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Credit Cards & Loans

Product launches of the week

Lucinda Beeman
Written By:
Lucinda Beeman
Posted:
Updated:
05/12/2014

Several banks revise their mortgage offerings; Fidelity cuts index tracker prices; Aviva launches new customer app.

Investments

Fidelity Worldwide has lowered the cost of its index tracker fund range. Retail investors can now access Fidelity Index tracker funds from as low as 0.07 per cent per annum.

Loans

Santander has reduced the APR on its unsecured personal loans from 4.5 per cent to 4.3 per cent. The offer is available to new and existing customers. In addition, a rate of 4.2 per cent is available through the cahoot brand, which consumers can access through cahoot.com and moneysupermarket.com.

Clydesdale Bank and Yorkshire Bank will make loans between £5,000 and £7,499 available from 5.5 per cent APR until 30 June.

Credit Cards

MBNA‘s new Everyday Credit Card, available to new customers, includes a zero per cent interest rate for up to 11 months on all card purchases and 21 months interest-free on balance transfers and money transfers.

MBNA has also launched a Platinum Credit Card, its longest ever balance transfer card, which offers new customers a zero per cent interest rate on balance transfers and money transfers for up to 31 months from the account opening date.

Insurance

LV= is launching a personal sick pay insurance product, which offers income protection for customers whose jobs are more expensive to insure, like manual workers and teachers. If someone works at least 30 hours a week they can claim up to £1,000 a month in cover with no financial checks at application or claim.

Royal London‘s Over 50’s Life Cover is available now to anyone aged between 50 and 75. Starting one year after the policy is taken out the company will pay a cash lump sum upon the death of the policyholder.

Mortgages

Post Office is to launch a new range of mortgages on 2 June through the Bank of Ireland, with offering rates starting from 1.98 per cent for a 2-year fixed mortgage and from 3.15 per cent for a 5-year fixed mortgage, both carrying a £995 fee and available to 75 per cent loan-to-value (LTV).

Barclays has overhauled its buy-to-let mortgage range, offering a two-year tracker at 3.29 per cent up to 60 per cent LTV for loans between £50,000 and £500,000 with a fee of £999. The lender has also cut rates to 2.99 per cent for its two-year fixed rate at 60 per cent LTV with a fee of £1,999 for loan sizes between £50,000 to £500,000.

The residential mortgage range at Barlcays has seen the introduction of a five-year fixed rate at 3.49 per cent up to 75 per cent LTV with a £999 fee. Its two-year fixed rate has been cut to 3.99 per cent for loans up to 90 per cent LTV with a fee of £999.

Meanwhile, Santander has increased rates on three of its Help to Buy mortgages and introduced a five-year fixed buy-to-let product at 70 per cent LTV with a 4.14 per cent rate and £1,495 booking fee.

Leeds Building Society has also made changes to its buy-to-let, holiday let and shared ownership mortgages. Products include a two-year fixed rate fees assisted buy-to-let mortgage at 3.65 per cent, reduced from 3.94 per cent, and available up to 70 per cent LTV.

Apps

Aviva has launched the MyAviva app for its customers. The new application allows them to view all of their policies across life, general and private medical insurance in one place. It also features exclusive rugby content related to the Aviva Premiership Rugby Finals on 31 May. The first 40,000 customers to download the app and register their details will receive a free hot drink from Café Nero.