02-07-2018, 12:56 PM
The one thing that concerns me is that their rates are fixed with no provision for an uplift in changed circumstances. This is a business model that was valid in an era of loose money and declining borrowing costs but things are starting to change, interest rates globally are starting to revert to the mean (as they inevitably do) and the UK will follow and inflation will start to bite. Even the one year rate looks less than appealing, while the interest rate is unlikely to over take it in a 12 month period, once you allow for inflation (at the current rate let alone any increase) then you are already only getting what is available from a cash ISA (and a few are better) with considerably less platform and loan risk while benefiting from the FSCA deposit guarantee.
I am coming to realise what I had considered to be a nice low risk fire and forget platform is actually very far from it.
I am coming to realise what I had considered to be a nice low risk fire and forget platform is actually very far from it.