P2P Money Blog

Lendy have announced that they have obtained full authorisation from the FCA.  This was confirmed in an email sent to lenders Liam Brooke, CEO, Lendy Ltd.

I?m pleased to announce that today we?ve been granted full authorisation from the UK regulator, the Financial Conduct Authority (FCA).

This is a validation of our efforts to move from a young start-up to an established mainstream lender, with the ability to disrupt the banking model for the benefit of clients, and design new investment products and services.

Peer-to-peer lending has grown in popularity over recent years, partly as a result of high street banks becoming increasingly risk averse and reining in lending following the economic crash in 2008. Investors are now seeking higher returns on their investments than are available through most traditional investment vehicles.

Lendy?s bridging and development loans have helped to fund hundreds of property developments, including major residential conversions, and commercial and industrial property ? developments that simply wouldn?t have been delivered otherwise. This kind of finance is critical to tackling the UK?s housing shortfall, with house building now at its lowest rate since the second world war.

Lendy are one of the last peer-to-peer lending platforms to have operated under interim permission from the FCA.