The platform has refreshed its terms and conditions, which reflect the recent changes it has made to its model and had previously been communicated to investors.

The voting feature will seek the views of eligible investors on overdue loans and what course of action Lendy takes from a number of options.

Further information on this feature will be communicated to all investors ahead of its launch.

Lendy has also revealed that it repaid five loans to investors during February, with an average interest rate of 8% per annum.

Repayments made included £2.3m secured against a luxury apartment in Cheyne Gardens, Chelsea, and over £206,000 secured against a residential property in Wales.

The other loans repaid during the previous month were used to fund residential property developments.

Liam Brooke, director and co-founder of Lendy, said that recovery was just as critical as origination in the property loan market, which was why it placed so much importance on it.

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“To underline this commitment, we’re continuing to invest in attracting great talent, improving further our due diligence process and always ensuring our property valuations are undertaken by RICS-registered valuers.

“This provides the assurance that the valuations are both professional and independent.

“However, unavoidably, sometimes property valuations are wrong.

“It is for this reason that we do not present loans above 70% LTV, with the average in 2017 being 44%.”

Liam added that all investing carried an element of risk and P2P lending was no different.

“But the case we would make is that the high interest rates we achieve on behalf of investors should more than compensate for a valuation being wrong, particularly for those investors who manage a diversified portfolio, as we always recommend.

“Investors need to be prepared for losses from time to time, but our conservative approach on LTVs means any losses that do occur in a diversified portfolio will be typically covered by the sale of [the] asset that the loan is secured on.”