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Post by buggerthebanks on Dec 14, 2015 19:38:09 GMT
Had an 18-month bond maturing with Wellesley &, like many others here, find their current rates uncompetitive. However, after requesting a withdrawal I was offered the following:-
4.65% for 18 months 6.1% for 3 years 6.76% for 5 years
All of the above are PA rates with interest paid on maturity (in other words, "simple" (not compounded) interest). Not market-leading rates but high enough for me to re-invest with them (which helps maintain my platform diversity). Offer ends 8th January 2016 & requires a minimum £5K investment. Anyone else tempted by this?
Kind of nice to see superior deals for existing customers: we usually see the opposite in the banking sector.
BTB.
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oldgrumpy
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Post by oldgrumpy on Dec 14, 2015 21:38:25 GMT
I did hover over and consider the 3 year proposition. My existing 3 year tranches are at 6.5%, taken out soon after Wellesley launched their platform, and before their two rate reductions.
If they were to push back up to 6.5% or 6.6% even for their existing investors, I might keep my money in (and add a bit more).
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Post by mrclondon on Dec 14, 2015 22:08:14 GMT
Considered and rejected. Another half to one percent would have tipped the balance though.
At the moment I'm pretty much fully invested, so can almost certainly find more attractive propositions for the cash before too long.
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littleoldlady
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Post by littleoldlady on Dec 14, 2015 22:18:47 GMT
They probably cannot afford to pay more due to the cost of TV advertising and they probably don't need to pay more due to the power of TV advertising.
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bugs4me
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Post by bugs4me on Dec 14, 2015 22:41:10 GMT
There was mention made in an ancient thread about their rates coincidentally dropping at the same time as their TV campaign started. They did run a special offer in March this year - 6.75% for 18 months which I took advantage of.
I was in at the early stage like Grumps and have 6.5% for 3 years and 7% for 4 years. So sorry W, with a threatened rate rise (again) on the cards you need to at least match what was originally on the table and no, I'm not interested in the W Bond.
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ben
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Post by ben on Dec 14, 2015 22:58:00 GMT
There was mention made in an ancient thread about their rates coincidentally dropping at the same time as their TV campaign started. They did run a special offer in March this year - 6.75% for 18 months which I took advantage of. I was in at the early stage like Grumps and have 6.5% for 3 years and 7% for 4 years. So sorry W, with a threatened rate rise (again) on the cards you need to at least match what was originally on the table and no, I'm not interested in the W Bond. they have gone up to a 7 year bond
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warn
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Post by warn on Dec 15, 2015 7:57:03 GMT
Had an 18-month bond maturing with Wellesley &, like many others here, find their current rates uncompetitive. However, after requesting a withdrawal I was offered the following:- 4.65% for 18 months 6.1% for 3 years 6.76% for 5 years All of the above are PA rates with interest paid on maturity (in other words, "simple" (not compounded) interest). Not market-leading rates but high enough for me to re-invest with them (which helps maintain my platform diversity). Offer ends 8th January 2016 & requires a minimum £5K investment. Anyone else tempted by this? Kind of nice to see superior deals for existing customers: we usually see the opposite in the banking sector. BTB. Interestingly, I just withdrew a maturing loan of £10000, and was offered the same promotional rates but with a minimum investment of £10000.
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oldgrumpy
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Post by oldgrumpy on Dec 15, 2015 9:49:39 GMT
My withdrawal was a £6K one, and my promotional offer was on a £5K minimum. This week I have two £2K loans maturing, so it'll be interesting to see what the minimum reinvestment for those will be.
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sl75
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Post by sl75 on Dec 16, 2015 17:53:55 GMT
Kind of nice to see superior deals for existing customers: we usually see the opposite in the banking sector. IME, superior deals for "good" customers attempting to leave aren't exactly rare... I've got several credit cards I previously attempted to close - some of them several times!
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oldgrumpy
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Post by oldgrumpy on Dec 17, 2015 0:30:28 GMT
I have a £2K 18 monther mature today. Another one comes up tomorrow.
A pop-up appears saying I have cash available, and a button, "invest now".
That leads me to the options, which do not include any promotional rates. Tomorrow I will ask to withdraw both maturing tranches. I wonder if the promotion only applies when we actually withdraw funds.
Slinky.
update 17.12.15 No second/third offers. The offer was sent from a person, so she probably knew I already had an offer lasting until 8 January for min £5000.
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ilmoro
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Post by ilmoro on Dec 17, 2015 21:09:20 GMT
My withdrawal was a £6K one, and my promotional offer was on a £5K minimum. This week I have two £2K loans maturing, so it'll be interesting to see what the minimum reinvestment for those will be. Grumps. How was the offer made? By email? Got two relatives who have made £5k+ withdrawl requests & had nothing yet. How soon after the request did the offer appear? Thanks
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Post by mrclondon on Dec 17, 2015 23:14:55 GMT
My withdrawal was a £6K one, and my promotional offer was on a £5K minimum. This week I have two £2K loans maturing, so it'll be interesting to see what the minimum reinvestment for those will be. Grumps. How was the offer made? By email? Got two relatives who have made £5k+ withdrawl requests & had nothing yet. How soon after the request did the offer appear? Thanks I requested the withdrawal mid/late morning, the email advising the offer was timed at 14:17 that day, with the withdrawal confirmed email timed just 5 minutes later.
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oldgrumpy
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Post by oldgrumpy on Dec 17, 2015 23:58:15 GMT
My withdrawal was a £6K one, and my promotional offer was on a £5K minimum. This week I have two £2K loans maturing, so it'll be interesting to see what the minimum reinvestment for those will be. Grumps. How was the offer made? By email? Got two relatives who have made £5k+ withdrawl requests & had nothing yet. How soon after the request did the offer appear? Thanks Within minutes. The original offer was made almost simultaneously with (but separately from) the confirmation that the withdrawal had been processed. I have made three withdrawals of maturing bonds in the last week. Wellesley are fast and efficient at processing them and transferring the cash.
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Post by Financial Thing on Dec 18, 2015 14:06:12 GMT
you can email support and ask for the offer, they will give it and you can take advantage via email.
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littleoldlady
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Post by littleoldlady on Dec 18, 2015 19:14:11 GMT
you can email support and ask for the offer, they will give it and you can take advantage via email. I can confirm that I did this once.
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