oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 26, 2014 17:23:59 GMT
Oh dear! Wellesley will be dropping their rates from June 16.  Better put a bit in quickly - cashback available  Nice of them to warn us. |
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jhma
Member of DD Central
Posts: 82
Likes: 53
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Post by jhma on May 26, 2014 19:19:57 GMT
Where is this info available? I have a substantial sum with Wellesley and I can't see this on the site and I don't recall an email about it?
Thanks!
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Post by rudry2677 on May 26, 2014 19:31:04 GMT
An email came thro' to me at 18:02 today. Check your emails, including the junk box. Your current investments are not affected.
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Post by uncletone on May 26, 2014 19:32:48 GMT
It is an email. The critical sentence is "Existing lending held by our customers will be unaffected by this change."  |
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bugs4me
Member of DD Central
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Post by bugs4me on May 26, 2014 21:09:57 GMT
Will be interesting to see where their new rates will be especially as feelings are that base interest rates will gradually but surely move north.
So far so good for Wellesley overall as they are good on rates plus that all important factor namely communication - something lacking with other P2P platforms. Hope they (Wellesley) don't go and screw the golden goose over this (that's lenders) by trying to drop those rates too much.
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Post by yorkshireman on May 26, 2014 23:14:47 GMT
With the cashback you could earn 4.75% for 6 months if you pay in £5k, or £10k for that matter.
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Post by wellesleyco on May 27, 2014 8:11:47 GMT
Good Morning all, I hope that you are well after the bank holiday weekend. bugs4me the New Interest Rates are available to see at www.wellesley.co.uk/new-interest-rates . There is a cashback offer for those willing to take advantage of the higher rates for the next three weeks (Rates lower on the 16th June). We felt it very important to give everyone the heads up about this. We review our rates so that they are a fair reflection of the risks involved with secured lending given the risk mitigation that we have in place. With BoE interest rates seemingly heading back up in Spring 2015, that will also play a part in any rate reviews. uncletone It is an important point that you make, I must stress that all existing and new terms up until the rate comes down, have a fixed rate. Therefore if you start a term before the 16th of June, you will receive the rate given at that time for the duration of the term. |
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