Wellesley and co cashback and experiences

Hi, i;m a seasoned peer to peer lender and was wondering about whether to invest in wellesley and co or not, i've around £10,000 to invest. They had a very attractive cashback package recently, £750 for investing £10,000 but have stopped that. Does anyone know if they will have any new cashback coming out?If you've invested with them, what are your experiences with them?

Comments

  • TheTracker
    TheTracker Posts: 1,223
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    My view is they target new lenders to the market and seasoned lenders would place money elsewhere for better returns for risk.

    Who do you think pays for the cashback? Other lenders/borrowers.
  • colsten
    colsten Posts: 17,597
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    edited 5 October 2015 at 6:57PM
    manutdsc wrote: »
    Hi, i;m a seasoned peer to peer lender

    WOW! A seasoned P2P lender at the tender age of 22. Brilliant achievement, particularly since you are, in your own words, quite a risk-averse individual.

    Which P2P lenders do you have experience with, how much have you been / are you currently lending, and how have you contained the risk throughout your lending career? It would be useful to share your approach as many are looking to reduce their risks.
  • Trentenders
    Trentenders Posts: 1,268
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    I picked up the iPad offer that was on a couple of months back. If it wasn't for that then I wouldn't have used them. There are 'safer' platforms paying higher rates - there are also comparable platforms that pay considerably more.
  • Malthusian
    Malthusian Posts: 10,857
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    I am fairly anti P&P (too many unquantifiable risks, too many unanswered questions) so feel free to ignore my views, but I wouldn't invest in anything whose selling point was cashback upfront. Investing in risky assets should be based on expected risk and return over the next five years or more. Someone offering cashback upfront makes me suspicious that there is something about the former they are not telling you.
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