|
|
Post by smokeykipper on Jun 28, 2015 19:11:51 GMT
Just wondering if Wellesley publish figures on how many lenders you have and statistics on how many lend how much or average amounts?
eg
Total Lenders 6000
1000 lenders £0-5000
2000 lenders £5001-£10000
3000 lenders £10001-£20000
etc...
|
|
|
|
Post by bobthebuilder on Jun 28, 2015 22:18:31 GMT
I'm afraid they don't. In August 2014 they replied to a similar question I raised with them saying:
"We do not publish the exact number of lenders we currently have, also this is changing on a day to day basis, but it currently stand at over 2500. The average lending amount at present is between £11,500 to £15,000".
How this might have changed in the meantime is something I obviously do not know, but it may give you an idea of the risk appetite other lenders on the platform have - or at least had ten months ago.
|
|
|
|
Post by smokeykipper on Jun 29, 2015 17:52:52 GMT
Thank you for the reply, that's a good enough indication I suppose, if they monitor this forum it would be nice for a more recent set of figures...?
Good to know what the rest were investing I'm in the same ball park for now...
|
|
|
|
Post by smokeykipper on Jun 30, 2015 17:23:57 GMT
Just had this via W;
"Currently we have over 11,000 registered lenders over 7,000 are actively lending at the moment. The average account balance changes over time we find. the average is about £12k, however we have found that customers who have been with us for longer have higher account balances on average than more recent customers."
|
|
|
|
Post by sneakybug25 on Jul 3, 2015 1:00:12 GMT
Just wondering if Wellesley publish figures on how many lenders you have and statistics on how many lend how much or average amounts? eg Total Lenders 6000 1000 lenders £0-5000 2000 lenders £5001-£10000 3000 lenders £10001-£20000 etc...
|
|
|
|
Post by sneakybug25 on Jul 3, 2015 1:02:32 GMT
Just wondering if Wellesley publish figures on how many lenders you have and statistics on how many lend how much or average amounts? eg Total Lenders 6000 1000 lenders £0-5000 2000 lenders £5001-£10000 3000 lenders £10001-£20000 etc...
|
|
|
|
Post by sneakybug25 on Jul 3, 2015 1:12:47 GMT
I was thinking about putting some significant money into Wellesley, but they appointed a CFO or FD that was in the board for one month, from April to May. I just cannot imagine investing or lending to company that does mot have an FD and worrse, a company who cannot keep the person for one month. Anyone, know why thst occurrd? I
think his nane was Copson.
The other thing that is worrisiome is that they must have borrowed money against the loans that is in a first position to the note or bond holders. Does anyone know whether they have pledged there loans and to what lender? What is the term of the underlying debt used to finance the pledged collateral?
|
|
bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,466
|
Post by bugs4me on Jul 3, 2015 10:15:49 GMT
I was thinking about putting some significant money into Wellesley, but they appointed a CFO or FD that was in the board for one month, from April to May. I just cannot imagine investing or lending to company that does mot have an FD and worrse, a company who cannot keep the person for one month. Anyone, know why thst occurrd? I think his nane was Copson. The other thing that is worrisiome is that they must have borrowed money against the loans that is in a first position to the note or bond holders. Does anyone know whether they have pledged there loans and to what lender? What is the term of the underlying debt used to finance the pledged collateral? were very active on these forums until they launched their TV advertising campaign which coincided with a drop in rates plus their bond. I invested with them in the early days but nothing for a while now as the rates on offer are really anything but 'headline'. IIRC, in the event of a default, their funds take first hit and unless the recovery is really low then effectively - or in theory - you should be fine.
|
|
|
|
Post by wellesleyco on Jul 3, 2015 10:27:07 GMT
sneakybug25 We do have a Group Financial Director named Gary Sher who was appointed after the resignation of Paul Copson. Paul was with us for 6 months before sadly leaving due to personal reasons. With regards to your second point, please could you clarify the questions? bugs4me while we do monitor this forum closely still, we do not participate as much due to compliance with promotions regulations.
|
|
|
|
Post by smokeykipper on Jul 3, 2015 15:12:03 GMT
I was thinking about putting some significant money into Wellesley, but they appointed a CFO or FD that was in the board for one month, from April to May. I just cannot imagine investing or lending to company that does mot have an FD and worrse, a company who cannot keep the person for one month. Anyone, know why thst occurrd? I think his nane was Copson. The other thing that is worrisiome is that they must have borrowed money against the loans that is in a first position to the note or bond holders. Does anyone know whether they have pledged there loans and to what lender? What is the term of the underlying debt used to finance the pledged collateral? were very active on these forums until they launched their TV advertising campaign which coincided with a drop in rates plus their bond. I invested with them in the early days but nothing for a while now as the rates on offer are really anything but 'headline'. IIRC, in the event of a default, their funds take first hit and unless the recovery is really low then effectively - or in theory - you should be fine. Thank you for quoting my question. Twice.  How significant was your money as many on here are in it for 5 fugures... The risks involved are all quite clear on W website id am more concerned with those than the odd face change on the top corridor?
|
|
|
|
Post by sneakybug25 on Jul 3, 2015 18:29:58 GMT
Gary Sher? He is not on your web site or board. Nothing about him from a PR perspective. Have you had any other turnover?
What I am saying is that you are borrowering money against your portfolio. That means you advance money to your borrower and secure financing from another lender. There is no way you can cover £229m in loans outstanding with equity from the shareholders, the mini bonds and more direct notes from individuals. You have to take the mortgages and plefge them to anorher lenfer to cover the book. I suspect you are borrowering from another peer-to-peer. It has to be someone larger.
If not show us how you are covering your funding needs or post your capital structure, so we can see how much equity and debt has been raised.
When do you file at companies house and will you opt out of enhanved reporting because of your small size. Will you be filing a cash flow statenent.
|
|
|
|
Post by bobthebuilder on Jul 3, 2015 21:57:18 GMT
Well, no one can accuse Wellesley of not responding to criticism. There was definitely no mention of Gary Sher on their website when I checked earlier today, but mysteriously his mugshot has suddenly made an appearance as a member of their Executive Management Team, complete with a link to his CV.
|
|
|
|
Post by lb on Aug 13, 2015 8:15:33 GMT
Gary Sher? He is not on your web site or board. Nothing about him from a PR perspective. Have you had any other turnover? What I am saying is that you are borrowering money against your portfolio. That means you advance money to your borrower and secure financing from another lender. There is no way you can cover £229m in loans outstanding with equity from the shareholders, the mini bonds and more direct notes from individuals. You have to take the mortgages and plefge them to anorher lenfer to cover the book. I suspect you are borrowering from another peer-to-peer. It has to be someone larger. If not show us how you are covering your funding needs or post your capital structure, so we can see how much equity and debt has been raised. When do you file at companies house and will you opt out of enhanved reporting because of your small size. Will you be filing a cash flow statenent.
It seems that Wellesley offer bonds and P2P. Bonds are where investors are effectively lending money to Wellesley which I believe is unsecured. The P2P money, I suspect, is secured by way of a trust and a lower rate of interest is paid.
So last time I looked W had a loanbook of ~ £250m. Only ~ £80m of that was eligible for the Provision fund. I assume that £80m to be P2P money. The remainder of the £170m would be bond money and/or shareholder capital.
In the event of platform failure, P2P lenders would be the most senior, followed by bond holders, followed by other creditors, followed by shareholders. I would also be grateful if this could be somehow confirmed here by W as I would consider lending, but only on the P2P if I would be senior to Bond holders.
Thanks
|
|
