Lendy, one of Europe’s largest peer-to-peer secured lending platforms, has revealed in its Annual Report 2017 that repayments to investors doubled to £35m in 2017, up from £16m at the end of 2016.

Lendy’s Annual Report also shows that Lendy reduced its average LTV on loans to 44% last year, down from approximately 60% in 2016, as it continued to reduce risk for its investors. Lendy grew its under-40 customer base in 2017 – under-40s now represent 50% of Lendy’s customer base.

In its report Lendy reveals that in 2017:

• It funded over 70 projects
• It lent £101m on behalf of investors
• That there were 280,000 transactions on Lendy’s secondary loan market, with a total value of £106m

Liam Brooke, co-founder of Lendy, says: “At the start of 2017 we committed to improving the platform for the benefit of both new and existing investors, including reducing LTVs as one way of managing risk.”

Lendy says that conservative LTVs mean any losses that do occur in a diversified portfolio will be completely or largely offset by the sale of asset that the loan is secured on.

Liam Brooke continues: “The amount we repaid to investors doubled in the last year alone, showing the robustness of our P2P model, but we want to make it even better. This is why one of the key areas of focus last year was our due diligence process on the loans we were writing.”

Looking ahead

Lendy says that improving its website and mobile user experience are two of its key priorities for this year, alongside increasing the quality and capability of its due diligence team.

Lendy recently added Andrew Wawrzyniak as Head of Finance in 2018, who brings over 30 years of investment services experience with him.

Liam Brooke adds: “2018 will also be the second instalment of Lendy Cowes Week. We’re so excited to head down to the Isle of Wight again for what promises to be an even bigger and better event for crews and spectators.”

You can download Lendy’s Annual Report 2017 here.