Fast finance when you need it.

Size: px

Start display at page:

Download "Fast finance when you need it."

Clyde Moore
6 years ago
Views:

1 Fast finance when you need it. Build on our success with finance funded by Europe's leading P2P secured property platform BETTER SERVICE FEWER RESTRICTIONS SAME DAY OFFERS

Liam Brooke CO-FOUNDER OF LENDY It has been a year of rapid but sustainable growth for us; we grew in every aspect of the business, from staff numbers through to the amount lent.

2 Liam Brooke CO-FOUNDER OF LENDY It has been a year of rapid but sustainable growth for us; we grew in every aspect of the business, from staff numbers through to the amount lent. Our simple and straightforward model allows us to offer borrowers and their agents quick decisions on their loans. Brexit meant that we had access to loans at lower LTVs as bank lending to the property sector was reduced further.

3 Support your clients. Meet your deadlines. Make it happen. Our business is built on strong foundations with a reputation for getting things done. We offer potentially unlimited funds provided by our established P2P platform, which now exceeds 330 million. We are simple, straightforward and fuss-free - we make quick decisions and deliver funds quickly. Specialist bridging loans 70% LTV up to 70% for first charge 100% Up to 100% of development cost Specialist development finance 60% 60% for second and subsequent charges Funding for mainstream and the more unusual

Our loans at a glance Bridging loans Development loans FLEXIBLE TERMS FLEXIBLE TERMS From 100k Total debt from 1m Single and multiple assets LTV

4 Our loans at a glance Bridging loans Development loans FLEXIBLE TERMS FLEXIBLE TERMS From 100k Total debt from 1m Single and multiple assets LTV up to 70% Terms up to 12 months 5 day turnaround UK only LTV up to 70% of land and 100% of build; Terms up to 24 months 10 day turnaround UK only

5 Seven reasons to say yes Europe s leading P2P secured lending platforms * Source: Altfi Data Bridging offer within hours; Development offers within days Strong foundations - Five years' old and profitable Potentially unlimited funds Loan book in excess of 330m Over 150 broker partnerships Flexible rates and fees

6 Why clients like us We are known for being easy to work with and quick to respond, and are trusted by our clients. We also: Have potentially unlimited funds owing to our funding model. Fund up to 70% for first charge, and second and subsequent charges up to 60% with potential for higher depending secondary security. Lend against Open Market Value, up to 100% of purchase price, and against all types of UK property (Ex. NI), including land with planning, agricultural and commercial. Can provide same day offers, with most deals completed within weeks. Lend against both large single and multiple assets - from 100k for bridging and 1m for development loans.

Lendy at a glance We specialise in providing bridging and development finance to property professionals, with funding provided by our established peer to peer crowd funded investment platform.

7 Lendy at a glance We specialise in providing bridging and development finance to property professionals, with funding provided by our established peer to peer crowd funded investment platform. The Lendy platform allows our registered users to pool together their funds in order to finance development projects and property purchases. We ensure this process is fast, simple and secure, with all proposals fully assessed by our experienced credit committee before being made available for investment. Lending is always secured with a legal charge and our loan amounts do not exceed 70% of the Open Market Value, as confirmed by an independent Chartered Surveyor. This means that in the event of a default there is sufficient equity to allow loan funds to be recouped during a sale.

8 The platform has grown dramatically and now has over 17,500 registered users. Our USP for borrowers is our business model, which allows us considerably more flexibility than standard banks and bridging lenders, enabling us to make quick decisions and deliver funds very quickly. Lendy was launched in 2012 by two young entrepreneurs who believed that property lending and borrowing should be easier, and more accessible and rewarding. Since then, Lendy has provided hundreds of borrowers with access to funds for property investments. We have one of the most experienced and specialist credit assessment teams in the industry. We are also very commercial, with a track record of getting things done.

Fees and prices If you have any projects that you would like to discuss please contact us direct on 0800 779 7706 to see how we can structure the right solution to meet your project and budget

9 Fees and prices If you have any projects that you would like to discuss please contact us direct on to see how we can structure the right solution to meet your project and budget requirements. We typically split our entrance fee and exit fees 50/50 with our partners (if paid back on time) While we have standard pricing, we are flexible enough to work with you to make the deal work for them.

