Peer to peer real estate investment platform, easyMoney, has today announced that it has increased its target rates by a further 0.25%, passing on the benefit of the increase in interest rates seen last week.
Last week the Bank of England raised interest rates for the 13th consecutive time, bringing the base rate up to 5% – the highest seen in over 15 years since April 2008 when the base rate also sat at 5%.
While this may be bad news for those looking to borrow, particularly those attempting to climb the property ladder, it’s a far more welcome announcement for those who stand to benefit from a higher rate of return on their investment.
In an otherwise uncertain investment landscape, easyMoney is leading from the front, ensuring that the benefit of escalating interest rates is enjoyed by its investors.
Having already increased their target rates by 0.5% back in January and by a further 0.25% in May, the firm has today announced it will be adding a further 0.25% for investors.
As a result, their new rates are as follows:
Investment Amount Old Rate per annum New Rate per annum
£100.00+ 4.78% 5.03%
£20,000.00+ 5.77% 6.02%
£100,000.00+ 6.76% 7.01%
Jason Ferrando, CEO of easyMoney said, “It’s fair to say that many companies have been less than prompt when it comes to passing on the benefit of higher interest rates to the consumer, both within the sphere of conventional savings and the realm of ISA investment.
“We simply don’t think this is fair, particularly at a time when many of us are still feeling the pinch financially and so we’ve taken the decision to increase our target rates once again, following last week’s Bank of England announcement.
“Our new target rates are effective as of today and all existing investments have been automatically moved to our new rates.”