senior credit professional in the buy-to-let market since its inception in the mid-1990s. I’m very much looking forward to working with him again at Landbay.”
Clampin himself said that he was looking forward to playing his part in the growth of Landbay. “The Landbay model is built on the very compelling combination of an innovative technology platform with experienced and high quality underwriting,” he said. “I’m looking forward to building on what is already in place to help Landbay meet its exciting growth targets.”