Following the launch of its exclusive partnership with Zoopla Property Group last week, Landbay, the peer to peer lender specialising in buy-to-let mortgages, has today launched ‘Rent Check’, an online tool that allows tenants and landlords to compare their own rents against others in their region in a fast and user-friendly way. Rents have grown by close to 5 per cent over the last two years alone, highlighting just how important it is for both parties to check their rents are tracking the wider market.
The postcode search widget harnesses sophisticated UK wide data from Landbay’s monthly Rental Index, powered by MIAC. The index maps annual and monthly trends in advertised rents, both geographically and by bedroom number. It also allows users to access data showing how rental movements for a specific property type have changed over time, all of which provides unique and sensitive insight into market movements and social mobility.
John Goodall, CEO and Co-Founder, Landbay, commented:
“The UK is in the midst of a housing crisis and a severe supply/demand imbalance, meaning the rental property market is buoyant. Together, Landbay’s Rental Index and the Rent Check tool will give both tenants and landlords a simple way of accessing data from across the UK, not only providing an in depth view of the market, but helping inform their next move.
“In times of low interest rates and a lack of home ownership and affordability, we’re pleased to be able to offer people a way of affirming the rent they are paying in their region.”
Established in 2013, Landbay was the fastest-growing online peer‐to‐peer lending platform in 2015. The investment platform is driven by peer to peer technology and backed by buy to let property, offering attractive returns and a double-lock of security to protect against losses.