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Post by organum on Jul 16, 2015 7:52:08 GMT
Has anyone had a look/analysed Wellesley company accounts?
I am still with them and have been happy with my investment.
When I see the large numbers of TV and other advertising I do wonder if the thing is sustainable. On the face of it the number of loans approved for 14 days and beyond would indicate a need to bring in the money.
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Post by organum on Sept 30, 2015 6:24:54 GMT
The huge advertising continues.
Has anyone else concerns?
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shimself
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Post by shimself on Sept 30, 2015 7:43:32 GMT
Providing they have the capital it's a reasonable strategy, spending money to get new customers to grow the business. And looking at the stats thread here it seems to be working, in the sense that the loan book and therefore the general scale of the business has grown a lot jul14 50M aug14 73M oct14 86M Dec14 124M feb15 156M Apr15 184M Jun15 208M sep15 221M
Making some wild guesses, they pay what 6% for their money (ie they pay us 6%), they charge ooh, 15% perhaps??, so the current loan book of 221M is earning them (9%of221M) 20M gross profit. That sounds ok. Very wild guesses I emphasise.
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webwiz
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Post by webwiz on Sept 30, 2015 16:33:35 GMT
They have adopted the model of using a lot of their margin on TV advertising. SS on the other hand have kept their costs to a minimum and pay investors about double. Assuming risk is the same which do you prefer?
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shimself
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Post by shimself on Sept 30, 2015 20:42:36 GMT
They have adopted the model of using a lot of their margin on TV advertising. SS on the other hand have kept their costs to a minimum and pay investors about double. Assuming risk is the same which do you prefer? Not to date an assumption I share. The new SS T&Cs will make a difference, but still many of their loans have LTVs which aren't that good and are imo not as good as the headline figure.
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webwiz
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Post by webwiz on Sept 30, 2015 21:26:03 GMT
They have adopted the model of using a lot of their margin on TV advertising. SS on the other hand have kept their costs to a minimum and pay investors about double. Assuming risk is the same which do you prefer? Not to date an assumption I share. The new SS T&Cs will make a difference, but still many of their loans have LTVs which aren't that good and are imo not as good as the headline figure. So far so good with SS. Only one loan default and the asset sold for more than the loan so no call on the PF. Only time will tell if W are safer than SS. But anyway I would rather W spent their money on better rates for investors rather than TV ads.
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bigfoot12
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Post by bigfoot12 on Oct 11, 2015 10:53:17 GMT
They have adopted the model of using a lot of their margin on TV advertising. SS on the other hand have kept their costs to a minimum and pay investors about double. Assuming risk is the same which do you prefer? Not to date an assumption I share. The new SS T&Cs will make a difference, but still many of their loans have LTVs which aren't that good and are imo not as good as the headline figure. I'm with shimself on this one. In anticipation of the new T&Cs I have toe dipped, but I won't be adding any significant proportion of my P2P money until they become a p2p platform.
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bigfoot12
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Post by bigfoot12 on Oct 11, 2015 11:08:47 GMT
Has anyone had a look/analysed Wellesley company accounts? Most recent I can see are June 2014, turnover £534k, operating profit -£703k (a loss). They had barely started at that point.
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shimself
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Post by shimself on Feb 27, 2016 14:28:49 GMT
Has anyone had a look/analysed Wellesley company accounts? Most recent I can see are June 2014, turnover £534k, operating profit -£703k (a loss). They had barely started at that point. Still waiting for the next yearś accounts, when will they be filed please? (No offence but ponzi scams do happen, an audit would be nice to see)
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Post by organum on Feb 27, 2016 14:47:09 GMT
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Post by wellesleyco on Feb 29, 2016 9:12:26 GMT
shimself Wellesley & Co has changed its year end to December to align its reporting with the calendar year and therefore the December 2015 results will be published in April 2016.
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Post by wellesleyco on Feb 29, 2016 9:25:25 GMT
organum we are investigating this. Wellesley Credit is not part of Wellesley Group.
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oldgrumpy
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Post by oldgrumpy on Feb 29, 2016 10:13:32 GMT
Well spotted, that man!!!
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shimself
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Post by shimself on Mar 1, 2016 14:37:40 GMT
shimself Wellesley & Co has changed its year end to December to align its reporting with the calendar year and therefore the December 2015 results will be published in April 2016. Can you give us any indication. Are you in profit?
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2boi
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Post by 2boi on Jul 4, 2016 23:03:46 GMT
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