10 Lendy timeline OCT 2016 OCT 2012 Lendy Ltd is registered at Companies House. APR 2014 Lendy Ltd becomes authorised and regulated by the FCA. Lendy Ltd celebrates 4th birthday by reaching 220,000,000 in total lending, and over 10,000 registered users JAN 2013 Lendy Ltd writes first asset-backed loan for 30,000. OCT 2015 Lendy Ltd celebrates its 3rd birthday by reaching 50,000,000 in total lending and 5,000 registered users MAR 2017 Company rebrands to Lendy for investing and borrowing services as interest earned by investors hits record 20m. MAY 2017 Lendy Ltd's loan portfolio passes 300,000,000 milestone. JULY 2017 Lendy Cowes Week Lendy's first year as title sponsor runs from Jul 29 Aug 5. SEP 2017 Lendy reaches 17,500 registered users.

11 What makes us different FASTER TURNAROUND FEWER RESTRICTIONS BETTER SERVICE GROWING TOGETHER When time is of the essence, then I couldn't recommend Lendy enough. The guys at Lendy understand the importance of deadlines and helping me achieve my goals. I have worked with Lendy for a while and have always found them flexible and commercial and they always assess an application on its individual merits. Recommended! My BDM at Lendy treats me really well, and I couldn't fault the way they look after my clients' interests. You always get an honest answer from Lendy, and they keep you informed from start to finish. Lendy has grown with my business, and we have been learning together. Today, their commitment to brokers is beyond question and they provide you with the tools to grow your business also. I trust them to deliver for my clients every time. Luke Egan PURE COMMERCIAL FINANCE Andy Redman ABL BUSINESS Andrew Pritchard SIMPLE COMMERCIAL FINANCE Huw Oddy BRIDGING DEALS

Borrower case study NAME David Brace COMPANY Starvale Developments Ltd OVERVIEW Nine years on, and David Brace is as enthusiastic about property development as ever and is a huge advocate of P2P

12 Borrower case study NAME David Brace COMPANY Starvale Developments Ltd OVERVIEW Nine years on, and David Brace is as enthusiastic about property development as ever and is a huge advocate of P2P lending to finance it. And with Lendy he's found a winning partnership... David, who's been training for the Hannover Marathon, first started using private P2P finance in 2006, and has just secured funding for his latest project, an ongoing waterside development in Gosport, Hampshire, via Lendy Ltd. DAVID SAYS: "We will have a first legal charge over the property, and secured against a Grade I & II listed building, which comprises a number of gunboat sheds with brick built warehouse and ancillary buildings. So far, I have borrowed over 300,000 via P2P. The main reason is that the national banks have set the criteria very much against developers and entrepreneurs.this has resulted in large fees to just look at projects. With P2P you are usually talking to someone who understands a developer's challenges and is very much singing from the same hymn sheet," WHY LENDY? "I first used Lendy on a recommendation. From the very beginning they have been helpful and also very knowledgeable in what are sometimes difficult developments."

Press BRIDGING&COMMERICAL Peer2Peer Finance News 21/08/2017 NEWS Croydon is high-risk mortgage hotspot The area that has seen the biggest rise in high-risk mortgage lending in 2016 was Croydon with

19/07/2017 NEWS The peer-to-peer lending model involves fair bit of intervention in the market In a more innocent time, peer-to-peer lenders let investors earn a return by lending out thei money and

6% rise in the number of high-risk mortgages, up from 309 in 2015. The Bank of England guidance says mortgages are considered high-risk if they are lent at 4.5 times the applicant s salary or above.

Almost 5,000 estate agents are showing signs of nancial distress, said accountancy rm Moore Stephens.

The growth in property websites has also undermined the role of estate agents, it suggested.

street who are forcing them to up their spending or give up the race. Many areas across the UK are over-saturated with estate agents, and competition is becoming too much for some smaller businesses.

