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Post by wellesleyco on Jul 30, 2014 16:19:50 GMT
spiral this is 90% correct. I have copied your post and changes underlined below. ".... if you cash in a £1000 6% 5 year term after 1 year, the 1 year rate that you will receive is the equivalent to the 1 Year rate offered at the time you initially chose your (5 year) lending term. (ie. regardless of the 1 Year offer rate at the time of early access) and you repay in essence the interest rate differential at the time the term begun.If you have an interest Paid Monthly product, the difference will be deducted from the repayment of the Capital Sum. If you have an interest paid on Maturity term, the difference will be deducted from the accrued interest. I hope this explains it, any more questions please do post!
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spiral
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Post by spiral on Jul 31, 2014 8:31:31 GMT
If you have an interest Paid Monthly product, the difference will be deducted from the repayment of the Capital Sum. If you have an interest paid on Maturity term, the difference will be deducted from the accrued interest. This is an interesting statement. As a tax payer, if I believed I would need access early, I would be better opting for interest on maturity as this would reduce my tax burden whereas if I'd opted for monthly interest, I would still be burdened with the tax amount for the full interest to date but have a capital loss (which I assume can be used in CGT calculations). I'm not sure as I've never done it, but I believe on other platforms, the fee is a fee and therefore not offsettable against tax. Am I understanding this correctly?
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Post by wellesleyco on Aug 1, 2014 12:25:10 GMT
spiral. For the most accurate response, you would have to consult someone who is a tax specialist.
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Post by Deleted on Aug 6, 2014 14:39:11 GMT
Ive got an 18 monther at the old rate of 5.5%. Shame the rate was cut to 4.5% for that term. 4.5% isn't quite enough to tempt me back into the water. I have withdrawn my monthly interest to my bank and it all worked fine - first time I had to ring or email Wellesleys to confirm a few things but that's a one off process. The interest was in my bank the next day.
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oldgrumpy
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Post by oldgrumpy on Aug 28, 2014 11:20:10 GMT
Not an "early" but just a withdrawal of a matured "6 monther" from my holding account. £3000+ Requested 24 Aug, (Bank Holiday 25 Aug), processed 28 Aug (why not 26 or 27 Aug) (security check done as my first withdrawal). Confirmation 28 Aug "in my bank account within next four working days" (that takes us to 3 September). That is really far too slow in this day and age.
Note: Requests £10K + by "same day faster payment". Why not all requests by faster payment?
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Post by jackpease on Feb 17, 2015 8:14:05 GMT
By way of feedback, i've just done early withdrawal of several thousand pounds - dead easy - as easy and financially painless as Saving Stream. When I am investing in mode again I shall dump far more into Wellesley having 'tested' them in this way JP
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r00lish67
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Post by r00lish67 on Jan 18, 2016 9:51:37 GMT
Just a quick thanks to all for this old thread, quite reassuring. It nudged me into dipping my toes into the Wellesley Waters in conjunction with Moneysupermarket's current £100 cashback new account offer.
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warn
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Curmudgeon
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Post by warn on Jun 23, 2016 13:59:03 GMT
I was looking for a bit more info, so clicked on the "?" icon on the Early Access page: Sorted! Thanks.
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Post by eascogo on Jun 23, 2016 21:37:37 GMT
I was looking for a bit more info, so clicked on the "?" icon on the Early Access page: Sorted! Thanks. My Latin is nonexistent so asked Google Translate for help. Latin was duly detected. Here is the translation (into English): "Twist them mollis volutpat sollicitudin pain, but to us the service of that! Metus eleifend reason, this wise man to choose the stream was, to follow the shore. Right, right to the body, which had no softness" Then I pasted that translation back into Google Translate. English was (duly?) detected with the translation back to Latin reading: "Torquendo volutpat sollicitudin dolor mollis sed ut nos servitio! Metus eleifend rationem, illisum est eligendi sapiente sequi applicuerunt. Ius ad corpus quod habuit lenitatem" I leave the experts sort out how close this second version is from the original version.
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Post by uncletone on Jun 24, 2016 8:54:38 GMT
It is "Lorem ipsum". See here.
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