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Product launches of the week

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Skipton increases bond interest rates; Partnership launches an annuity with a get-out clause; M&S brings its highly anticipated current account to market.


Skipton Building Society launched a new Fixed Rate and E-Bond range, increasing the interest rates on its three year products. The Society’s three-year Fixed Rate Bond will increase to 2.15% (from 2.00%) for people investing between £500 and £24,999. Its three-year E-Bond will increase to 2.20% (from 2.05%). All other rates on the range remain unchanged.


Legal & General Investments has launched a new corporate bond index fund. The Legal & General Short Dated Sterling Corporate Bond Index Fund tracks the Markit iBoxx Sterling Corporates 1-5 Index, which is made up of investment-grade corporate bonds with a maturity of between one and five years. The fund’s annual management charge is 0.15 per cent. It will be made available through all major intermediary platforms.


Partnership has launched a new annuity in response to the latest Budget. Intended to provide a lifetime income, the Enhanced Choice Annuity allows holders to back out after one year. Read more about the new product here.

Bank Accounts

M&S Bank‘s highly anticipated current account, which offers free ATM cash withdrawals abroad and a fee-free overdraft, has launched read more about the new entrant here


New Sainsbury’s car insurance customers will receive free Sainsbury’s Breakdown Service if they sign up before the 28th of July. In addition, Nectar card holders could save a third off their premium.


The Leeds Building Society has introduced a cash ISA with a rate of 2.85 per cent tax-free. The ISA matures on 30th of June 2019 and can be opened with an initial deposit of as little as £100.

Credit Cards

American Express is offering its customers up to 40 per cent off selected hotels around the world if they book before 5 June 2014. See which hotels are in on the deal here.


GE Money Home Lending, an intermediary lender specialising in customers with poor credit histories, is offering completion fee-free deals on selected fixed and tracker rate mortgage products. Rates start from 2.94 per cent on a two year discount and 3.49 per cent on fixed rate products. Tracker rates start from 3.29 per cent.

Advice and Wellbeing

The Money Advice Service has introduced a new free and impartial advice service in partnership with NHS Choices. The tool, available here, aims to help people suffering from stress and anxiety as a result of struggling with their finances. Users are asked a series of questions and provided with tailored information and advice.

The Money Advice Service has also launched a new tool to help parents teach their children about personal finances. The “You, Your Kids & Money” section on the website offers impartial advice and tips to parents looking to help their kids understand money.

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