The FCA has placed Lendy under special supervision in January citing concerns about their ability to meet the standards required by firms who are regulated by the FCA; in particular, the FCA is worried about threshold conditions; Lendy will now provide the regulator with regular updates including a weekly report on cash flow and loan recovery; Lendy specializes in property development loans and around 55% of outstanding loans are deemed non-performing or only have been partially repaid. Source
