Nationwide partners with smart lettings platform to help beleaguered DIY landlords

Leading rental platform, Bunk, has announced a huge partnership with Nationwide Building Society, to further develop its proposition as a transparent, landlord first operator within the buy-to-let sector. Bunk has become Nationwide’s latest venturing fund investment with the digital letting agent already using innovative technology including Open Banking and making a perfect partner for Nationwide, who themselves represent thousands of landlords and tenants across the B2L sector.

The investment is the latest deal from the £50 million Venturing Fund set up just over a year ago to create partnerships enabling the Society and start-ups to share knowledge and expertise. As part of the fund, Nationwide is making strategic investments in and partnering with early-stage start-ups exploring innovative products and services that could provide real benefits for the Society’s members in the future.

Around half of all landlords choose to run their rental businesses on their own and Bunk is helping them by revolutionising the way we let our properties.

Bunk can make a landlord’s life easier by processing tenants’ references and completing the tenancy set up within the site. Once the properties are listed, landlords can view them on a dashboard, which also notifies them when a deposit and rent has been paid, saving the need to review their current account statements. Bunk also allows tenants and landlords to correspond within the site, so enquiries such as expressing an interest in renting a property and maintenance requests will go directly to them, providing transparency giving landlords and tenants peace of mind.

To ensure landlords are up to date with their responsibilities and able to comply with the latest regulation, Bunk offers prompts and smart insight. For example, landlords are unable to take more than five weeks’ rent as a deposit and the system will not progress if they try to take more than this. In addition, Bunk also offers support and advice for those who have become accidental landlords. Bunk has also partnered with Experian, so tenants who make regular rent payments on time will see this reflected in their credit file, something which starts to redress the balance between renters and homeowners, who’s regular mortgage payments already make up part of the credit file.

Tom Woollard, CEO at Bunk, commented: “We want to build something the rental market has never seen before. Landlords are facing reduced margins coupled with increased regulation and there has never been a better time to make their lives easier through the use of technology. Bunk is there to make the process less stressful and more enjoyable for both renters and landlords. Bunk’s mission is to make renting work for everyone, and we’re thrilled to have a partner like Nationwide backing our vision.”

Tony Prestedge, Deputy Chief Executive at Nationwide Building Society, said: “Nationwide is one of the biggest Buy-to-Let lenders in the UK and we have long campaigned to improve standards within the rental sector for both tenants and landlords. Bunk is combining the latest digital technology backed up with human service to not only offer a seamless digital experience but also reduce friction in the rental market between tenants and landlords. Many landlords choose to manage their portfolio on their own, the service that Bunk offers could support them, ensuring they’re on top of their obligations and providing a better service to their tenants. They are a natural fit for our Venturing Fund investment, which seeks to fund start-ups that are focussed on making people’s lives easier through smart insights and fair practice.”

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

Renters’ Rights Bill parliamentary progress

The Renters’ Rights Bill has completed its Committee Stage in the House of Lords and will move on to the Report Stage imminently. Allison Thompson, National Lettings Managing Director of LRG, comments on the progress of the Bill: “As the Renters’ Rights Bill completes its committee stage in the House of Lords, it is disappointing…
Read More
Kerb appeal
Breaking News

Housing Market Surges as Stamp Duty Changes Drive Buyer Activity

UK Finance today releases its latest Household Finance Review for Q1 2025, which explores trends in household spending, saving, and borrowing. Mortgage lending surged in the first quarter of 2025, driven by homebuyers seeking to complete purchases before changes to Stamp Duty took effect in April. Household savings continued to grow, particularly in notice accounts…
Read More
Breaking News

Mortgage Approvals Down in April

The latest figures show that: – Mortgage approvals on house purchases for April sat at 60,463 down (-4.9%) from 63,603 in March. This signals four consecutive months of decline. Approvals are also lower (-2.1%) than the 61,740 seen in April 2024. Despite the decline, there is still optimism for growth in the coming months, especially…
Read More
New Builds 2020
Breaking News

Build to rent completions up, but sector has seen slowdown in construction

New research by Inventory Base reveals that the number of build to rent completions has increased by almost 16% in the past year, however, there has been a significant dip in the number of BTR buildings currently under construction. Inventory Base has analysed UK build to rent (BTR) construction planning data* and found that in…
Read More
Breaking News

Response to latest Nationwide House Price Index

Comment on latest Nationwide data showing a 3.5% increase in house prices from the Industry. Nathan Emerson, CEO at Propertymark: “It is reassuring to witness consistent house price growth and a strong appetite as people continue to approach the homebuying and selling process, especially when the UK economy continues to adapt to both domestic and…
Read More
Breaking News

Annual house price growth edged higher in May

Annual rate of house price growth increased marginally in May to 3.5%, compared to 3.4% in April House prices were up 0.5% month on month House prices in predominantly rural areas have risen by 23% over the last five years, compared to 18% in more urban areas Commenting on the figures, Robert Gardner, Nationwide’s Chief…
Read More