Lendy, a European peer-to-peer (P2P) secured lending platform, has passed the GBP300 million milestone in lending to the UK property market.

Lendy says GBP50 million of that lending has been provided in just the last 100 days.

The almost 16,000 users registered on its platform have invested in loans including GBP7.5 million for the purchase and redevelopment of a commercial building in Marylebone, central London; GBP5.7 million for the development of a major residential building at Liverpool waterfront; and GBP2.4 million for the development of a major student accommodation complex in Huddersfield.

The platform has funded hundreds of bridging and property development loans since it launched in 2012, including residential developments, commercial property, conversions, and farmland.

Liam Brooke, co-founder of Lendy, says: “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 GBP10 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 and due diligence on our loans.”