Will we be seeing loans of less than 12% in the near future?

I'd noticed this many months ago, so I don't think it heralds an imminent change. Yes, arrangement fees and completion fees (I think 4% up front and 2% at the end) are charged but I'm not sure SS would live off just these.

I wonder if Lendy arranges many more loans than are funded by SS. Possibly they keep some themselves such as residential bridging loans which would be safer and are typically offered at lower interest rates.

It is my understanding that the history of Lendy is actually as a lender, not a P2P platform. I believe the SS platform came along a bit later when they wanted to expand the business and get into larger loans. So it wouldn't surprise me at all if Lendy has lots of other loans that SS investors don't see.