Lendy (formerly Saving Stream) focuses on secured bridge loans and development finance loans. Interest rates are typically 7-12%pa, with terms typically less than a year. Lendy is one of the larger platforms, with over £300 million lent to date. It is one of the very few platforms that have already become profitable, and it has good deal flow. Lendy is the type of platform that can offer interesting investment opportunities, but it requires a little time to review the opportunities and find the best loans. Many of the borrowers pre-fund the interest payments (some of the loan proceeds are held back to cover interest). This reduces the risk for investors. We think that Lendy is most suitable for investors that have an interest and willingness to devote some time to analysing loans before they purchase them. There are some great loans listed on the site that offer high returns and a good risk profile, but it will pay to be selective.
Lendy is offering a £50 bonus for new investors who invest via Explore P2P. All you need to do is visit Lendy via this link and create an account.
A minimum of £1,000 must be invested for a minimum of 3 months. Taking advantage of this offer boosts your early returns and also helps to contribute towards the running costs of this site.