Wellesley Mini-Bond: FAQs

In July 2019, Wellesley closed its final mini-bond offering as it evolved its offering to exclusively offer listed bonds.

Some of the uses to which the proceeds of the Wellesley Mini-Bonds may be put would include, but are not limited to, the following:

No. As these are long term investments, it is unlikely that you will gain early access to your investment.

However, bondholders may submit a written request providing the reason for the request to Wellesley Finance Plc, and all such requests can only be made after the first anniversary of the bond.

As advised in the terms, Wellesley is under no obligation to accept your request for early redemption. Should your request be approved, no interest will be paid for the invested term, and any interest that has already been paid will be deducted from your capital.

Early bond closure requests will be permitted in exceptional circumstances only.

To redeem your Wellesley Mini-Bonds, simply log in to your online Wellesley account, click the 'Wellesley Classic' button at the top of the page, then click the “Give Notice” button next to the relevant mini-bond. You will need to provide notice of redemption at least six months prior to the redemption date (being the end of the applicable initial fixed term). Bondholders will receive their investment in full six months after they complete their notice of redemption (provided that the six-month notice expires after the relevant initial fixed term).

The company will e-mail you prior to the six-month deadline for redemption to remind you of the date (end of the initial fixed term) by which you will have to submit your completed notice of redemption. Until a completed notice of redemption is received, your holding of Wellesley Mini-Bonds will automatically continue and be capable of redemption by returning the notice of redemption on the reverse of your certificate.

By way of example, if you held a four year bond and notified Wellesley of your intention to redeem your Wellesley Mini-Bond six-months prior to the fourth anniversary of your bond, your capital and any interest will be repaid on the redemption date of your four year bond. If you do not notify Wellesley prior to the fourth anniversary of your bond, your bond will roll over for another year.

We are required to apply a withholding tax at the basic rate of income tax (currently 20%) on all payments of interest made to any individual investor. We will arrange for the tax due on payments of interest to be deducted from the interest payment made to each investor and will pay any such amounts to HMRC on your behalf.

As we're unable to provide any personal advice on tax issues, should you have any queries regarding your tax position or liability, we recommend contacting your local tax office or an independent financial advisor.