shimself
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Wellesley & Co (W&Co) in Administration
equity raise
Jan 9, 2017 22:44:23 GMT
Post by shimself on Jan 9, 2017 22:44:23 GMT
Got a reply from Wellesley: ..... * Statistics drawn from the Group’s financials omit Peer to Peer lending as this does not sit on balance sheet inherent to its nature. I assumed that "Net interest income" of 13M was the spread on the p2p lending
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shimself
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Wellesley & Co (W&Co) in Administration
equity raise
Jan 9, 2017 19:13:32 GMT
Post by shimself on Jan 9, 2017 19:13:32 GMT
Yep, and that is pure hyperbole. There is plenty to be concerned about without adding unfounded hysterical accusations. Have a look at the 2015 accounts
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shimself
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Wellesley & Co (W&Co) in Administration
equity raise
Jan 8, 2017 12:43:50 GMT
Post by shimself on Jan 8, 2017 12:43:50 GMT
Ok, this is getting silly now The P2P world is full of ex-banker types running the show, and can you seriously suggest they are not motivated by getting rich? To single out Wellesley on these points is pretty myopic get rich Q UICK was what was said (as opposed to building a sound business with a future)
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shimself
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Wellesley & Co (W&Co) in Administration
equity raise
Jan 7, 2017 19:47:25 GMT
Post by shimself on Jan 7, 2017 19:47:25 GMT
This is of course all a bit premature, but let's discuss what it appears to be. If W are skint then they must have had an awful lot of bad debts. Without the skin in the game lenders would already be experiencing losses.
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shimself
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General P2x Discussion
Thoughts
Jan 7, 2017 19:32:39 GMT
Post by shimself on Jan 7, 2017 19:32:39 GMT
and newer platforms generally won't attract attention unless they have - equal to or better than the 12% average - access to a new asset class However, once they have attracted enough lenders to fill their current loans, their only way of growing their borrower base in a competitive market is to cut rates, which if they take the hit then they will have a continual decline in profits till they collapse, so their lenders take the hit, till they reach a trade off between a begrudging rate for a half decent loan! I think that might be true here, but here doesn't represent the entire lender community. Here has 2k-odd people (I think), Assetz alone has 16K
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shimself
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Post by shimself on Jan 1, 2017 14:44:38 GMT
I'd like the ability to be able to run a (tax) report between arbitrary dates instantly on the web site. I understand this facility is currently available but only on request via email. paul123 Every client gets an automated tax statement at the tax year end. This appear on their dashboard as soon as the tax year is finished. If you've invested through a Corporate (and need different tax periods) then we currently do this for clients on an ad-hoc (request driven) basis. I like the self-service approach you've suggest. We'll add it to the list. Thanks My tax year ending yesterday I was just looking for this. OK This year I can use the one ending in April, but two comments about that - one it would be better as a pdf, and two it needs a date issued incorporated. And three - the fees shown aren't the same as shown on the dashboard, (I'll email support with specifics)
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shimself
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Post by shimself on Jan 1, 2017 14:32:05 GMT
It might feel a bit premature to you, but my new tax year starts today.
Will you be introducing a tax statement report please (and if you do please allow us to customise the date range, not only for foreigners but also for companies)?
Thanks
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shimself
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Post by shimself on Jan 1, 2017 14:05:28 GMT
I just ran my tax statment - it says I have earned zero interest in the last year. I'm very disappointed - in fact I am incredulous
Forget it - interest at maturity it says. premature of me, sorry. PS Thanks for allowing me to input custome tax year dates
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shimself
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Post by shimself on Jan 1, 2017 13:57:03 GMT
to set filters by credit rating (in fact practically any of the given data) Logically if you give us the data then why not let us use it to filter offerings? Mintos do this well, copy them.
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shimself
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Post by shimself on Dec 31, 2016 19:29:11 GMT
I just noticed that firefox still says the website is Paratus (left of the address bar, where the padlock appears). Happy New Year I hop you get things going again
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shimself
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Post by shimself on Dec 30, 2016 11:13:31 GMT
So does this rely on the solvency of the finance company, or do we lenders have a direct line of recourse to the poroperty and the SIPP?
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shimself
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Post by shimself on Dec 21, 2016 22:23:39 GMT
I would assume that the sale proceeds ended up in the PF? As for good or bad, I guess that depends on the price they got. Judging by their comment (saying they felt they had a low chace of collecting) I think it'll be pence in the pound, in round terms it's a 2M hit.
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shimself
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Post by shimself on Dec 20, 2016 17:17:01 GMT
I've been right put off wind loans because of a number on AC where the output even after a year is below 50% of plan; they say they will still be sold and the loans covered as part of a package (ie mixed with some which work properly). But it seems to me the lesson is that the forecast production can be way off, which utterly devastates the refinance at a decent price. I've tried to squeeze preliminary production figures from Abundance but I don't think I'm going to get any info.
It also has to be remembered that Mosscliff went bust as have at least one manufacturer (basically I think because the FIT rates have gone down so fewer projects are happening, fewer turbines are being made, installed and serviced. So business is down, not looking likely to recover for at least a few years so it's not surprising some firms fold. The upshot being that if you lend to an SPV you are relying on a succesful project and that might not happen, but if you lend to a company which has multiple projects well several of those are failing as well. Shame
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shimself
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Post by shimself on Dec 16, 2016 18:10:59 GMT
99%+ on 6 December, so put £600 more in (bad move?); result - nothing since then, and a gradual decline down to 89%. I wonder if we will be topped up before Christmas . It depe nds but 89% could be greater than 99%
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shimself
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Post by shimself on Dec 16, 2016 16:03:10 GMT
had an email today telling me that i am fully invested, i am so i will be adding a little more tomorrow. just drip feeding now though me too
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