A portfolio no longer needs a single discount rate

A portfolio's discount rate can now be left blank, and blank is often the right answer.

Creating a portfolio used to mean entering a rate before you could save it, and that rate was then applied to every lease you added. For an obtainable borrowing rate that never quite worked: FRS 102 measures each lease at its own commencement date, and an obtainable rate is the reference rate plus your credit spread on that day. Leases starting in different months genuinely carry different rates.

Leave it blank and each lease carries its own, picking up the reference rate for the day it is created. Set it and leases you add begin from it, as before.

If a lease already carries a rate and you link it to a portfolio suggesting a different one, Lease102 now asks which to use instead of quietly replacing yours. Both rates are shown with where each came from.