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Product launches of the week

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Sainsbury's Bank lowers rates on small and medium-sized loans; Over-50s insurer Saga launches landlord insurance.


AA Loans has dropped its rate to 4.2% APR for loans between £7,500 and £15,000. Borrowers also receive one year’s free roadside assistance or, for existing members, a half-price membership upgrade.

Sainsbury’s Bank has lowered rates on its small and medium loans. The rate sale on medium sized loans will end at 3pm on Tuesday 22 July.


Saga has launched landlord insurance for those with fewer than 10 properties. Coverage will extend up to £100,000 towards the cost of eviction. Accidental damage is covered as standard and a ten per cent multiple property discount is available.


IpsoFacto has launched a service to help DIY investors build ISA and self invested personal pension (SIPP) portfolios. Their service provides suggested asset allocation and model portfolios for long-terms savers with an investment time horizon of at least five years. The service starts at £10 per month and the group is currently offering a two month free trial.


Buy-to-let lender Paragon Mortgages has refreshed its product range, updating its range of fixed rate products to include a new two year fixed rate mortgage at 4.45 per cent interest with a two per cent product fee.

Scottish Widows Bank has  reduced the rates on a on a selection of two and three year professional and flexible mortgages across its mortgage range.

Landbay has completed its first mortgage loan, the UK’s first buy-to-let mortgage funded through peer-to-peer lending. The professional landlord taking the mortgage will pay an aggregated rate of 5.12 per cent, while the lender will earn between 4.1 per cent and 9.3 per cent depending on the risk category they choose.


LV= has launched a new investment option for pension savers. Their Flexible Guarantee Funds provide customers with the potential for an investment return and are averaged price to help smooth and reduce the effects of market volatility. Savers are able to disinvest, take income and switch to different investments as circumstances change.


Sainsbury’s Bank has increased the rates on its one, two and three year fixed rate savings accounts. Accounts can be opened with between £5,000 and £50,000 and will earn rates between 1.45 per cent and 2.15 per cent gross AER.

Paragon Bank is offering an interest rate of 1.75 per cent AER on account balances of £1,000 to £100,000 for savers willing to lock in their savings for one year.

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