Blog
26th May 2017

FAQ’s regarding changes to our product range

What’s changing?

From the 31st May 2017, Wellesley will not be accepting any additional investment into the existing Peer-to-Peer lending product. Customers with products maturing before the 31st May will be able to re-invest their funds prior to the Peer-to-Peer lending product being removed from the site. Wellesley & Co will be launching its new Peer-to-Peer lending product in Q3 2017, and the new product will continue to service our customer base in the future.

Why is the Peer-to-Peer lending product being removed from sale?

Wellesley is currently working towards full authorisation by the Financial Conduct Authority (FCA). Presently we have sufficient lender funds available which allows us to pause the existing Peer-to-Peer product whilst we will be make a few changes to our product range over the coming months.

How does this affect me and my existing investment?

As a Wellesley investor, your existing Peer-to-Peer lending investment will remain under its current terms until its contractual maturity. This means that it does not affect your existing investments and you do not have to take any action on your account.

Can I make new investments through Wellesley?

Yes, our other products are still available for investment. The new Peer-to-Peer product will be launched in Q3 2017. To view our other products on offer, Click Here.

Investment through Wellesley involves lending to individuals or companies and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults. Investment through Wellesley is not covered by the Financial Services Compensation Scheme.

What date will the Peer-to-Peer lending product no longer be available for investment?

The Peer-to-Peer lending product will not be accepting any additional investment from the 31st May 2017.

How the risks to my investment changed?

The temporary removal of the Peer-to-Peer product will not affect the way in which we service the loans which your funds are matched to. There will be no changes to the way in which your funds are managed and Wellesley will continue to provide you with a high level of service.

To take a look at how we manage the risks associated with Peer-to-Peer lending, Click Here.

Investment through Wellesley involves lending to individuals or companies and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults.

Do I need to do anything?

You do not need to anything, your existing Peer-to-Peer lending investments will continue to be serviced as usual.

Does the change affect money in my holding account?

No, funds sitting in your holding account can be withdrawn or invested into another one of Wellesley’s investment products.

Will I continue to earn interest at the same rate?

You will continue to earn interest at the same rate and we will continue to service your existing investments as usual until the maturity of your lending terms.

Who can I speak to at Wellesley about this?

Our Customer Service team is available between 8.30am to 5.30pm Monday to Friday to help with any questions you may have.

You can contact them either by telephone on 0800 888 6001 or by email at [email protected].

 

Investment through Wellesley involves lending to individuals or companies and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults. Investment through Wellesley is not covered by the Financial Services Compensation Scheme.

Bear in mind

Wellesley Property Bond

  • The Wellesley Property Bond has a fixed rate and duration.
  • The Wellesley Property Bond is an ISA eligible investment, allowing you to earn tax free interest on your investment. Please note, tax allowances and the tax efficient benefit of ISAs could change in the future.

Your capital is at risk and interest payments are not guaranteed. Investment in any Wellesley Property Bonds are not covered by the Financial Services Compensation Scheme (FSCS). In the event of a loan default or if Wellesley Secured Finance Plc becomes insolvent, you may lose some or all of your investment, including interest payments due. If you are in any doubt about making an investment or do not fully understand the risks, you are strongly recommended to consult an independent professional financial adviser before you subscribe.

Wellesley is the singular name for the following collective of companies, Wellesley Group Limited (09811856), Wellesley & Co Limited (07981279) and Wellesley Finance Plc (08331511). Wellesley Secured Finance Plc was established as a special purpose vehicle for the sole purpose of issuing asset backed securities and is not part of Wellesley Group.

The information contained in this website has been approved as a financial promotion for UK publication by Wellesley & Co Limited (FRN 631197) who is authorised and regulated by the Financial Conduct Authority (FCA). Wellesley Property Bonds are issued by Wellesley Secured Finance Plc (the Issuer) and is not authorised or regulated by the FCA.

Wellesley & Co Limited and Wellesley Finance Plc are registered in England and Wales and their registered office and trading address is at St Albans House, 57/59 Haymarket, London SW1Y 4QX. The registered address for Wellesley Secured Finance Plc is at 1 Bartholomew Lane, London, EC2N 2AX.

 

Require further information?
Call our customer service team on 0800 888 6001 or e-mail us on [email protected]