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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

My investor experience

Great interest rate. Great record of avoiding defaults. Very active in finding new investment opportunities. Reviewed on: 16th January 2018

very professional

easy to use website and regularly up dated Reviewed on: 16th January 2018

Superb returns but don't expect default-free investment

Alt-fi has produced some interesting investment opportunities, none better than P2P lending. Using a good web interface and providing strong due diligence (strong but not perfect), Lendy have given me a tremendous return on my investments. Regulation has reined in some of the better components of the early days but, if you're prepared to put up with some loans going bad, the returns are still 9 to 11%. Far better and more reliable than stocks and asset backed so you're never likely to lose everything in a single loan. Diversification is key but, with that, a strong recommendation. Reviewed on: 16th January 2018

Fantastic P2P lending service

I've been using Lendy now for around six months, and I have been very impressed with all aspects of the experience - the website is clean and usable, the lending process is clear and painless, and the payments have been made on time and as promised. They keep you well informed about the progress of each loan, and it's been a pleasure to invest with them. I've tried others but this is by far my preferred platform - highly recommended! Reviewed on: 16th January 2018

Peer to peer

Good rate of return. Simple to use and fast cash withdraw. Reviewed on: 16th January 2018

Great company

As pensioners I can’t believe that we can invest our hard-earned savings and be able to use the interest as part of our income when this level of interest is not available anywhere else. Thank you for the opportunity. Reviewed on: 16th January 2018

Excellent Returns

Well run platform that has performed very well to date and I am confident will continue to do so. Reviewed on: 16th January 2018

Lendy ar the best.

I have only had excellent experience at Lendy - the best short-term investment return in the business. Many of my friends think that it is too good to be true. More fool them! Reviewed on: 16th January 2018

easy investing

I have now been using Lendy to invest in for more than a year and have had good service, and excellent interest rates. I would highly recommend Reviewed on: 16th January 2018

Best investment p2p platform.

One of the best p2p platform for investment to gain interest from 8% to 12% Reviewed on: 16th January 2018

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