13 Press BRIDGING&COMMERICAL Peer2Peer Finance News 21/08/2017 NEWS Croydon is high-risk mortgage hotspot The area that has seen the biggest rise in high-risk mortgage lending in 2016 was Croydon with 419 new risky mortgages taken out by homeowners. 19/07/2017 NEWS The peer-to-peer lending model involves fair bit of intervention in the market In a more innocent time, peer-to-peer lenders let investors earn a return by lending out thei money and exposing themselves to risk. But on Tuesday, one of the UK s largest such lenders 31/07/2017 NEWS According to new research by peer to peer secured lending platform Lendy, Croydon saw a 35.6% rise in the number of high-risk mortgages, up from 309 in The Bank of England guidance says mortgages are considered high-risk if they are lent at 4.5 times the applicant s salary or above. One in ve UK estate agents are at risk of going out of business amid a growth in online companies, new research shows. Almost 5,000 estate agents are showing signs of nancial distress, said accountancy rm Moore Stephens. Traditional companies are likely to have higher property and sta costs and are struggling to compete with low-cost, xed-fee online agents, said the report. The growth in property websites has also undermined the role of estate agents, it suggested. Mike Finch of Moore Stephens said: Traditional high street estate agents pro t margins are being squeezed from both sides, from cut-price online competitors, to their larger counterparts on the high street who are forcing them to up their spending or give up the race. Many areas across the UK are over-saturated with estate agents, and competition is becoming too much for some smaller businesses. The study follows a slump in pro ts announced last week at two of the 29/08/2017 NEWS One in ve high-street estate agents risk going bust, study claims Peer2Peer Finance News Lendy: Large London mortgages may divert funding from new developments LENDY has warned that eye-wateringly high house prices in London and the large mortgages that accompany them may result in less funding for new property developments. The peer-to-peer property lender unveiled new research on Tuesday that showed St James s in London is home to the highest average mortgage rate in the UK at 10.28m per year more than 22 highest average gure outside of London. 07/08/2017 NEWS 08/08/2017 NEWS Behind the scenes at Lendy Cowes Week 2017 Lendy has expressed its pleasure at being the title sponsor for the world-famous sailing regatta on the Isle of Wight, which took place last week. Section 106 pricing developers out of market, research warns Costly Section 106 agreements are pricing some developers out of the market, according to the peer-to-peer website Lendy. The website claimed develop 106 agree investors it would protect them from losses by paying out on a bad loan directly from its own At rst sight, the move by Ratesetter, which is backed by fund manager Neil Woodford, looks generosity. But it also helps the eight-year-old lender avoid a serious reputational hit. BRIDGING&COMMERICAL House prices continue to rise despite fall in key market drivers The Lendy Property Pulse (LLP) has fallen to 96.6 from 100 in the second quarter of 2017, despite residential property prices continuing to rise. The LLP is a forward-looking property market index which tracks ve of the property market s key drivers, which are: Average mortgage in London s St James s is 10m+ The average mortgage amount in St James s a central district of London s Westminster is 10.28m according to peer-to-peer secured lending platform Lendy. This is 22 times the highest valued areas outside London and the South East: Sandbanks in Dorset, 26/06/2017 NEWS 21/08/2017 NEWS Lendy warns housing shortage is pushing buyers to high risk mortgages A LACK of lending to developers coupled with a boom in high-risk mortgage lending risks overstretching current homeowners, Lendy claims. A freedom of information request to the Bank of England by the peer-to-peer property pla Adults returning to Bank of Mum and Dad to help them ascend second step on property ladder found high-risk mortgages those lent at 4.5 times the applicant s salary or above made cent of all home loans last year. This works out as 88,057 of 1,088,908 residential mortgages lent in 2016, up 23.5 per ce The research identi ed Croydon as a hotspot for high risk lending, with a 36.6 per cent 2016, the largest in the UK. Read more: UK housing market still under pressure, Landbay chief warns A third of home buyers moving to their second home expect to go cap in hand to those around them to borrow more than 21,200, despite half of those having already received nancial support for their rst property worth an average of just over 21,500. Liam Brooke, co-founder of Lendy, warned that the increased levels of high-risk mor the owner-occupier market comes at a cost to the housing market overall, but is an P2P. He warned that a lack of lending to developers and the resulting housing shortage buyers in the UK as a whole are getting more and more overstretched every year much as they can to make do with the current supply.

Meet the team Liam Brooke DIRECTOR Tim Gordon DIRECTOR Paul Riddell HEAD OF MARKETING AND COMMUNICATIONS Liam co-founded Lendy Ltd in 2012.

Liam has a background in corporate finance, private banking and investment management.

mortgage investment proposition. On his return from the Middle East, Liam worked as an Investment Director for a small asset manager in Switzerland. Tim Gordon co-founded Lendy Ltd in 2012.

14 Meet the team Liam Brooke DIRECTOR Tim Gordon DIRECTOR Paul Riddell HEAD OF MARKETING AND COMMUNICATIONS Liam co-founded Lendy Ltd in He is responsible for the operational performance of the company such as underwriting, disposals, legals and other key professional services, while also overseeing the commercial broker relationships. Liam has a background in corporate finance, private banking and investment management. He developed his early banking career with Barclays Corporate before moving on to United Trust Bank as a property development manager before moving to Ahli United Bank in Bahrain to head up the UK mortgage investment proposition. On his return from the Middle East, Liam worked as an Investment Director for a small asset manager in Switzerland. Tim Gordon co-founded Lendy Ltd in He is responsible for the technological, and online direction of the company, along with the crowd investment platform, Saving Stream. Tim holds a Masters degree in ecommerce and is a Microsoft Certified Professional. He has been responsible for developing numerous IT systems in the FCA-regulated sector of financial transactions and mortgages. After working for the Ingenico Group, developing financial transaction systems, Tim moved to The Mortgage Lender to assume responsibility for the company s online infrastructure and management of the web development team. Paul is responsible for building the profile and reputation of the company, as part of its growth and brand evolution strategy. Before Lendy, Paul was head of strategic communications for AXA UK, managing brand and PR for its wealth management arm. He has spent over 25 years in the financial services industry, working for companies like Winterthur Group, part of Credit Suisse, and Sun Life Financial. He holds the Dip HE (Management) from The University of Reading, the DIP.PR (CAM) from the University of the Arts (UAL), and is a Chartered Institute of Public Relations (CIPR) Accredited PR Practitioner.

