Access Accounts 'non-normal-market-conditions' fee explained

If the last 12 months are profitable for AC this can only have come from the lender fees and Government loan schemes. I suspect once the loan support from Government ends we will then see the true state of AC and it's loan book. However I suspect the Government will carry on a reduced support for a time after the end of Covid.

One thing is certain in that the non Government funded AC loan book will be greatly reduced as the result of Covid and AC actions during this period, although new money is coming in it is not nearly enough to remove the exit queue which is going down mostly as result of repayments. Perhaps the Ratesetter money will arrive at some point but no sign of much coming through at present. One real problem for AC is that they will need to find good loans and new investors to replace the large lenders that left AC due to the flat rate distribution, I cannot see these coming back anytime soon. From the posts and what I have learnt over the last year the larger investors are the ones most upset with AC and either leaving or left and the smaller investors or those with no significant money in AAs are happier with AC. As I said before if AC are happy to lose the large investors and replace with a number of smaller ones that is fine if it works. However the lender fees, constant changes to rules of the AAs and in particular these latest changes and exit fees do nothing to encourage new money. IMO one of the AAs greatest benefits is they were simple with access, so appealed to the investor who did not want to spend hours going into the rules and trying to factor in the cost of leaving etc, that has of course now gone. If AC want new investors money a carrot rather than a stick approach will work far better, how about a 0.125% increase in rate for any money held more than 6 months and 0.25% for money held more than a year in an account, this bonus is lost for repayments once the notice period expires or perhaps when notice is given to stop rolling requests followed by cancelling to achieve a reduced notice period for the 30D and 90D accounts.