easyMoney unveils latest rate increase
Peer-to-peer property lender easyMoney is increasing its target rate for investors by 0.25 per cent each month for the next three months.
This is the fifth time that easyMoney has raised investor rates this year.
“This doesn’t include the professional investors, but we are now offering up to 10 per cent target rate on those accounts also,” an easyMoney spokesperson said.
The platform last increased target rates in July. For investments of £100 or more, it increased the target rate to 5.28 per cent. For investments of £20,000 or more, the new rate was 6.27 per cent, and for £100,000 or more, it was 7.26 per cent.
Folk2Folk has raised its target returns from 6.5 per cent to 8.75 per cent, while CrowdProperty increased its target returns to between eight and nine per cent in May, before hiking them again to 10.5 per cent in July.
Some P2P stakeholders have claimed that higher rates are necessary to attract new investors, especially after investor incentives were banned in the latest swathe of stricter rules on the sector.