Relendex Avis 

Very disappointing investment experience – too many bad loans and illiquid funds

I have invested with Relendex for many years, but unfortunately my experience has gradually gone from disappointing to disastrous.

Too many loans have failed, despite management’s repeated assertions that they take a cautious approach to lending. In addition, the loans are extremely illiquid. Loans are frequently rolled over month after month beyond their original due date, with very little information provided about when repayment is realistically expected. These extended loans are also impossible to resell, leaving investors with their money effectively locked up.

I have invested in several other peer-to-peer lending platforms, and my experience with them has been considerably better, with higher returns and, in some cases, no bad debts at all.

I now dread receiving emails from Relendex, as they so often bring further bad news about delayed or failed loans. Attempts to engage with senior management have also provided little reassurance or practical benefit to investors.

Overall, I would not recommend Relendex based on my experience. The combination of loan failures, poor liquidity, prolonged delays and limited transparency has made this a very disappointing investment.

I have lost confidence in Relendex. Initially I found them to function well but now I am left with a string of investments which are long overdue for repayment. No explanation is offered. The stated repayment dates are constantly put back. Effectively these loans have defaulted and foreclosure action is surely required. Relendex appears to have lost the plot. I will not be reinvesting.

Another 13 months no payment on my £3000 investment .avoid this company or like me you will suffer the consequences

1 year of lending with Relendx, I am happy with my returns so far.

Have missed out on a few loans due to not being on the site quick enough- this is frustrating.

I have been investing with Relendex.com for a number of years and had consistently good returns without any significant problems. All interest has been paid in full without any loss of capital.

The site is a little dated and some aspects of the ‘bidding’ process (can only ‘bid’ in £500 increments) are annoying.

They do have a great secondary marketplace where I have sold and purchased loan parts.

I signed up as a lender with Relendex last week. I've been investing in Ratesetter for several years but they have sold their investment business so I need to find somewhere else for the money. Relendex seemed like a good possibility. So far I have not been impressed.

It's possible that the organisation is too small to afford a decent web interface, in which case they're probably too small to give me peace of mind (I recognise the risks involved with peer-to-peer lending and I'm comfortable with them) but really, the website is awful. There are currently only two loans available to finance, although these are shown as "Coming Soon Auctions" with no indication, that I can see, of when they will become live. Perhaps they don't know.

Worse than this, there is the complete lack of Single Sign On, a facility that has been available for at least 15 years. You need to sign in again to something called Box to view documentation. However even then it doesn't seem to work very well. This morning, using Chrome and Android I've been unable to access documentation. Clicking the individual loans in both auction areas just takes you back to the sign-on page.

Also, if I've understood it correctly, the minimum amount to invest in any single opportunity is £500 which is considerably more than other p-2-p services that I've used and which presumably changes the risk profile considerably.

I do like the fact that you are able to review and select opportunities that you want to invest in, rather like the early incarnations of Funding Circle before they made it all automated and spoiled it for many lenders, however I suspect that I will not be transferring all my Rate Setter funds to Relendex because the risk of large numbers of small loans is more attractive to me than the risk of small numbers of large ones. Perhaps it's more for corporate and very wealthy investors rather than people with less than £20,000 to invest.

April 2024 - I guess it's only fair to update my review a few years down the line. Some of my objections above still apply, although I've upped my rating from 2* to 3*. The investments have worked pretty well and have provided a decent rate of return, probably around 7-8% p.a. Their communications, e.g. about loan payments that are going to be late are mainly pretty good and so far I have not had any investments that have failed, unlike some other IF investments that I've made. I would prefer it if the organisation was bigger and therefore had more developments to invest in, but perhaps small is beautiful in this sector.

Agreed to a 6 month investment with Relendex and 12 months later I have still not received my money back. The most annoying thing is they show every month that they will be paying you next month every month but suprise suprise I never recieve my money back and they have just extended the time frame as to when I will get my money back to another month. I will be now going to the FCA. I have had enough.

New and interesting route to balance risks and returns. Several opportunities to have a good annual interest rate with decent risk grade. There is always space for implementation but it's a new starting point for lenders.

excellent communications and good opportunities on the platform

They have a bizarre system where you can only bid in increments of £500, which is very difficult when using an ISA because there are often smaller portions of cash sitting in the account that cannot be invested. For example, I tried to bid £900 today as that was all that was in the account, but they want £1000 or £500, so £400 goes to waste sitting until it reaches £500 when enough interest is earned.

I would not put more than one year's ISA allowance in this company as it is too much to risk and I prefer to split my ISA allowances into stocks and p2p.

They are operating at the riskier end of the P2P market by providing bridging, mezzanine and residential development loans. So far they have only had a few defaults and after about a year I have not lost any capital, but I would prefer to be lending on property that was not being developed - such as what Proplend and Assetz Capital provide. Lendy and Funding Secure got themselves into trouble by lending on property development and I lost more than half of all my savings with these companies before I wised up that the legal costs of repossession when there is a default are far too high for a small P2P company to handle. That is why banks have large legal teams that they can afford to pay to handle repossessions.

The other thing to bear in mind is that most surveyors' valuations are always overly optimistic. On repossession, the property usually sells for half of what the original valuation was. For this reason I try to only lend on loans that are no higher than 35% LTV.

The system is a bit complicated because you need a separate password to go to a virtual data room to read the loan documents.

Great returns, great service.

dashboards difficult to make sense of. needs to be better. communication needs to be better to build trust. simple logging in issue that was easily resolved in the end but made me lose trust. Mintos do better on all these fronts.

I think the platform is good with a nice secondary market and lots of info on each loan.
I had some concerns over the LTV calculations. Relendex have explained to me how it works in practice however there are still gaps in my understanding. Saying that, as long as the LTV is kept to the stated figure throughout the duration of the development in case things go wrong then I am happy to invest on the platform.

From my experience of investing with P2Ps for the past six years I feel Relendex suits me well, semi retired but with younger kids still going through uni that I am. I rely on regular income from my investment portfolio and would not have stomach to experience a major capital loss. It's my retirement money after all. Sure, there are bridging deals out there offering way more yield, but I am not prepared to risk my money on these. The flip side, Relendex's underwriting style means deals sometimes take time to close. From speaking to management I understand they are not prepared to release funds even with a minor wrinkle. As the return OF capital is more important than the return ON capital I am ok with this for as long as their underwriting standards remain solid and the coupons keep rolling.

Extremely user-friendly platform, great lenders' rates, helpful support. Will recommend

For those that follow theses things Relendex has been through a few changes. And these have worked. Relendex now has one of the easiest property based P2P sites around, and thanks to the "no-fee" Auctions marketplace there is the opportunity to both exit ones investment early, or buy investments diversifying risk- you are not stuck with just the investments where you participated in the original auction- also investments bought in this way start earning interest immediately, .you haven't got to wait for the deal to close. They also look to have some meaningful institutional investors participating in the auctions which gives further confidence. As far as I can see all the investments they have are paying out, interest being earned as expected.
I was an original fan of Relendex and was sad when they didn't live up to their initial promise- however, a few years on, they seem to have got the offering right. I would willingly recommend them to anyone looking at property backed P2P that has relatively low to middling risk.

An intuitive and easy to use platform and lots of great properties to loan on with great rates offered. Been lending on Relendex for a few months now and have been very happy. Would definitely recommend.

Night mare to sign in far to much information requested which in the wrong hands could be highly dangerous to your I D and financial standing.
Would advise do not register
Stay well clear

Well managed P2P with a solid secondary market.