|
Post by ruralres66 on Aug 25, 2016 15:59:19 GMT
I did show a passing interest in Wellesley & Co a few months ago as they offer joint accounts, but the new shiny application pack is still in the envelope. This thread suggest I am wise to leave it there!
And we have been berating RS for their drop in rates.......and narrowing of the market with the forthcoming closure of the 3 year fund. Looks like the writing is on the wall for P2P, with Government printing of money QE and lots of other goodies proposed.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Aug 25, 2016 16:22:24 GMT
This is how it was. The 18 month special offer at 6.75% is about to mature, less than three weeks to go. I notice my funds have not been fully lent out for very many weeks. All that arrogant/smug (almost) TV advertising was too much, and now they have too much money for the loans they need to fund but still have to pay out the advertised (it was 6% most of the time) rates. Attachments:
|
|
iren
Member of DD Central
Posts: 302
Likes: 300
|
Post by iren on Aug 25, 2016 16:36:23 GMT
Yes, my investments have been stuck on the same 88% invested figure for weeks. It's possible that W aren't expecting anyone to invest at current rates, just trying to ward off new money that they don't need.
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 21, 2016 18:06:21 GMT
Just popped in for a rare visit to this corner of the forum. I notice my W investments from the halcyon days of a few months ago are all also stuck at 88% lent, and was quite surprised by the current product range on offer. wellesleyco, I can understand why you've reduced rates for additional lending, but why does it seem that a large amount of funds seem to be 'stuck' at 88% lent? Has there been a drastic slowdown in loan origination, should we be concerned?
|
|
|
Post by mrclondon on Apr 3, 2017 16:52:39 GMT
Bizzarely whilst (still) offering promotional rates to reinvest maturing investments, they have cut the advertised rates yet again, this time to 1.75% (1 year) and 1.85% (2 year) both with interest paid on maturity.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Apr 7, 2017 15:12:17 GMT
Well I guess that says something about their (lack of) cash holdings!
|
|
nairda
Member of DD Central
Posts: 112
Likes: 43
|
Post by nairda on Apr 7, 2017 15:20:25 GMT
I had some lending mature today and Wellesley were offering me 4% for two years, which isn't bad. However, I decided to withdraw my funds, leaving nothing with them as, like several other p2p companies, they rather seem to have lost the plot and I no longer have confidence in their long term viability.
|
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,850
Likes: 11,078
|
Post by ilmoro on Apr 13, 2017 15:00:07 GMT
I guess it depends on what you are measuring the 'outperformance' on ... Some interesting winners ... sneaky feeling the blogger is connected to the sponsor for a start
|
|
|
Post by eascogo on Apr 13, 2017 17:53:07 GMT
Indeed, further confirmed by Trustpilot ratings: 8.4 for MT (152 reviews) vs 9.2 for W (310). The way to go for MT is now clear: drop rates by at least half and monitor Trustpilot.
|
|
iren
Member of DD Central
Posts: 302
Likes: 300
|
Post by iren on May 6, 2017 13:17:14 GMT
I only look in on this account infrequently, but this time was surprised to find that my funds are 100% allocated, after being stuck in the eighty something range for months. This was the obvious explanation for the low rates offered on new investments: Wellesley already had more funds than they could lend. Now this has changed, I wonder if we will see higher rates again.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on May 26, 2017 11:18:06 GMT
I only look in on this account infrequently, but this time was surprised to find that my funds are 100% allocated, after being stuck in the eighty something range for months. This was the obvious explanation for the low rates offered on new investments: Wellesley already had more funds than they could lend. Now this has changed, I wonder if we will see higher rates again. Today: As we progress towards full authorisation by the Financial Conduct Authority (FCA), we are making some changes to our product range over the coming months. We want to make sure that you are aware of the changes and whether these will affect you.
From 31st May 2017, Wellesley & Co will not be accepting any additional investment into the existing Peer-to-Peer Lending products and we will be launching a new Peer-to-Peer lending product in Q3 which will offer different features for customers. This period will allow us to continue to work behind the scenes on developing the new product and bring it to market. The new Peer-to-Peer lending product will no longer provide a fixed rate of interest with a fixed term period.
... and so on. Looks like flavour of the month now is a bond, 4%/4.75% for 2/3 years. Who knows what different features will be utilised (to keep down lender rates?) from Q3!
|
|
goofy115
Member of DD Central
Posts: 77
Likes: 69
|
Post by goofy115 on May 27, 2017 8:12:59 GMT
|
|