Liam Brooke

Lendy grows loan portfolio by 116% in a year

Lendy has seen the amount lent to property developers via its platform increase by 116% between June 2016 (£150m) and July 2017 (£325m).

The P2P secured lending platform believed that just as in late 2016, one of the main reasons for the strong performance during the first half of this year was Brexit.

According to Lendy, this was because the decision to leave the EU led to traditional lenders reducing the amount that they lent to property developers in the run up to and after the triggering of Article 50. 

This resulted in Lendy having access to better quality loans with lower LTV ratios. 

Major loans that Lendy has financed so far in 2017 include:

£4.8m in loans for the purchase of a former quarry and cement works in the South Downs National Park
£7m for the development of an eco-friendly leisure village in North Yorkshire
£3.4m in loans for the refinancing of a castle and estate in north Wales.

The strong returns gained from investing on its platform has seen Lendy increase its user base by 31% since January, up from 12,600 users to 16,500. 

Since it was established in 2012, investors have earned over £26.5m in interest from investments on the Lendy platform.

Other recent developments at Lendy have included:

rebranding – bringing the Saving Stream platform into the wider Lendy brand
implementing an upgraded default policy
initiating a new communications strategy
becoming the new title sponsor of Cowes Week
improving due diligence processes
expanding the Lendy team.

Liam Brooke, co-founder at Lendy (pictured above), said: “2016 was a landmark year for Lendy, but it’s already looking like we’ll surpass that in 2017.

“We’ve experienced growth in every area of our business, from the loan portfolio itself to the number of users on the platform.

“It’s a very exciting time for Lendy, as we look to expand further.

“This has included growing the expertise within our team, introducing new initiatives and improving existing services for our users and borrowers.”

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