goofy115
Member of DD Central
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Post by goofy115 on Nov 19, 2018 22:36:14 GMT
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jaswells
Member of DD Central
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Post by jaswells on Nov 20, 2018 0:11:20 GMT
Seems a good offer. Anyone have any idea how Wellesley is performing this year? I cannot seem to find the full loan book details on their website. This used to be available.
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invester
P2P Blogger
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Post by invester on Nov 20, 2018 8:59:34 GMT
After doing more reading I actually think it's a fairly crappy offer.
Looking at the average loan size they are doing it seems that they are lending to the same massive development bracket as Lendy.
Performance-wise they also seem to have done about the same as Lendy, with over half in a non-performing state (according to This is Money). The outrage has been contained somewhat because of the black-box model, and that the interest rates are much lower than that what we get elsewhere, giving W a bigger cut. This is reflected in the accounts though, they have been raising money to stay afloat.
You could invest the money in Ratesetter or Lending Works, buy yourself an Ipad 9.7 (c.£300) and would be more or less in the same position as you would investing here (hard to imagine the return not being impacted by defaults).
Given their non-transparent nature I could not even be sure if the monies used were not going towards operational costs.
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Post by davee39 on Nov 20, 2018 9:49:45 GMT
I do not invest anything, anywhere, on the basis of cashback, gifts, trinkets or toys.
If the underlying offer is sound, and I would have considered it anyway, then I might go ahead.
With mini-bonds you need to know the risks of the product, the bond is not loans secured on property, it is financing a company which makes loans. Do some research on their financial strength. I prefer a mix of diversified quoted investment products.
Apple must have sold off a lot of surplus iPad stock based on the number of 'freebies'. Forget the brand hype and buy an Android.
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Post by yorkman on Nov 22, 2018 10:36:15 GMT
I took advantage of their last iPad offer three years ago. With the capital lost on that account and interest foregone on the 'suspended amount' I could have bought an iPad and had money left over for a case, so I won't be touching this latest offer.
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2boi
Posts: 69
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Post by 2boi on Dec 18, 2018 11:15:33 GMT
Seems a good offer. Anyone have any idea how Wellesley is performing this year? I cannot seem to find the full loan book details on their website. This used to be available. Tucked away here www.wellesley.co.uk/about-wellesley/loan-performance/"updated quarterly" but this is untrue - last figures are 26/4/18, coincidentally just before they defaulted on loans and cut my interest and capital repayment with no sign of their 'provision fund'. This and their desperate ipad offer (not to mention the disappearance of their rep on this forum) tells you all you need to know about Wellesley and where they are going.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Nov 26, 2019 13:25:41 GMT
Seems to be a similar offer now. If I wanted to invest I would prefer a cash alternative, only so many ipads you can use.
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morris
Member of DD Central
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Post by morris on Nov 26, 2019 17:47:14 GMT
If I wanted to invest the last place I would put it is W********.
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jaswells
Member of DD Central
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Post by jaswells on Nov 26, 2019 21:36:28 GMT
If I wanted to invest the last place I would put it is W********. To be fair I have been invested in Wellesley for 5 years now and have been very impressed with their customer service and returns have been comparable to Zopa. They have never been that popular on this BB due to their general opaqueness but have stuck with them over time when there have been investor frenzy's over Lendy, FS and collateral.
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morris
Member of DD Central
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Post by morris on Nov 27, 2019 8:02:55 GMT
This is the P2p forum. The property bond is not P2p. My P2p investments received a significant haircut.
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iren
Member of DD Central
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Post by iren on Nov 27, 2019 16:39:48 GMT
This is the P2p forum. The property bond is not P2p. My P2p investments received a significant haircut. This is ironic, as P2P was marketed as the lower risk product with commensurately lower rates than the bonds. In the event, the bond customers have outperformed, as Wellesley has apparently used its funds to ensure its bonds (its ongoing offering) are repaid, in preference to making sufficient contribution to the P2P (legacy only business) provision fund to cover losses.
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