Landbay and Phoenix Group have formed a strategic partnership to fund long-term fixed rate mortgages.

The new deal with Phoenix is the latest funding partnership for Landbay’s growth journey.

Phoenix adds a different type of funder to its existing range, which includes banks and asset managers as well as securitisation programmes. 

The group’s pension expertise will provide Landbay with long-term funding for its buy-to-let business. 

Landbay chief executive John Goodall says the partnership with Phoenix Group is “a significant development” as the company explores new opportunities for long-term fixed rate lending. 

Goodall comments: “The retirement market is huge and gives us a new source of funding which will enable us to continue to provide competitively priced buy-to-let mortgages.”

“This is an exciting new era for us as we rebranded and launched our next generation broker portal two months ago and now have access to a new type of long-term funding. We are really looking forward to developing our relationship with Phoenix over the coming years.”

Phoenix Group managing director of retirement solutions Tom ground adds: “We’re pleased to announce this long-term, strategic partnership with Landbay. Today’s announcement builds on the partnerships we have in the equity release market where we are a significant funder.”