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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.

Lendy Investments reviews (96)

Review of the Lendy, Investments:

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

Open and Transparent

As an investor I find Lendy open and transparent, however their due diligence procedures may need to be tighter possibly. However, I have not lost any funds as yet just had to wait a little longer for returns while foreclosure procedures are implemented. Reviewed on: 22nd January 2018

Great returns and they keep you informed.

Lendy give you up to 12% returns and you can spread your investments over different properties. They keep you informed and appear to listen to customers as they are evolving all the time to improve services. Reviewed on: 20th January 2018

Interesting Interest!

With mainline banks and other savings vehicles offering such poor rates of interest my own interest was immediately peaked by by SavingsStream (as Lendy was known back when I began investing). With their website being straightforward to navigate, loans being secured against development properties, and interest paid monthly I was immediately attracted. I have placed substantial investments and my wife, who I’ve since introduced to Lendy, has done likewaise. Reviewed on: 19th January 2018

Reliable and Consistently High Rates

Bank busting interest rates consistently around 12% on Asset backed loans. I have been a client for nearly 2 years and not once lost on an investment. Choose who to loan to and watch your investments grow. A Class Platform! Reviewed on: 18th January 2018

easy and very rewarding

a great way to invest, a great return with very little hassle Reviewed on: 18th January 2018

Neat!

Trouble-free investment with high interest rates Reviewed on: 17th January 2018

Lendy are perfect

I have been investing through Lendy/Saving Stream platform for the past 2 years. The platform is easy to use, transparent and informative. The loans are good quality with enough due diligence data to enable me to make investment decisions Reviewed on: 17th January 2018

Excellent results

Have used for some time and have been delighted with results. Reviewed on: 16th January 2018

Amazing

The site is so easy to use and very informative, been using it for over 6 months now after been recommended by a friend and I'm so pleased i was told about them. look forward to investing more in the future Reviewed on: 16th January 2018

Excellent, easy to use platform with solid returns

Lending with Saving Stream / Lendy for three years, achieved 10% pa overall (one or two glitches) Reviewed on: 16th January 2018

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