It has been announced today that the The Bank of England’s Monetary Policy Committee has maintained the Base Rate at the historic low of 0.5% for another month. This comes as no surprise as it has been reported that the rate will remain at the level until after the General Election this year. When the bank rate does increase, it is predicted to raise gradually over a period of time to reach 2.5%.
Wellesley & Co. has recently introduced a 30 Day Easy Access Product which tracks the Bank of England’s Base Rate +1.8%, therefore as the Base Rate increases as does the return on investor’s funds. Currently the rate of interest of Wellesley & Co.’s Early Assess product ranges from 2.30% – 2.32% pending on investors choice of monthly interest payments or interest paid on maturity. The minimum term period is 30 days however, as this is a rolling product lenders can extend the term to as long as they want.
If you would like further information on the Wellesley & Co. 30 Day Easy Access Product please see here. Alternatively, if you would prefer to talk to somebody about your options, please telephone the London based Customer Service Department on 0800 888 6001 or email [email protected].