Fitzrovia Finance maintains 5.5% P.A. rate

Jake Carter

March 17, 2020

lockdown savings

Fitzrovia Finance has maintained a 5.5% P.A. rate amidst investors planning to switch to alternative investments as savings rates are set to drop, it outlines.

The firm believes that investors are likely to see a further reduction in savings account interest rates after the Bank of England base rate cut.

Fitzrovia Finance added that it predicts to see the stock market continue to fall, which the firm believes could result in retail investors focusing more on alternative investment opportunities such as, secured property investment platforms.

Brad Bauman, chief executive at Fitzrovia Finance, said: “Savers and investors have been badly bruised by the recent stock market falls, and now they will most likely suffer banks and building societies reducing interest rates on their savings accounts.

“We expect this to cause a significant increase in people moving money from these accounts to property investment platforms – for better returns, or to reduce exposure to a falling stock market.

“Those looking to invest in this sector need to be aware that they are not a direct replacement for cash savings accounts.

Although the investments on our platform are secured on real estate, as your money is at risk and not protected by the FSCS.

“Many investment opportunities are available on property platforms, but they come with different levels of risk that should be closely compared. Investors who are unsure of what to do should speak to a professional financial adviser.”

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