The House Crowd boosts investor interest rate offer

Peer-to-peer lending platform The House Crowd has increased the interest rate offered on its  30 Day access account to a targeted 4.5 per cent.

Its THC Fusion Account new rate applies for the first six months if funds remain invested for six months from date of investment. Rate changes to 4 per cent thereafter

The Manchester-based firm, founded in 2012, says the move is in reaction to Britain’s traditional savings providers, including Lloyds Bank and National Savings and Investments (NS&I), are cutting their interest rates.

Frazer Fearnhead, founder and CEO, of the House Crowd, said: “We’re proud to be able to do the opposite of the traditional banks by increasing the rate on our fast access account for new investors. We’re doing all we can to get British people investing – it’s time other providers did, too”,