Buy-to-let focused peer-to-peer mortgage lender Landbay has appointed former Paragon Group director of mortgage underwriting Paul Clampin as its chief lending officer.
Clampin brings 29 years of experience working in the mortgage industry to Landbay, including 18 years at Mortgage Trust.
He joins a fast-growing senior team at Landbay, following several other recent high profile appointments made in 2015.
Robert Burgess joined as non-executive director in February, before Julian Cork joined in March from Macquarie Group as chief operating officer.
Landbay recently upgraded its growth plans significantly, with Clampin set to have an important role to play in overseeing the scaling up of the firms underwriting capacity.
This appoint follows Landbay’s recent announcement that it is the first peer-to-peer platform to put its loan book through Bank of England standard stress testing, with results reflecting no losses to the platform’s lenders.
Landbay also launched their unique Rental Index last week, further confirmation of their commitment to promote transparency and consumer education across the whole financial services industry, including buy-to-let lending.
Landbay was launched with the plan of achieving a £1bn loan book by 2018, but it has now upgraded its plans to achieve £1bn in lending per annum by 2018.
John Goodall, co-founder and CEO of Landbay, said: “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.
“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.
“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.”
And Tony Ward, chairman of Landbay, added: “I’m delighted that we have been able to secure Paul as our chief lending officer.
“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 1990’s. I’m very much looking forward to working with him again at Landbay.”
And Clampin said he was delighted with his appointment. He said: “There is a lot of excitement building in the buy-to-let lending industry around Landbay and I’m certainly looking forward to playing my part in helping the business to grow.
“The Landbay model is built on the very compelling combination of an innovative technology platform with experienced and high quality underwriting.
“I’m looking forward to building on what is already in place to help Landbay meet its exciting growth targets.”