Product launches of the week
Skipton Building Society has bolstered its young people’s savings range with a new Children’s Bond offering a rate of 3.00%, fixed for five years.
The new account can be opened at any of the Society’s branches, subject to a minimum deposit of £100 and a maximum of £10,000.
NatWest has launched a new student account, providing customers with a free flexible tiered overdraft of up to £2,000. It also offers every student a free tastecard membership.
first direct has increased its current joining incentive for all new 1st Account customers from £100 to £125 from 12 August to 20 October inclusive.
The offer is available to all new customers who switch their banking, no matter how they apply.
Halifax has cut the rate of its headline Help to Buy equity loan product and lowered rates on mortgages across its range.
The lender will offer the two-year fix at 3.34% with no fee, a reduction of 25bps on its previous rate of 3.59%. It has also lowered rates on three of its first-time buyer products and will now offer an 85% LTV two-year fix at 3.44% with £999 fee or fee-free at 3.84%.
Shawbrook Bank has entered the mainstream buy-to-let market by offering two products through selected broker partners. The two residential buy-to-let products are available up to a maximum loan-to-value of 75% and are available as two or three-year interest-only mortgages. The first product ‘BTL 1′ covers loans from £75,000 to £250,000 while ‘BTL 2′ covers those ranging from £251,000 to £500,000.
Reliance Mutual Insurance Society has entered the ‘over 50s’ life assurance market with an online direct-to-consumer life policy. The plan provides a guaranteed cash lump sum when you die two or more years after starting the cover, or a full refund of premiums paid if you die within the two years.