Lendy says that £50 million of that has been provided in the last 100 days as property investors and developers respond to the post-Brexit slowdown in bank lending.

The number of registered users on the platform has grown to almost 16,000 and they have funded hundreds of bridging and property development loans. These include residential developments, commercial property, conversions and farmland.

Examples of loans are:

• £7.5 million for the purchase and redevelopment of a commercial building in Marylebone, central London
• £5.7 million for the development of a major residential building at Liverpool waterfront
• £2.4 million for the development of a major student accommodation complex in Huddersfield.

Lendy says that property developers and investors are increasingly looking beyond the banks as their sources of finance, and are instead choosing P2P platforms. This is due to quick turnarounds, availability and expertise.

The lender says it can move from an initial offer to drawdown of the loan in days. It’s growing user base allows it to fund loans of any size quickly, with loans often oversubscribed by up to five times.

It also points to its experience in bridging and development loans and says it is often able to offer loans secured against properties that the banks would be unable to value confidently.

Lendy adds that the P2P and crowdfunding market in the UK recently passed £10 billion in funds delivered in the UK, while the industry globally has topped £100 billion.

Liam Brooke, co-founder of Lendy, comments: “More and more property investors and developers have realised the benefits of getting their finance through P2P, and that’s driving strong growth for Lendy.”

“We have developed a reputation for being able to do deals that other sources of finance can’t – and to get them done fast. Our users’ ability to fund deals of £10 million-plus means that property investors and developers can get the finance they need much faster than they could through a bank.”

“For investors, Lendy offers a blend of returns and security that continues to grow our user base at a significant rate. That shows no signs of slowing down as more individuals become aware of how they can benefit from the limited LTVs (up to 70%) and due diligence on our loans.”