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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

already persuaded several friends to sign up

easy access, easy to understand platform, good returns, what's not to like? Reviewed on: 16th January 2018

Great Savings Platform

Although it takes a little time to manage, this is a great way to save/invest. Reviewed on: 16th January 2018

my revew

A good way to invest good returns much more than the banks Reviewed on: 16th January 2018

best for investment

best for investment Reviewed on: 16th January 2018

Does exactly what it claims to do

Lendy deliver the service they promise,any variations being down to the market. Reviewed on: 29th December 2017

Enjoy creating your very own investment Portfolio!

I lose track of the time and first started cautiously lending with Savingstream as they were first known(i liked that name) approximately 2 years ago to the point where i now have the bulk of my future pension (circa £150k) invested with Lendy. Since that time the platform has evolved as the peer to peer lending industry has grown and there have been many changes and tweaks as time has passed. My most recent project has been to start a portfolio for a parent with dementia as i gained power of attorney in the autumn of 2016 after the death of my father. This has been a very exciting time for me, having already gained lots of experience from scratch of how the platform works with my own money. I am striving to create a portfolio from a £250k cash sum just rotting away in a building society on 0.01% interest. My ambition is to narrow the gap as much as possible between my mothers in comings from pensions etc and the massive monthly outgoing of £4200 per 4 weeks for residential care home fees so that my parents estate is not simply frittered away as having talked to some care home residents they can be "resident" for years resulting in the need to sell the family home to continue to pay for care fees as the state does not make any provision to care for the elderly if they have saved more than £22,000 . I look forward to 2018 with Lendy and seeing how proactive the platform is at recovering default loans as i have quite a few of these now on some of my early investments. Reviewed on: 18th December 2017

Very sdatisfied with Lendy

The only query I had was dealt with satisfactorily. Reviewed on: 17th December 2017

My capital is working hard in safe hands

I have has a toe in the water for a couple if years now I'm ready to start stepping up the investments Reviewed on: 17th December 2017

My best savings account

I investigated which p2p provider offered the best rate and initially was rather nervous as the interest was much higher than most but have been delighted with the returns and no losses to date Reviewed on: 17th December 2017

First class P2P platform

Great investment return from a well managed platform. Reviewed on: 17th December 2017

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