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Product launches of the week

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The Premier Group launches socially responsible investment fund; Sainsbury's Bank unveils two new credit cards; Strawberry Invest adds research tool.


The Premier Group has launched a Socially Responsible Investment fund, which will give retail investors access to socially responsible investments from a minimum of £1,000.

The fund is structured as a fund of alternative investment funds, holding assets in companies dealing in clean energy, resource recover & recycling, sustainable food production and clean water provision.


Metro Bank has reduced the rates on its five year fixed rate mortgages. Customers seeking mortgages under £1.5m can expect to pay between 3.09 per cent for 60 per cent loan to value (LTV) and 3.99 per cent for 85 per cent LTV.

Equity Release

Aviva‘s equity release lifetime mortgages have been enhanced to reflect the evolving market. The new mortgage provides loans of £15,000 exempt from early repayment charges within three years of one of the customers passing away or a voluntary partial repayment feature, which enables new customers to make repayments once they’ve held the lifetime mortgage for a year. Customers can repay 10 per cent of the initial amount they borrowed in four instalments every anniversary year.

Pure Retirement has launched the Pure Lump Sum Plan, its second product since entering the sector three months ago. Available to retirees over 60, the new product’s loan-to-value ratios begin at 24.5 per cent and can rise to 52 per cent at age 85. Interest rates are fixed for the duration of the plan and loans are available between £10,000 and £250,000 in Wales and up to £600,000 in England.


Sainsbury’s Bank has launched two new credit cards. Their Sainsbury’s Nectar Balance Transfer Credit Card offers 29 months interest free on balance transfers and a balance transfer fee of 2.89 per cent.

The Sainsbury’s Nectar Low BT Fee Credit Card offers a balance transfer fee of 0.5 per cent and 12 months interest free on balance transfers and new purchases. Both cards offer double nectar points on Sainsbury’s shopping and one point for every £5 elsewhere.


Legal & General has launched an Income Protection Benefit (IPB) product which includes an income guarantee ensuring that state benefits won’t be deducted from the monthly payments. Income guarantee will be introduced for the lesser of £1,500 or the monthly benefit amount specified in the policy schedule.

Friends Life has enhanced its Protect + Critical Illness Cover, including changes to how it covers heart attacks, multiple sclerosis, benign brain tumours and child cover benefits.


Strawberry Invest has launched The Strawberry Research Centre, an online tool that allows consumers to test out investments before they buy in. They can chart performance, compare funds and see how different combinations of investments work together. A speedy ‘checkout’ function enables investors to easily buy the funds they have tested.

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