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  • Lendy receives full FCA authorisation Read more …

11/07/2018 • media

 

  • FCA authorises Lendy’s secured peer-to-peer lending model
  • Heralds new strategic phase for the platform

TODAY, Lendy – The Property Platform, one of Europe’s largest peer-to-peer platforms, announced it has received full authorisation from the UK regulator, the Financial Conduct Authority (FCA). Lendy’s secured lending model was authorised by the FCA following a detailed end to end assessment of its business and operating model.

Lendy, which launched in 2012 and has to date facilitated over £400m in lending, has 21,500 registered investors and will continue with its existing investments, but through the new mandate will look to innovate new products and services in line with its full FCA permissions.

Liam Brooke, CEO of Lendy Ltd, says: “We’re very pleased to have been given full authorisation by the FCA. It has been a long and sometimes challenging journey, which has involved a detailed review of our processes and policies and has helped us mature into a stronger and more robust business. This is a validation of our efforts to move from a young start-up to an established mainstream lender, with the ability to disrupt the banking model for the benefit of clients, and design new investment products and services.

“Peer-to-peer lending has grown in popularity over recent years, partly as a result of high street banks becoming increasingly risk averse and reining in lending following the economic crash in 2008. Investors are now seeking higher returns on their investments than are available through most traditional investment vehicles.

“Lendy’s bridging and development loans have helped to fund hundreds of property developments, including major residential conversions, and commercial and industrial property – developments that simply wouldn’t have been delivered otherwise. This kind of finance is critical to tackling the UK’s housing shortfall, with house building now at its lowest rate since the second world war.”

About Lendy – The Property Platform

 Lendy is one of the UK’s leading specialist investment property platforms. We are committed to making property investing and borrowing easier, offering high income returns to our investors, and fast, flexible and competitive rates for our borrowers.

Lendy offers a wide variety of loans which allows investors to diversify their portfolios to reflect their attitude to risk. Unlike with direct investment in buy to let property, investors can easily avoid concentration risk.

Lendy’s minimum investment is just £1, allowing people to diversify their investment portfolios regardless of size, and giving smaller investors access to high-yielding property investment they could not previously access.

All Lendy loans are secured with a charge over UK property, and are written at a maximum of 70% LTV with valuations undertaken by independent RICS registered valuers.

Investors’ capital is at risk if a borrower defaults, and peer to peer platforms are not covered by the Financial Services Compensation Scheme – see https://lendy.co.uk/managing-risk for information on risk and Lendy’s due diligence process. Please obtain independent financial advice if you are in any doubt as to whether an investment is suitable for you.

Lendy is the title sponsor of Lendy Cowes Week, the world’s best-known yachting regatta, with a rich heritage dating back to 1826. Lendy Cowes Week 2018 runs from August 4-11 2018.

Contact

Paul Riddell

Head of Marketing and Communications

Lendy

Tel: +44 (0)7768 958 714