WELLESLEY has launched a new customer incentive to reward its bond-holders for investing early in the month.
Under the terms of the new Early Investor Interest initiative, any Wellesley account holder who adds money in the first half of the month will earn interest for the whole month of the subscription period.
Previously, any funds which were committed to a bond during the subscription period would not start interest until the bond was listed on the Euronext Dublin exchange.
This means investors will effectively get an additional month’s interest.
“We think investors deserve a better deal, so we decided to change the rules,” said a blog post on the alternative property lender’s website. “As of this month (August 2019), investors into Wellesley’s listed bonds will earn interest for the whole month of the subscription period if they subscribe to the bond in the first half of the month.
“Taking advantage of Early Investor Interest is easy. Simply ensure you’ve subscribed funds to a listed bond by the Early Investor Interest deadline and we’ll pay the extra month’s interest into your holding account when the bond lists.”
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In order to take advantage of the incentive, investors must have subscribed funds to the Wellesley Property Bond before 2pm on Friday 16 August. Wellesley will then calculate one month’s interest and this will be paid into the investor’s holding account when the bond lists.
For example, if £10,000 were invested into the Wellesley Property Bond for three years at four per cent, per annum, the investor would receive an additional monthly interest payment of £33.33 into their account.