Wellesley Deals & Sales for 2016 - HotUKDeals
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Wellesley Deals & Discounts

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P2P ISA bond 3 years 4% 5 Years 5.25% @ Wellesley

5
Never heard of this company before. Warning ! youe deposit is not protected by FCSA. What are the Risks? Borrower Default As a primary lender, the Issuer faces credit risk which is inherent in its…
littel helper Avatar1y, 9m agoFound 1 year, 9 months ago5 Comments
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Very poor rate given the risk involved and no protection from FSCS.

Cold.
Not a deal. Return isn't guaranteed. You could lose the lot. Cooooooooooooooooooooooooooooold.
4% (5% equiv for basic rate tax payer) is insufficient for a medium-high risk 3 year P2P bond.

Also:

https://www.wellesley.co.uk/isa/
Wellesley Finance Plc lends primarily yet not exclusively to small and medium-sized property developers.

I've been trying to limit my exposure to property developers as there seems to be increasing risk of house price falls. I'd rather stay with Fundingcircle (PM me if you want a £50 referral link) and Ratesetter (<-- £25 referral link).

Edited By: LandOfConfusion on Mar 07, 2015 10:56
I already invest with this lender and these rates do seem a bit low I receive better rates than that for shorter investment periods than that. I have not checked the current rates for a couple of months though. I was expecting a better rate than that for the new ISAs. These were announced at the last budget if I remember correctly.
How does this fold into an ISA wrapper? Or is it just given the name to sound less like a P2P lending account?

I only read a little on the subject (went into index trackers instead) but people should understand this is NOT a cash deposit ISA-you are lending to someone else, who may not repay any of your loan...

My concern is why the rates are so low-4% is small for p2p, unless they are promising only lending to A-rated borrowers.
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