puddleduck
Member of DD Central
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Post by puddleduck on May 16, 2018 11:15:41 GMT
Very welcome indeed!
'We're excited to announce our first ever rate rise across our Access Accounts!
This rate increase which takes effect from 1st May 2018 until further notice, will take target gross interest rates for the Quick Access Account and 30-Day Access Account from 3.75% to 4.1% and 4.25% to 5.1% respectively.*
'
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victors
Member of DD Central
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Likes: 86
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Post by victors on May 16, 2018 11:18:56 GMT
Makes the GBBA and Property accounts hardly seem worthwhile for the little extra interest.
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savernake
Member of DD Central
Posts: 174
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Post by savernake on May 16, 2018 11:27:08 GMT
This is brilliant news! Thanks very much AC. It now brings the 30DAA rate much closer to Growth Street, but without the cash drag.
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p2pete
Member of DD Central
Posts: 144
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Post by p2pete on May 16, 2018 11:29:56 GMT
The 30DAA rate is currently higher than RS 5 year rate!
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Post by df on May 16, 2018 11:30:44 GMT
Wonderful!!!
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ant1
Member of DD Central
Posts: 54
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Post by ant1 on May 16, 2018 11:33:42 GMT
Wow, wasn't expecting that. Well done Assetz.. .and thanks!!  |
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alexs
Posts: 37
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Post by alexs on May 16, 2018 11:37:32 GMT
Great news!
At the same time AC seem to have dropped the information how much is currently invested in the QAA/30DAA which was quite useful to get some further comfort on top of the information of the "time to withdraw" in case of the QAA.
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dandy
Posts: 427
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Post by dandy on May 16, 2018 11:39:18 GMT
Very welcome indeed! 'We're excited to announce our first ever rate rise across our Access Accounts! This rate increase which takes effect from 1st May 2018 until further notice, will take target gross interest rates for the Quick Access Account and 30-Day Access Account from 3.75% to 4.1% and 4.25% to 5.1% respectively.* ' AND ... at the same time they remove from view the amount in each account. Why the reduction in transparency chris - what is the genius rationale behind removing a critical piece of data with no notice and apparent reason. couples with a HUGE rate change? Should we be worried about your liquidity in the access accounts?!
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Post by df on May 16, 2018 11:42:32 GMT
The 30DAA rate is currently higher than RS 5 year rate! And it is much more flexible product than RS 5year. Also it doesn't require time consuming maintenance.
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rick24
Member of DD Central
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Post by rick24 on May 16, 2018 11:45:47 GMT
AC must be feeling the need to incentivize investment, whether to maintain or increase the current levels.
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jaswells
Member of DD Central
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Post by jaswells on May 16, 2018 11:47:29 GMT
My inquisitive nature makes me think why? After all Assetz (i believe) are not a profit making enterprise yet. I like ti think it is a marketing coup based on present weaknesses/ weak management on other platforms but there are of course other theories  |
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bg
Member of DD Central
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Post by bg on May 16, 2018 12:09:55 GMT
My inquisitive nature makes me think why? After all Assetz (i believe) are not a profit making enterprise yet. I like ti think it is a marketing coup based on present weaknesses/ weak management on other platforms but there are of course other theories I believe AC has been returning a profit for a while now. I think the reason they have done this is because they have a very strong pipeline at the moment and they want to make sure they can fill the loans. They have recently started using their underwriters again for this very reason. Removing the total invested amounts though is a massive backwards step. I can't think of a good reason why they would do this. Reducing transparency is a huge backwards step for a platform that has always tried to keep it at the forefront.
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crapo
Posts: 40
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Post by crapo on May 16, 2018 12:15:58 GMT
Very welcome indeed! 'We're excited to announce our first ever rate rise across our Access Accounts! This rate increase which takes effect from 1st May 2018 until further notice, will take target gross interest rates for the Quick Access Account and 30-Day Access Account from 3.75% to 4.1% and 4.25% to 5.1% respectively.* ' Great!
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misscas
Member of DD Central
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Post by misscas on May 16, 2018 12:21:38 GMT
I believe AC has been returning a profit for a while now. I think the reason they have done this is because they have a very strong pipeline at the moment and they want to make sure they can fill the loans. They have recently started using their underwriters again for this very reason.Removing the total invested amounts though is a massive backwards step. I can't think of a good reason why they would do this. Reducing transparency is a huge backwards step for a platform that has always tried to keep it at the forefront. Therein no doubt lies the answer as to why Assetz decided to stop displaying the total. Less experienced lenders not fully understanding the function of these funds may get concerned when the total value drops significantly.
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bg
Member of DD Central
Posts: 1,368
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Post by bg on May 16, 2018 12:23:39 GMT
I believe AC has been returning a profit for a while now. I think the reason they have done this is because they have a very strong pipeline at the moment and they want to make sure they can fill the loans. They have recently started using their underwriters again for this very reason.Removing the total invested amounts though is a massive backwards step. I can't think of a good reason why they would do this. Reducing transparency is a huge backwards step for a platform that has always tried to keep it at the forefront. Therein no doubt lies the answer as to why Assetz decided to stop displaying the total. Less experienced investors not fully understanding the function of these funds may get concerned when the total value drops significantly. They wouldn't drop though. When the QAA is used to underwrite a loan the funds still remain in the QAA......it just means the QAA holds the loan units of the loan in question. The QAA balance doesn't shift.
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