Assetz Capital has launched Series 2 of its Great British Business Account (GBBA), offering investors a capped target gross interest rate of 6.25% per annum.
GBBA Series 2 automatically invests in business loans that have realisable asset security. Although the account has a similar investment mandate to Series 1, Series 2 is more tailored to current market conditions to capture a wider range of higher-quality loans than its predecessor. Over £4.5 million of investment capacity is available today within the account.
The arrival of Series 2 comes just a day after Assetz Capital launched its Innovative Finance ISA which is available on all of its automated investment accounts, with the inclusion of the Manual Lending Account in the ISA set to follow in early 2018.
Stuart Law, CEO at Assetz Capital said: “This Series 2 account is very similar to the previous Series 1 but has a slightly lower capped gross target interest rate in order to allow a wider spectrum of loans into the account than the Series 1 could achieve. We have continued to increase our average loan quality and our loan book now stands at an average of around 60% loan-to-value, providing a healthy level of asset security on each loan.
“The launch of GBBA series two caps off a brilliant year for the company and its investors and borrowers, and we have many more innovations in the pipeline for 2018.”