P2P Money Blog

Wellesley & Co are now offering up to 1.5% cashback on their mini-bond, but this is only up to 22nd May.

Here is the blurb from Wellesley & Co on their mini-bond:

The mini-bond gives investors the chance to be part of our ongoing success, by investing in the company's expansion and contributing to its secured lending activities.  Wellesley Finance fund all loans matched by Wellesley & Co.  The success of our business model where Wellesley Finance PLC retains a proportion of every loan on a subordinated level, has brought rapid growth in recent years.

Funds raised will be invested in asset-backed loans that are also available on Wellesley's peer-to-peer lending platform, operated by Wellesley & Co Limited.  Wellesley & Co has funded over £200million of secured loans to date and is recognised as the fastest growing peer-to-peer lending platform in the United Kingdom.

All interest is paid net of basic rate tax and the bond is non-transferable and cannot be sold or traded on a secondary market, but bond holders can request that their bond be repaid early.  Investors should also read the small print to determine if this bond is a suitable investment.  Like other peer-to-peer products the mini-bond is not covered by the FSCS (Financial Services Compensation Scheme).