Wellesley & Co.

Wellesley & Co
Private
Industry Personal finance, peer-to-peer lending
Founded 2013
Headquarters London, UK
Key people
 Graham Wellesley , CEO and co-founder
Products Peer-to-peer lending
Website www.wellesley.co.uk

Wellesley & Co is a peer-to-peer lender headquartered in London, UK.[1] Wellesley differs from other peer-to-peer lenders in that it uses its own money to fund every loan agreed with its borrowers.[2][3] Founded in November 2013, Wellesley provides asset-backed loans secured on residential property.[4] Wellesley is named after co-founder Graham Wellesley, who was previously Chief Executive of IFX and Finspreads.

Overview

Wellesley allows individuals to lend money directly to the UK’s small and medium-sized housebuilders, as well as property developers.[5] On 2 April 2014, Wellesley announced that it had made an £8.3m loan, the largest to be made on a peer-to-peer platform at that time.[6][7] The loan, a bridging loan, is backed by a range of 27 properties in several south London boroughs and Essex.[4]

Wellesley & Co is a member of the P2P Finance Association, the first trade association for the peer-to-peer industry, which is now regulated by the Financial Conduct Authority.[8][9] As part of their Auto-Matching process, their lenders' funds are matched to all loans on a volume weighted basis, which gives investors a proportionate amount of each loan.[10] In July 2014, Wellesley & Co. announced the launch of the Wellesley Savings Bond, which allows people to invest in Wellesley Finance Plc itself.[11]

See also

References

  1. ↑ "Wellesley & Co". Retrieved 4 April 2014.
  2. ↑ McGee-Abe, Jason (3 April 2014). "Bridging and Commercial". Bridging and Commercial (London). Retrieved 3 April 2014.
  3. ↑ "Wellesley – How It Works". London. November 2013. Retrieved 1 7 April 2014. Check date values in: |accessdate= (help)
  4. ↑ 4.0 4.1 Dunkley, Emma (1 April 2014). "Financial Times". FT (London). Retrieved 7 April 2014.
  5. ↑ "Credit Today". Credit Today (London). 11 February 2014. Retrieved 20 February 2014.
  6. ↑ Wallace, Tim (3 April 2014). "City AM". City AM (London). Retrieved 20 April 2014.
  7. ↑ Lynch, Russell (2 April 2014). "London Evening Standard". London Evening Standard (London). Retrieved 16 April 2014.
  8. ↑ "Peer 2 Peer Finance Association". London. January 2014. Retrieved 1 April 2014.
  9. ↑ Jonathan Moules (7 December 2012). "Government boost for peer-to-peer lending". Financial Times.
  10. ↑ https://www.wellesley.co.uk/how-it-works/auto-matching/
  11. ↑ http://www.telegraph.co.uk/finance/personalfinance/investing/bonds/10995639/New-mini-bond-pays-7pc-interest.html

External links

www.wellesley.co.uk