The development loan was used to fund the construction of the home, which is being built on half an acre of cleared land in New Longton.

A small portion of the loan was used to refinance an existing debt on the site itself.

The loan has an LTGDV of 59% with an interest rate paid to investors of 12% and the borrower has recently refinanced this loan with another lender.

The P2P platform has repaid 20 loans in full this year, which – together with partial repayments – has meant that over £39m has been repaid to investors.

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Liam Brooke, CEO at Lendy (pictured above), said this was another significant repayment and added to the more than £10m it had repaid to investors over the past three months.

“We have invested heavily in our due diligence processes in the last year to make sure we can source more of this kind of high-yielding loan for our investors that have a sensible balance of risk and reward.

“High-yielding loans obviously carry risk with them, but can provide an important performance boost to a diversified portfolio.

“This represents a great start to September for Lendy, following on from our FCA authorisation in July.”