Product launches of the week
Santander UK has launched a mobile banking service aimed primarily at students. The SmartBank app provides a comprehensive summary of the user’s financial situation. It is designed to complement Santander’s existing app.
Artemis has launched three new US equity funds, two managed by Cormac Weldon and a third by Stephen Moore.
Aegon has launched a high income fund, managed by Kames Capital, targeted at pensioners in drawdown.
Architas has cut the price of its Multi-Asset Passive fund range, capping the ongoing fund management charges at 50 basis points, down from 65 basis points. In addition Architas is cutting the upfront charge on its Zero AMC share class from two per cent to one per cent.
Legal and General has launched the LGIM Retirement Income Multi-Asset Fund, managed by Martin Dietz, with the aim of providing long-term investment growth up to and during retirement.
Lloyds Bank has launched a new credit card with interest-free purchases for 19 months.
Tesco Bank has extended the fee-free, interest-free period on its credit card from 10 months to 12 months.
A new energy provider, Oink Energy, launched this week. The new company’s proposition is ‘simple energy’ for all.
Virgin Money has cut rates across its mortgage range, reducing two-year residential fixed rates by up to 0.26 per cent and five-year residential fixed rates by up to 0.20 per cent.
Virgin Money has also launched new six-year fixed rate mortgages, offering customers the same rates as five-year products.
Skipton has launched a new range of seven-year fixed rate by-to-let mortgages, reducing selected rates by up to 0.25 percent.
Santander has cut mortgage rates for existing current account holders, with rates starting at 2.15 per cent with a discounted booking fee of £495.
Leeds Building Society has cut its rates on buy-to-let mortgages by up to 0.40 per cent and introduced new five year fixed rate deals.
Coventry Building Societies have launched a buy-to-let range starting from 2.99 per cent interest at 75 per cent loan to value.