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Post by Financial Thing on Dec 21, 2015 13:41:42 GMT
My wife has 3 18 month £20k sums repaying in early January. Sent an email to wellesleyco asking if the rates for reinvesting would be lifted and told no, rates would be as advertised. She is not going to accept a reduction in interest so it looks like SS and MT will have more funding going there. It depends on what they're offering at the time. I emailed last week and they responded: Currently we do have the following promotional rates available for customer who have had lending terms mature recently: 4.65% (Annual) on 18 Months: Interest Paid Maturity 6.10% (Annual) on 3 Years: Interest Paid Maturity 6.76% (Annual) on 5 Years: Interest Paid Maturity Terms and Conditions 1. Offer valid immediately and ends 5pm on 10th January 2015. 2. Minimum investment is £5,000. 3. This offer is valid for new deposits, Interest and matured funds only. Early Access requests made during the promotional period cannot be reinvested at a later date in order to receive the promotional bonus. 4. Wellesley & Co. reserve the right to remove this offer at any time during the promotional period. 5. This offer cannot be held in conjunction with any other promotional offers. Should you wish to take advantage of this offer, please contact me directly.
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Post by organum on Dec 23, 2015 4:40:42 GMT
These sort of offers where interest is only paid on maturity makes me worried. Locking money in for the long term is clearly the aim of many financial institutions but when it is the only option this is not a good sign.
i have been increasing my Wellesley investments recently but the lack of transparency means I keep my investments to lower levels.
always fingers crossed eh?!
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Feb 14, 2017 16:45:17 GMT
Wellesley have started phoning existing customers a promotional offer to discourage them withdrawing maturing tranches. The deal is 3.35/4/4.5% for 12/18/24 months.
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kaya
Member of DD Central
Posts: 1,150
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Post by kaya on Feb 14, 2017 16:53:21 GMT
No surprise there!
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Post by easteregg on Mar 2, 2017 15:49:46 GMT
Wellesley have started phoning existing customers a promotional offer to discourage them withdrawing maturing tranches. The deal is 3.35/4/4.5% for 12/18/24 months. I have not been phoned but my promotional offer was 2.95% to 3.85% for 12 or 24 month income respectively.
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Post by eascogo on Mar 3, 2017 2:04:42 GMT
Wellesley have started phoning existing customers a promotional offer to discourage them withdrawing maturing tranches. The deal is 3.35/4/4.5% for 12/18/24 months. I have not been phoned but my promotional offer was 2.95% to 3.85% for 12 or 24 month income respectively. I received an email of promotional offer a few days after liquiditating my holding early: 3.0/3.6/4.0% for 12/18/24 months respectively. I see the rates offered are different in all three cases shown here. I suppose there is some logic, perhaps to do with size of holding.
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