Product launches of the week
Lloyds Bank has launched a new credit card offering interest-free balance transfers for 33 months. In addition the card has a zero per cent interest rate on new purchases for six months.
Halifax has also launched a card with 33 months interest free on balance transfers and six months interest free on new products. A balance transfer fee of 2.8 per cent applies.
iShares has launched a Factor ETF series for investors seeking exposure to global equity markets. These ETFs are an expansion of BlackRock’s Smart Beta platform.
Equilibrium Asset Management is to launch its own AIM portfolios to help clients mitigate the cost of inheritance tax.
Post Office has expanded its mortgage range to include a 2.38 per cent fixed rate mortgage at 60 per cent loan-to-value (LTV) and a 1.93 per cent two-year fixed rate mortgage at 75 per cent LTV with a £995 fee.
Nationwide has reduced selected rates for existing Nationwide mortgage customers looking for a new deal.
Nationwide is also to apply a reducing scale approach to all fixed rate mortgages taken out from Wednesday 8 October, where customers need to redeem their loan, or overpay by more than 10 per cent of the initial balance per year, before the end of the fixed rate period.
Mortgage Trust has boosted its product range to include 12 new fixed rate products available at 75 per cent starting from 2.99 per cent.
M&S Bank has launched a personal loan rate of 3.9 per cent APR on loans between £7,000 and £15,000.
Skipton has increased rates on one and three year ISAs and one year bonds. The interest rate on our One Year Fixed Rate ISA has increased to 1.50 per cent while the rate on our One Year Fixed Rate Bonds has increased to 1.50 per cent (1.60 per cent for online applications).