Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Log In
shutterstock_1556581226
November 13 2019

Assetz Capital closes two of its highest paying P2P accounts

Marc Shoffman Industry News, News Assetz Capital, peer-to-peer, property, Stuart Law

ASSETZ Capital has closed two of its highest paying auto-invest accounts.

The peer-to-peer business lender told investors on Wednesday morning that it would no longer accept contributions into its Great British Business Account Series 2 (GBBA2) or its Property Secured Account (PSA).

GBBA Series 2 offered a target interest rate of 6.25 per cent and the PSA offered target returns of 5.5 per cent.

In contrast, investors can earn 4.1 per cent in Assetz Capital’s Quick Access account, 5.1 per cent in its 30-day access account, 5.75 per cent in its 90-day access or up to 12.5 per cent through manual lending.

The platform said the accounts had proved less popular since the launch of its 90-day account earlier this year.

Read more: Assetz Exchange gets set for wider public launch

Read more: Assetz Capital warns Brexit optimism is slipping away

“We’ve closed these accounts to new investment to simplify the platform and create the best possible lending experience,” Assetz Capital said in an email to investors.

“Our credit policy is now that all loans must have property security. As such there is no longer a need for a differentiated PSA.

“As we’ve grown our platform, we’ve listened to your feedback and monitored which accounts you’re investing through.

“With the ever-growing popularity of the ‘Access Accounts,’ including the introduction of our 90 Day Account back in March this year, the growth of the GBBA2 and PSA has remained relatively static.”

Read more: Assetz Capital closes Green Energy Account

Blend Network enters proptech partnership to speed up appraisals  New Open Banking-powered credit assessment product launches

Related Posts

Michelle-Mone-photo-credit-Dan-Kennedy

Industry News, News

Michelle Mone’s crypto platform rebrands again

shutterstock_529618147

Industry News, News

Assetz Capital dips into provision fund to refund wind energy investors

shutterstock_1383378692

Global News, Industry News

Funding Circle urges US regulators to follow UK model

Popular posts:

  • Lendy administrator confirms how P2P investors will…
  • P2P platform collapses serve warning about taking…
  • RateSetter: P2P lending approaching ‘watershed…
  • Landbay exits retail P2P lending market
  • Funding Circle goes live with secondary market changes
  • Hargreaves Lansdown’s P2P lending architect joins RateSetter
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2019 • Additional design by