Peer-to-peer lending platform Lendy returned a £2.1m loan repayment to P2P investors from a luxury apartment in Chelsea, on an investment made through Lendy.
Peer-to-peer lending platform Lendy returned a £2.1m loan repayment to P2P investors from a luxury apartment in Chelsea, on an investment made through Lendy.
The two bedroom flat in Cheyne Gardens is located within the Cheyne Conservation Area in Kensington and Chelsea.
The red-brick, mid-terrace period property was valued at of £3m and had a (LTV) of 65% and a 12% interest rate. The owners have used the property as security to fund a short term business loan.
Liam Brooke, co-founder of Lendy, said: “It’s been a busy and successful start to 2018 for Lendy, and this repayment illustrates the strength of our offering.
“At Lendy, we’ve long understood the importance of writing good loans, and this is another example of a rigorous due diligence process paying off for borrowers and lenders.
“Working closely with our borrower at every stage of their project is a critical part of our strategy, and with results like this show our work is really paying off for our investors.
The repayment marks a good start to the year for Lendy, which has a strong pipeline of repayments scheduled over the coming weeks, returning significant value to investors.
Lendy is expected to announce the repayment of the largest single UK P2P shortly.
