The Lendy platform was launched in 2012 and since then our investors have grown to over 16,000, with our loan book growing to over £320m.
As one of the fastest growing P2P platforms, we continually review how our business is run in order to ensure we're acting in the best long-term interests of all our users. With this in mind, we feel it's important to let all of our customers know of any changes with as much advance notice as possible.
A recent review has identified certain disparities in the way we calculate a loan term, with some discrepancies between a loan term published on the platform and the term noted in the master loan document.
This message is to give you advance notice that we will be undertaking a reconciliation programme, and making adjustments where a remaining term differs between platform and the master loan document. Discrepancies can occur for a variety of reasons but the most common are when extensions have been agreed but not factored into the platform loan term; and the different methods used by parties to calculate the term.
Implementation of the changes start next week.
As an investor you do not have to take any action.
Thank you for your understanding while we complete the adjustments.
If you have any questions please call freephone 0800 779 7706.
The Lendy Support Team