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Lundy is home to a range of unusual mammals, almost all introduced, including a distinct breed of wild pony, the Lundy Pony. Until recently, Lundy and the Shiant Isles in the Hebrides were the only two places in the UK where the Black Rat (Rattus rattus) could be found. It has since been eradicated on the island, in order to protect the nesting seabirds. Other species which have made the island their home include the Grey Seal (Halichoerus grypus), Sika Deer (Cervus nippon), Pygmy Shrew (Sorex minutus) and feral goats (Capra aegagrus hircus). Unusually, 20% of the rabbits (Leporidae) on the island are melanistic compared with 4% which is typical in the UK. In mid-2006 the rabbit population was decimated by myxomatosis, leaving only 60 pairs from the previous 15–20,000 individuals. Soay Sheep (Ovis aries) on the island have been shown to vary their behaviours according to nutritional requirements, the distribution of food and the risk of predation.

There are two ways of getting to Lundy, depending upon the season of travel. During the summer months (April to October) visitors are carried on the Landmark Trust's own vessel, MS Oldenburg, which sails from both Bideford and Ilfracombe. Sailings are usually three days a week, on Tuesdays, Thursdays and Saturdays, with additional sailings on Wednesdays during July and August. The voyage takes on average two hours, depending on ports, tides and weather.

During the winter months, (November to March) the Oldenburg comes out of service, and the island is served by a scheduled helicopter service from Hartland Point. The helicopter operates on Mondays and Fridays, with flights between 12 noon and 2 pm. The heliport is a field at the top of Hartland Point, not far from the Beacon.

Entrance to Lundy is free for anyone arriving by scheduled transport. Visitors arriving by non-scheduled transport are charged a small entrance fee, currently (July 2007) £5.00, with an additional charge payable by those using light aircraft. Anyone arriving on Lundy by non-scheduled transport is also subject to an additional fee for transporting luggage to the top of the island.

In 2007, Derek Green, Lundy's general manager, launched an appeal to raise £250,000 to save the mile-long Beach Road, which had been damaged by heavy rain and high seas. The road was built in the first half of the 19th century to provide people and goods with safe access to the top of the island, 120 metres (394 ft) above the only jetty.

Lundy has 23 holiday properties to choose from sleeping between 1 and 14 people. These include a lighthouse, a castle and a Victorian mansion. Many of the buildings are constructed from the island's granite. All have heating and many also have wood burning stoves with a bath or shower depending on size. Kitchens are fully equipped for those wishing to self cater.

The island also has a campsite, at the south of the island in the field next to the shop. It has hot and cold running water, with showers and toilets in an adjacent building.

The island is administered as part of Torridge district of the English county of Devon. It belongs to the ward of Clovelly Bay. It is part of the constituency electing the Member of parliament for Torridge and West Devon and the South West England constituency for the European Parliament.