Lendy reaches £300m in lending

Lendy has passed £300m in lending to the UK property market as investors and developers respond to the post-Brexit slowdown in bank lending.

According to the peer-to-peer (P2P) lending platform, £50m of lending has been provided in the last 100 days with 16,000 registered users investing in loans.

The platform launched in 2012 and has since funded many bridging and property development loans.

Along with these successful figures, Lendy has doubled its investor base in the last 12 months.

Liam Brooke, co-founder of Lendy, said: “More and more property investors and developers have realised the benefits of getting their finance through P2P.

“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 loan-to-values and due diligence on our loans.”

This comes after the P2P and crowdfunding market in the UK recently passed £10bn in funds delivered in the UK and £100bn globally.

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Read the full story and more at Specialist Finance Introducer