The summer is officially over, with the clocks being turned back this weekend, and so why don’t you start planning your next summer holiday?
With interest rates at an all-time low and investment options limited, it’s a tough time to earn a decent rate of return on funds. The Bank of England has maintained the Base Rate at 0.5% for six years and it has been reported that the rate is not expected to increase until late next year. This leaves little hope for investors hoping to gain a substantial income from their investments and, therefore, it’s a struggle to put money away for that all important summer break.
Where would you like to go?
The Telegraph recently stated their top 10 summer holiday destinations in Europe: 
- Sardinia
- Sicily
- Mallorca
- Crete
- Ibiza
- Lanzarote
- Corfu
- Tenerife
- Menorca
- Malta
Europe has some of the most beautiful beaches in the world that boast clear blue waters. Malta, for example, has some of the cleanest seas in the Mediterranean, and is much enjoyed by visiting swimmers, snorkelers and divers. Malta is also well-known for its 7,000 year history and is said to have a hugely dense array of historic sights – more so than any other European country. Starting with its unique prehistoric temples, some of the oldest stone buildings in the world, it also has Roman catacombs, medieval towns, and the extraordinary architectural and artistic legacy of the Knights of St John (the Knights of Malta).
If you prefer the pairing of stunning coastlines and world-class nightclubs, the White Isle of Ibiza may be for you. Further afield from the UK, Corfu is one of the greenest Greek islands and is home to thousands of olive trees that cover the stunning landscape. Corfu is a gem in its own right and strays away from the tourist honeypots of the rest of the Greek islands and has a sleepy reputation – some may say perfect for a relaxing week away.
Mallorca may be an option, with just over a two-hour plane journey. Visitors can enjoy both its coastline and the Serra de Tramuntana mountain range, which has been made a World Heritage Site in recognition of the extraordinary techniques used to develop agriculture on its steep slopes over the centuries. Furthermore, Mallorca possesses vineyards in the centre of the island that are very much in keeping with local traditions and are well worth a visit.
If you are a sun worshipper, Lanzarote is a must with its temperatures remaining in the high 20s throughout the summer months. What’s more is that, this year, Lanzarote had no rainfall at all between May and September, making it the perfect beach holiday destination.
Financial planning alternatives
Whatever the location of choice, holidays require a degree of financial planning. There’s all kinds of advice, from reducing your household bills through installing water meters, to shopping around for the best deals. However, many individuals simply rely on income from a second job or merely an investment pot to ensure they reach their holidays each year.
Hunting for an investment income is challenging in the current investment landscape. Savings accounts, cash funds, corporate bonds and stocks and shares are not offering both security and appealing rates of return. Investment options are limited for investors looking to make a decent return on their funds, but there are different ways by which individuals can afford trips abroad, and a straightforward alternative is by investing through Peer-to-Peer lending platforms.
The holiday fund alternative
Wellesley and Co is a Peer-to-Peer lending platform that offers products that could see you earn a yearly income of up to 6.32%. Our P2P lending products also offer the option of interest paid as a monthly income which could nicely top up your holiday fund each month. The Wellesley Way is simple and different to many investment choices on the market as we specalise in asset-backed lending and always lend alongside our lenders to borrowers that we trust.
P2P lending is a great alternative for investors that completely understand the associated risks. P2P lending through Wellesley & Co involves lending to businesses and individuals and therefore leaves investors’ capital at risk. Please see here for all of the associated risks involved in investments made through Wellesley & Co. Please seek independent financial advice if you are unsure about our investment terms before committing any funds.
Giving your finances a boost can be aided through the right investments. Why not try Wellesley & Co and see your holiday become a reality sooner, rather than later. Call us on 0800 000 6001 or e-mail us at [email protected].