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Wellesley Finance makes loans solely to businesses (these business loans include but are not limited to business development finance, business buy-to-let, and first/second charge loans for business purposes). As a result, these loans do not have the benefit of the protection and remedies that would be available to you as a consumer in the context of a non-business loan. Wellesley Finance is not permitted to undertake retail loans to consumers. If you are a retail consumer seeking a non-business loan, you should not seek to obtain a loan from us. Business loans will be secured on relevant assets and these assets are at risk in the event of the loan being in default. A property asset may be repossessed if repayments are not kept up on a loan or other asset secured on it. If you need advice on any of these matters, or you are in any doubt as to the consequences of taking out a loan with Wellesley Finance (including not being regulated), you should seek independent advice from an appropriately qualified professional. Wellesley Finance recommends that you consider whether a potential business loan meets your own creditworthiness, risk levels and objectives. You should be seeking to borrow funds only if you believe that your business activities are capable of repaying those funds and that you have considered the required repayments in relation to your other financial commitments.

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Our loan book performance

October 25, 2017

As we have said before, we changed our strategy in early 2016 to move away from smaller, bridging type deals and towards larger development loans. We have been successful in doing so and I can confirm that since the start of 2016 we have approved 66 new loans with a cumulative facility limit of £300m.

This represents an average deal size of £4.5m but that average masks a wide range with the smallest deal being £131,000 and the largest over £30m. Of all these loans, we have not seen any losses emerge and since we measure our lifetime losses against lifetime lending, that measure of losses has fallen from a peak of 1.2% to 0.8%.
It is also worthwhile noting that these loans will ultimately have supported the construction of over 1,500 homes.