Stuart Law

Assetz Capital rate rise leads to £10m investment

Assetz Capital has announced that its recent rate rise saw investors add around £10m to their access accounts in the first month.

The P2P lender increased target interest rates for its quick access account and 30-day access account from 3.75% to 4.10% and from 4.25% to 5.10% respectively.

Assetz Capital made the announcement on 16th May 2018, but the changes were effective from 1st May 2018.

The increase in investment was across both Isa-wrapped and non-Isa accounts.

Stuart Law, CEO at Assetz Capital (pictured above), said it knew how much its lender community values the access accounts.

“We’ve been very encouraged by the reaction to the rate rise by our existing lender base and have welcomed plenty of new investors to the fold, too – many of whom are opting for an Isa-wrapper and transferring existing Isas on to the platform.

“Our access accounts are designed to do what they say on the tin and deliver ready access to cash in normal market conditions – although we make it clear to all investors that access times cannot be guaranteed.

“We continue to see the average balance of individual investors actually grow month-on-month, with average investment for invested lenders growing to around £23,000 per account, and we have serviced over £768m of withdrawal requests on time, every time for our investors to date within the access accounts.

“Borrower demand remains high, putting us in a strong position as we move towards the second half of the year – steadfast in our mission to boost the economy, and therefore jobs and GDP, through providing growth capital to SMEs and fair returns for investors.”

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