Lendy breaks £400m lending landmark

Lendy has announced that it has provided more than £400m in lending to the UK property market.

The milestone figure has been invested by more than 21,500 investors who have earned more than £40m in interest so far.

The P2P property lending platform – which surpassed £300m in lending in April last year – has funded hundreds of bridging and commercial property development loans since it launched in 2012.

These loans have supported residential developments, commercial property schemes and conversions.

Liam Brooke, CEO at Lendy (pictured above), said that for some time it had been stepping in where big banks had neglected property developers.

 “To pass the £400m barrier in a little over a year after reaching £300m is testament to the relationship we have with developers and the quality of the loans we provide.

“A combination of quick turnarounds for developers – coupled with good returns and excellent due diligence on properties for our investors – is helping Lendy grow at a healthy rate.”

Last week, the P2P platform released its Lendy Cowes Week preview video.

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