Not upheld: irresponsible lending complaint against Lendable Ltd
Financial Ombudsman decision DRN-6259480 of 2026-05-22T00:00:00+00:00. irresponsible lending complaint against Lendable Ltd. Outcome: Not upheld.
Decision detail
| Reference | DRN-6259480 |
|---|---|
| Decision date | 2026-05-22T00:00:00+00:00 |
| Firm | Lendable Ltd |
| Product | loan |
| Claim type | irresponsible lending |
| Outcome | Not upheld |
| Remedy | None. No remedy was ordered as the complaint was not upheld. |
Summary
Miss M complained that Lendable irresponsibly provided her with a £5,000 loan in January 2024. She was unhappy with the interest rate and how her payments were applied to the loan balance. The ombudsman found that Lendable conducted reasonable pre-lending checks including income verification, credit history review, and bank statement analysis showing sufficient disposable income. The interest rate was comparable to similar lenders, and the loan was being operated correctly. The complaint was not upheld and no remedy was ordered.
The Ombudsman's reasoning
The ombudsman found that Lendable's pre-lending checks were reasonable and proportionate, including income verification, credit history review, and bank statement analysis showing sufficient disposable income. The interest rate was comparable to similar lenders. The ombudsman was satisfied the loan was being operated in accordance with its terms and conditions, and found no evidence of irresponsible lending or unfair treatment under section 140A of the Consumer Credit Act 1974.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Lendable Ltd, all decisions | 410 | 26% |
Source
Read the original decision on the Financial Ombudsman Service website