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Wellesley & Co launch TV commercial
Wellesley & Co have launched a new TV commercial for their peer-to-peer offering. Having secured their position as the 5th biggest peer-to-peer company in the UK (by capital outstanding), they are looking to continue their growth.
There is an interesting promise in the commercial:
Wellesley guarantee your rate they give you - it won't go down - ever.
Wellesley & Co contacted us to clarify the promise and have suspended the original advertisement:
“The statement in question refers to Wellesley & Co offering Fixed Rates of Return. When a client commits funds to Wellesley & Co, we agree a rate and a term. We promise that the rate we’ve agreed will not change to the downside, however we cannot guarantee the return of capital as it is at risk if a borrower fails to repay a loan. This is the intended understanding of the advertisement.
In the process of creating the content for the commercial, we created what we believed to be clear, fair and not mis-leading, now that the advertisement is live we have reviewed the content again, we have suspended it temporarily while we investigate into it further as part of our commitment to clear, fair and not mis-leading financial promotions.”