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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

Amazing platform and investment opportunity

Lendy platform is very robust and user friendly. Lendy provides investment opportunity to consumer at touch of a click. Reviewed on: 16th January 2018

Great investment platform

Have been investing with Lendy for 3 years and have had a good experience with brilliant returns. Reviewed on: 16th January 2018

looking for income

Easy to use Inernet site. Good communications especially updates Reviewed on: 16th January 2018

Best interest on investments

Better interest than any other bank/share scheme. Reviewed on: 16th January 2018

Straight forward investmest

Simple clear And visible investments with regular monthly returns in my experience the best company i have found. Reviewed on: 16th January 2018

Excellebt

Excellent Excellent Excellent Excellent Excellent Reviewed on: 16th January 2018

The Best

Always ready to help and advise on any mattee Reviewed on: 16th January 2018

Has desire to improve

I did not have any issues so far, I will continue to invest with Lendy as I can see constant improvements and desire to be better for their clients Reviewed on: 16th January 2018

High interest and updated information

Way better interest rates than Banks and Building Societies, and lots of updated information on the loans you are funding. Reviewed on: 16th January 2018

Easiest and safest way to invest

The Lendy product range is yet to have a default that has cost investors. In most part this is down to the level of due diligence but can only assume the means of rectifying in cases of default is also superb. There are supporting articles to cover any fears and clarity of understanding, There are regular updates to give advice, warnings and support. The secondary market to convert loans back to cash, whilst is market dependent, nevertheless provides a solid means of exit without charges. The introduction of a SIPP Platform link is a stroke of genius that only needs following up with an IFISA. Reviewed on: 16th January 2018

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