Sam Cousins BUSINESS DEVELOPMENT MANAGER David Garbett BUSINESS DEVELOPMENT MANAGER Harry Hodell BUSINESS DEVELOPMENT MANAGER Sam manages our relationships with a large number of commercial finance

He joined Lendy Ltd in 2016 after previously working as a graduate Business Development Manager for the company, Exertis.

Sam graduated with a BA Honours Degree from Southampton University. David joined Lendy Ltd in 2016. He is responsible for introducing new business and managing commercial broker relationships.

15 Sam Cousins BUSINESS DEVELOPMENT MANAGER David Garbett BUSINESS DEVELOPMENT MANAGER Harry Hodell BUSINESS DEVELOPMENT MANAGER Sam manages our relationships with a large number of commercial finance brokers, along with our portfolio of bridging loans from initial offer to completion to final settlement. He joined Lendy Ltd in 2016 after previously working as a graduate Business Development Manager for the company, Exertis. Following this he expanded his skills and moved into the peer to peer sector, working first as a BDM for Funding Knight before joining Lendy. Sam graduated with a BA Honours Degree from Southampton University. David joined Lendy Ltd in He is responsible for introducing new business and managing commercial broker relationships. He has a Degree in Economics with Law, Cemap 1 and a certificate in Business Banking and Conduct. With a background in finance, his previous role was a Business Manager for Barclays where he managed a portfolio of c800 small businesses. Harry joined Lendy Ltd in His responsibilities as Business Development Manager include the generation of new investments and identifying new business opportunities for the company's growth. Harry studied his Undergraduate Degree in Business Finance and later his Masters in International Business at Durham University. Having always had an interest in the UK property market and writing his university dissertation on the subject, Harry decided to pursue a career within the industry by joining Lendy Ltd after finishing his studies at University. Before University, Harry traded in the financial markets in the city.

Alan Darling HEAD OF LENDING Mark Whitburn HEAD OF CREDIT Andy Neocleous SALES SUPPORT MANAGER Alan joined Lendy in 2016 as the Development Finance Director.

associated professionals to ensure the successful completion of development projects.

Security roles within banking. Alan qualified as an Associate of the Chartered Institute of Bankers (ACIB) in 1992. Mark joined Lendy Ltd in November 2016 as a Credit Officer.

16 Alan Darling HEAD OF LENDING Mark Whitburn HEAD OF CREDIT Andy Neocleous SALES SUPPORT MANAGER Alan joined Lendy in 2016 as the Development Finance Director. Alan is responsible for obtaining new business for all types of development funding through managing relationships with commercial brokers and then, following funding, with the developer and associated professionals to ensure the successful completion of development projects. Alan has over 30 years' experience in banking having previously worked for Barclays, Bank of Scotland/ Lloyds and Santander and has undertaken Relationship Director, Credit, Internal Audit and Security roles within banking. Alan qualified as an Associate of the Chartered Institute of Bankers (ACIB) in Mark joined Lendy Ltd in November 2016 as a Credit Officer. Mark is responsible for assessing borrowing proposals/requests to ensure risks are identified and mitigated and to ensure credit policy procedures and processes are adhered to. Mark has over thirty-five years experience in the banking industry having previously been employed by HSBC Bank plc, undertaking a specialist Real Estate finance role and numerous other roles including Group Audit Manager, Credit Review Manager and Branch Manager. Mark qualified as an Associate of the Chartered Institute of Bankers (ACIB) in Andy joined Lendy Ltd in 2017, with responsibility for managing a range of back office tasks for the business development team Andy previously worked as a commercial portfolio manager with Natwest Bank totalling 6 years service, as well as obtaining a Bachelors Degree in Business Management from Southampton Solent University. With Andy s previous experience in lending and commercial banking he decided to pursue a career working within the ever emerging Peer to Peer lending sector with Lendy Ltd.

