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Lendy: Investments reviews

Name: Investments
Rating: 4.5 (96 reviews)

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4.47

Based on 96 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

72%

18%

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

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

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About this product

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.

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Lendy Investments reviews (96)

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 Facebook page is here: https://www.facebook.com/groups/lendyactiongroup Reviewed on: 3rd February 2020

Poor

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

Do not put any money in with this company

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

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

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

Defaults

The platform works well and the rates are inticing, however over 50% of my portfolio is late or delayed. This means that rather than receiving the 11/12% I would like to achieve it is more like 6% or 7% if the defaults aren't resolved. It is difficult to contact the team as well. I like Lendy and was introduced by a friend, but they need to improve if they want to keep me using them. Reviewed on: 15th November 2018

Big early returns but increasing number of defaulted loans have put the brakes on the returns

I joined up with saving stream as lendy was first known it must have been 5 years ago and they were offering a fantastic 12% interest across the board paid every month . The customer service was Top Class and I got stuck in and sat back and enjoyed a massive boost to my monthly income in the form of my interest payments. I was invested in a wide range of loans in order to spread my risk. Inevitably as the loan book matured and increasing number of loans defaulted and then of course there comes a point when you don't get any interest and you can't sell a defaulted loan part so you are then stuck with your money in the defaults and earning no interest until the very bitter end when lendy finally have sold the at set or the legal action to recover the Loss is complete. Lendy seem to have really upped their game in the last few months as regards coming down harder on Borrowers and taking early action to protect lenders money. However my advice would be that if you do need or may need access to your money in a hurry then this is the not is not the right investment scheme for you because if you do end up in defaulted loans you may find your money is staying elsewhere for what could be 1 2 or 3 years. Reviewed on: 25th August 2018

Contrasting Reviews

I am extremely surprised by the reviews of Lendy Ltd on this review site, if you compare it with Trustpilot it shows a different picture, I would give Lendy Ltd. only 2-stars as they have deteriorated significantly over the last two years for lenders....so it is very hard to understand the 4-star ratings on this site ! very strange. Reviewed on: 8th June 2018

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 helped me the best they can Reviewed on: 3rd February 2018

High returns for seasoned investors

Lendy is still a relatively young company, which is evolving its relationship with both investors and developer clients. The returns are substantial and so is the risk, the key to continuing success will be careful selection of projects. Lendy is meeting an important economic need and I wish them every success. Reviewed on: 30th January 2018

Definitely recommend Lendy

I can definitely recommand Lendy. I have been a happy investers for just over two years and have had a great experience. Lendy is very transparant about their processes and are very diligent before approving any loans for borrowers. Their web interface is easy to use. Reviewed on: 25th January 2018

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