Property investment platform GetGround has launched an investment pot product to help BTL property investors and landlords maximise the growth on their rental income and cash holdings.
The platform said through the product its customers can now transfer cash in their company wallets into investment pots to start earning a “competitive” return.
Transfers in and out of these general investment accounts are free of charge and there is no maximum cap on investment and withdrawals can be triggered anytime.
GetGround co-founder and CEO, Moubin Faizullah Khan, said: “Over the years, as the volume of cash sitting in our investors’ individual business accounts has grown, so too has the length of time these funds sit in wallets doing nothing.
“We want to challenge this passive treatment of cash by creating a simple alternative that requires minimal effort.”
He added the investment pots help GetGround’s customers to make their money “work harder” when they don’t need it, and “get it back swiftly” when they do.
Currently, investment pots users will earn a 4.21 per cent annualised return but the rate of return is variable and, as with any form of investment, customers’ capital is at risk.
GetGround customers currently hold £19mn cumulatively in their business accounts and, at the current 4.21 per cent rate, if it were all transferred to investment pots, they would return around £700,000 in a year.
The GIAs form part of GetGround expanding suite of services specially tailored to create a better online experience for customers that helps them increase returns while minimising effort.
This news follows the recent announcement that GetGround is now able to serve limited company property investors and landlords regardless of whether their limited companies were originally formed by GetGround or not.
tom.dunstan@ft.com
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