Assetz Capital may start to limit investment into the peer-to-peer lending platform within weeks.
Stuart Law, chief executive of Assetz Capital, said that with lots of investment into the platform, including from RateSetter, Assetz Capital may need to limit investment into the platform.
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“We haven’t put the gates up, at the moment it’s okay but we’re keeping a close watch on it,” he said.
“If there’s too much idle cash not being invested we would have to close the doors, it doesn’t do any good to the provision fund so we have to reduce interest rates if there’s too much idle money in, or put up the gates.
“I don’t think we will reduce rates, we will limit how and when people can invest into their accounts. This can happen as soon as April, but I don’t think it will.”
Law said that Assetz Capital is just weeks away from resuming retail lending in its access accounts.
“We’re getting back up and running on retail lending in the access accounts, it’s only a short time away, it looks pretty likely we are two to four weeks to getting back to how we were with the queue,” he said.
“There’s no guarantee but the figures suggest the access accounts will be back to normal in April.”