Smart Money People Logo

Lendy: Investments reviews

4.47
Based on 97 reviews, last reviewed 3rd Feb 2020
No new 5 star reviews
in the past 90 days
No new 1 star reviews
in the past 90 days
See only 5 star reviews
71%
See only 4 star reviews
19%
See only 3 star reviews
3%
See only 2 star reviews
3%
See only 1 star reviews
4%

Latest highest rating:

5

Lendy has been rewarding When all goes well, lendy gives me good money rewards, although your capital might be at risk if you join them, they do warn this out & have always he... Read more Reviewed on: 3rd February 2018
Heather Mcneil 's avatar
Heather Mcneil

Latest lowest rating:

1

Lendy Action Group If you have lost money with Lendy please join the Lendy Action Group and help us fight for our rights and to get our hard earned money back! The Faceb... Read more Reviewed on: 3rd February 2020
Chantal Elgie-Peters's avatar
Chantal Elgie-Peters

About the Investments

P2P platforms like Lendy have been around for a few years, but the ins and outs of each platform can vary. So whether you're considering joining Lendy as an investor or borrower, our Lendy property investment reviews can help to give you the inside track on this platform.

Review Lendy: Investments now

Help others make smarter decisions by sharing your own experience. Write a review

Lendy Investments reviews (97)

Lendy Action Group

1
If you have lost money with Lendy please join the Lendy Action Group and help us fight for our rights and to get our hard earned money back! The Facebook page is here: https://www.facebook.com/groups/lendyactiongroup Reviewed on: 3rd February 2020
Chantal Elgie-Peters's avatar
Chantal Elgie-Peters

Poor

1
Was ok at first but then clearly went to pot. Hard to know which peer lending sites to trust or where to turn to for decent AND safe returns. Reviewed on: 25th May 2019
Ray's avatar
Ray

Do not put any money in with this company

1
I have many, many loans which are from 350-800 days overdue. I cannot sell them. There has been no response from support. There is no phone number to contact support. Yet, they are very quick to call you to urge you on, if you have money sitting in your account not invested into a loan part. I would definitely avoid this company and I will be looking to see what legal action can be taken either solely or as a collective. Reviewed on: 30th April 2019
1278dale's avatar
1278dale

No interest for nearly a year, no return of capital since Feb 2018

1
Lendy is not fit to be in business. I have over £60k stuck in defaulted loans with little prospect of recovery. Lendy has a serious issue with communicating to it's investors, it's rare to get more than a single line, or a single paragraph each month to update us on defaulted loans. Security valuations across the board have been dramatically over estimated with no remorse from Lendy. I have seen many investors lose capital as per reports on the p2p independent forums. I've little hope of Lendy returning capital by choice, and so that end I currently have two investigations underway, one by the FCA, one vie the Financial Ombudsman. Pending the results from both, my legal advisor is prepping for litigation to recover capital, accrued interest, consequential losses and legal fees. At this point all I am concerned about is the company going into administration before a Judge can order recovery. View the trust pilot scores of Lendy for more comprehensive reviews, but be aware that Lendy regularly report all negative reviews for removal. The ones you see are the only ones they have been forced to keep online by trustpilot who have determined that a negative review does not in fact constitute removal as a "defamation" or "accusatory" commentary. Over the past 12 months Lendy has exposed lenders to two bankruptees, and has a 3rd borrower who is attempting to sue Lendy and it’s investors for over £10m, for failing to provide funds mid way through a build. The borrower alleges Lendy had contractually agreed to continue funding the project to completion but was unable to gain enough new investors to do so. Lendy say that they did not, but have thus far refused to provide copies of loan terms and agreements to investors upon multiple direct request, so it would appear that Lendy have something to hide. In the mean time the borrower has obtained the details of all 5000 investors and intends on suing them for £10m + costs. Lendy’s management has been shambolic at best, which would seem to largely be due to grave inexperience of it’s Director, which has led to over 60% of their active loan book now being in default, or to put it another way, £120m out of the £180m lent out has failed to be repaid. Many loans are 1-2 years past the 6 month point that they should have been repaid. In short, Lendy is at the end of the road. No new investments on development tranches because of grave mismanagement, appalling communication skills and abysmal PR have collectively pushed the final few loans over the edge as projects stall mid-way through. When the security is half built and worth a fraction of what Lendy advertised, there really is only one way things can go – massive capital losses. Losses are all part of the game, but to this day lendy claims that no investor has ever lost any capital. Not really surprising when a 6 month loan is three years into default and Lendy still refuse to accept it as a loss. Reviewed on: 17th January 2019
John B's avatar
John B

Do you have a different Lendy product?

Share your experiences with products to help others make smarter financial decisions and learn more about different products available. Write a review
Are you a business? Get insights, reply to reviews, invite customers and understand their needs

There's still more to see!

Lendy has a range of products available. Check the ratings of each product to find the right one for you. View all products