When you have short-term cash flow requirements, it may not be appropriate to encash long-term investments that are held in tax-efficient structures.
The Money Management Account is designed to provide you with an effective solution to this problem, through a short-term loan provided by Metro Bank, secured against your eligible St. James’s Place investments. The Money Management Account is structured as a secured overdraft facility and provides the functionality of a normal current account, enabling you to spend the funds by normal banking means, including debit card, cheque book and via internet or telephone banking.
The Money Management Account can help protect your investment strategy when you have a short-term borrowing requirement and are expecting funding from other sources to become available in the near future as a means of repayment.
If the value of the investment falls in relation to the agreed loan facility, the loan may need to be repaid in full. Metro Bank will take a charge over your investments and you will be unable to make any withdrawals from your charged investments without prior approval from Metro bank. Maximum 2 year term. Rates and charges will apply, please get in touch for more details.
For more information please request a guide here.