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Post by carol167 on Sept 22, 2020 16:54:54 GMT
So.... of my total investment of 30k over 3 & 5 years in the P-2-P it looks like I am going to have received back a total of £29905 which includes all the interest to date plus the proposed CVA return of what is outstanding.
Therefore it will have cost me £100 to invest in Wellesley for 5 years for absolutely FA return.
And that doesn't include the Tax I've had to pay on the interest I've effectively never now received.
Thanks for nothing Wellesley.
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agent69
Member of DD Central
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Post by agent69 on Sept 22, 2020 17:10:39 GMT
So.... of my total investment of 30k over 3 & 5 years in the P-2-P it looks like I am going to have received back a total of £29905 which includes all the interest to date plus the proposed CVA return of what is outstanding.
Therefore it will have cost me £100 to invest in Wellesley for 5 years for absolutely FA return.
And that doesn't include the Tax I've had to pay on the interest I've effectively never now received.
Thanks for nothing Wellesley.
There will be many investors from TC, LY & COL who would be drooling at the thought of that level of return.
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Post by carol167 on Sept 22, 2020 17:17:26 GMT
So.... of my total investment of 30k over 3 & 5 years in the P-2-P it looks like I am going to have received back a total of £29905 which includes all the interest to date plus the proposed CVA return of what is outstanding.
Therefore it will have cost me £100 to invest in Wellesley for 5 years for absolutely FA return.
And that doesn't include the Tax I've had to pay on the interest I've effectively never now received.
Thanks for nothing Wellesley.
There will be many investors from TC, LY & COL who would be drooling at the thought of that level of return.
Yes, and LY (I can't speak for the others as I was not with them) lured people in with high interest rates such as 12%.
Wellesly was 4.75 for the 3yr and 5.25 for the 5 year.
i.e. less return/risk- so, not surprisingly, a better outcome and end result perhaps.
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mogish
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Post by mogish on Sept 22, 2020 17:27:31 GMT
Never mind carol167, at least you escaped LW . Some of us mugs stayed with both LW and wellesley. So far only Rs has been worthwhile IF i get all my capital back. AC are no better with so far 20% in doibtful loans.
Would it not be morehelpful if they showed actual profit if any?
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raokin
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Post by raokin on Sept 22, 2020 17:33:19 GMT
I've been warning the FCA about this bunch of aristocratic <redacted> for the last three years and they have just stood back and watched it all unfold. It's a disgrace. I have a P2P debtgoing back three years. The recovery figure gets reduced very year and nothing ever gets paid. i wouldn't believe a single figure they put forward. I certainly won't be voting in favour of the CVA. The sooner ths company is wound up the better. The directors should be prosecuted for fraud
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Post by organum on Sept 22, 2020 17:55:22 GMT
I will be voting against the CVA which leaves the existing management in place AFAICS. Not entirely unexpected but always a pain for small investors.
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mogish
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Post by mogish on Sept 22, 2020 18:03:05 GMT
Out of interest... wellesley are looking for a guide on what people will vote for. Not that im telling them until 24th on actual vote. Has anyone done the pre vote ?
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mogish
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Post by mogish on Sept 22, 2020 18:05:49 GMT
Out of interest... wellesley are looking for a guide on what people will vote for. Not that im telling them until 24th on actual vote. Has anyone done the pre vote ? Btw , i also will also not support the CVA,the financial differance on what i may recieve is worth losing to get this mess over with.
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Post by organum on Sept 22, 2020 18:09:12 GMT
Out of interest... wellesley are looking for a guide on what people will vote for. Not that im telling them until 24th on actual vote. Has anyone done the pre vote ? Btw , i also will also not support the CVA,the financial differance on what i may recieve is worth losing to get this mess over with. Not fallen for the pre vote either.
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Post by waryinvestor on Sept 22, 2020 18:14:52 GMT
I only have P2P (Classic) Loans, no Mini Bonds. I have the following options
A) If CVA is Rejected - £XXX
B1) If CVA is passed - £YYY paid over the next year B2) Or £YYY paid over the next 3 to 4 years
£YYY is the same figure which is approx 10% higher than £XXX.
I assume options B1 & B2 are same as none of my investments are in Mini-Bonds or Unsecured Property Mini Bonds ?
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Post by jonrgrant on Sept 22, 2020 18:34:41 GMT
Having totally failed to provide a successful P2P service, even with the lowest rates being paid in interest by P2P to lenders.
Now they have failed to provide Bonds that are realistic and provide returns for investors / lenders also.
I just wish that some law (judiciary or moral) existed that would guarantee that no one from this company could ever work in Financial services again. All they ever did was waste lenders money on IPads, TV adverts and bonus rates (obviously the bonus rate will never be realised) !
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Post by batchoy on Sept 22, 2020 19:05:34 GMT
I only have P2P (Classic) Loans, no Mini Bonds. I have the following options
A) If CVA is Rejected - £XXX
B1) If CVA is passed - £YYY paid over the next year B2) Or £YYY paid over the next 3 to 4 years
£YYY is the same figure which is approx 10% higher than £XXX.
I assume options B1 & B2 are same as none of my investments are in Mini-Bonds or Unsecured Property Mini Bonds ?
I have a one small series 2 of mini bond and the rest is in Legacy P2P and I have similar options: A) If CVA is Rejected - £XXX (about 50% of my current holding) B1) If CVA is passed - £YYY (about 50% of my holdings on the 13 Oct) paid over the next year B2) Or £ZZZ paid over the next 3 to 4 years (about £50 more than £YYY)
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Post by HMS Ardent on Sept 22, 2020 19:42:34 GMT
I have Wellesley series 2 mini-bonds. So if I vote not to accept the CVA I'll receive 1% of capital!! If I vote to accept the CVA, I MAY get back possibly 25% over a possible 3 or 4 year period in hard to sell, expensive to sell shares in a worthless, immoral company that may not even be trading in six months time. Right now the 1% looks the best option for me.
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Post by johnsfield on Sept 22, 2020 20:15:01 GMT
I see the loan book as been bought by subsidiary of the same company
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Post by carol167 on Sept 22, 2020 20:59:41 GMT
I see the loan book as been bought by subsidiary of the same company That sounds extremely dodgy. Can they do that ?
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