Corporate responsibility and sponsorship At Lendy we recognise the importance of being responsible corporate citizens, and take responsibility for the direct and indirect impact of our activities on

While we are still a young company, we are also keen to provide support, experience and financial help to a number of organisations.

17 Corporate responsibility and sponsorship At Lendy we recognise the importance of being responsible corporate citizens, and take responsibility for the direct and indirect impact of our activities on various stakeholders, including: customers, suppliers, employees, stakeholders, communities and the environment. While we are still a young company, we are also keen to provide support, experience and financial help to a number of organisations. In 2017 this support included our title sponsorship of Lendy Cowes Week for the first time, which brought many benefits to the world- renowned sailing regatta. During the week, we gave our support to the event s main charity, the Andrew Simpson Sailing Foundation, through our sponsorship of the Discover Sailing event, which helps 180 youngsters to try sailing each day. The charity is striving to break down barriers such as a lack of finance, physical or learning disabilities, mental health or social barriers, and believes the sport promotes health and wellbeing, self-confidence and teamwork.

We have also sponsored two young doubles players - Katy Dunne and

Heather Watson, Britain s number 2, and her doubles partner Naomi Brody,

As part of our programme we are also investigating how we can best give

18 We have also sponsored two young doubles players - Katy Dunne and Harriet Dart - who are both promising British tennis stars, having taken Heather Watson, Britain s number 2, and her doubles partner Naomi Brody, to 7-5, 6-4 at The Championships - Wimbledon in As part of our programme we are also investigating how we can best give our support to the homeless, though a partnership with one of the UK s leading homeless charities.

19 Lendy Gold Club Gold and Silver Partnership At Lendy we are constantly looking at ways to improve our partners borrowing experience. We are currently putting the finishing touches to our new Gold and Silver Partnership scheme. The scheme will recognise the contribution intermediaries make to the success of our business, with some great events and offers exclusive to partners, including joining us as our guest at Lendy Cowes Week 2018 and other special events. If you would like to register your interest please contact your BDM or call

Events we support WHERE Bridging and Commercial Awards The Hurlingham Club WHEN Jun 8 th 2017 NACFB Commercial Finance Expo Hall 3A, The NEC Jun 21 st 2017 MPC Property Coffee Mornings London

20 Events we support WHERE Bridging and Commercial Awards The Hurlingham Club WHEN Jun 8 th 2017 NACFB Commercial Finance Expo Hall 3A, The NEC Jun 21 st 2017 MPC Property Coffee Mornings London Marriott, Regents Park Jul 19 th 2017 Moneywise Customer Service Awards Northumberland Avenue, London Jun 22 nd 2017 MPC Property Coffee Mornings London Marriott, Regents Park Sep 12 th 2017 NACFB Gala Dinner Park Plaza, London Nov 30 th 2017 Moneyfacts Consumer Awards 2018 Royal Lancaster Hotel, London Jan 25 th 2018

21 Awards and recognitions Thanks to our focus on our customers, we ve been recognised in the following awards: Preferred platform 2015 WINNER Best platform 2016 RUNNER-UP P2P Money winner Preferred P2P Platform of 2015 P2P Money runner-up P2P platform of 2016 B&C Awards 2017 Alternative Lender of the Year - Highly Commended Lendy was also shortlisted for the following awards: B&C Awards 2017 Best Use of Fintech Moneywise Customer Service Awards 2017: Best P2P Platform For Savers Moneyfacts Consumer Awards 2018 P2P Provider of the Year

22 Contact us HOUSE OFFICE ADDRESS Brankesmere House Queens Crescent Southsea PO5 3HT Join our property lending community today. For more information call or visit lendy.co.uk Lendy Ltd ("Lendy") is a company registered in England and Wales under number with its registered office and principal place of business at Brankesmere House, Queens Crescent, Southsea PO5 3HT. Lendy Ltd is authorised and regulated by the Financial Conduct Authority (FCA), number , and is registered with the Information Commissioner s Office (ICO), number Z All loans made through Lendy s platform are secured on UK property; however, your capital is at risk should a borrower default. Funds lent through a peer-to-peer website are not covered by the Financial Services Compensation Scheme (FSCS). Whilst no Lendy investor has been subject to any loss of capital, past performance is not a guarantee of future performance. Please obtain independent advice if you are in any doubt as to whether this platform is suitable for you or if you require tax advice. Please review our full risk assessment at

Annual Report Bridging the gap between investors and borrowers

Annual Report Bridging the gap between investors and borrowers Annual Report 2017 Bridging the gap between investors and borrowers 02 Annual Report 2017 OUR MISSION Lendy is one of the UK s leading P2P platforms. We are committed to making property investing and borrowing