When you open an account with Lendy you can choose to invest in any loans, subject to availability. On making an investment you are expected to arrange for Lendy to receive cleared funds within 1 working day after which Lendy has discretion to cancel the loan-part allocated to you should it so wish. Funds not invested in a loan will be held in the Lendy Client Bank Account with Barclays Bank PLC. Interest is not paid on any such balances. When the loan is drawn down, all relevant funds are then transferred out of the Lendy Client Bank Account and passed to the Borrower or their solicitors.
Articles in this section
- Can you explain the role RICS plays in your property valuations?
- Why can't Lendy disclose any further information on loans being dealt with by our legal department?
- Reasons to invest with Lendy
- What is my investment known as?
- How much can I invest?
- What return can I expect?
- When will my original investment be returned?
- What happens to my money?
- Where is the risk?
- What fees do you charge?