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Name: Stephen Harvey

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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