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Product launches of the week

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Written by:
07/11/2014
A new energy tariff for just £960 is just one of the new products to hit the market this week.

Mortgages

Skipton has extended its buy to let mortgage range. Products include a fee-free two-year fixed rate mortgage to 60 per cent loan to value (LTV) at 3.09 per cent, a fee-free two-year fixed rate mortgage to 75 per cent LTV at 3.79 per cent and a three-year fixed rate to 70 per cent LTV at 3.59 per cent with a fee of £995.

Leeds Building Society has cut rates on its range of two and five year fixed rate mortgages at 75 per cent and 80 per cent LTV. New rates include a reduction from 3.09 per cent to 2.89 per cent on five-year 75 per cent LTV mortgages and a reduction from 2.39 per cent to 2.24 per cent up to 75 per cent LTV for two-year fixed rate mortgages.

The Co-operative Bank has launched its lowest ever two-year fixed rate mortgage. Borrowers can now choose two-year fixes starting at 1.54 per cent at 60 per cent LTV with a £999 fee. For those with smaller deposits a wide range of rates are available up to 90 per cent LTV with both £999 and £0 fee options.

Utilities

First Utility has launched a fixed-price tariff at £960. The iSave Fixed v37 fixes prices until March 2016.

Loans

TSB has reduced rates for personal loans to existing customers from 6.9 per cent APR to 4.9 per cent APR on amounts between £7,500 and £20,000. The bank has also cut rates from 7.4 per cent  to 5.4 per cent on loans between £20,001 and £25,000. The new rates are applicable for all loan terms between one and five years.

Sainsbury’s Bank has reduced the rates for its medium loan rate band, from £7,500 to £15,000, by 0.2 per cent.

Investments

Coventry Building Society has launched the Centenary Poppy Bond, the latest addition to the bank’s Poppy range. The bond pays 2.4 per cent AER until 31 December 2017 and became available yesterday. Every year since 2008 Coventry has made a donation to The Royal British Legion based on how much members have saved in their Poppy accounts.

Baring Asset Management has converted the Baring Portfolio fund into a more flexible multi asset product newly renamed the Baring Dynamic Capital Growth fund. Managed by Alison Huang, the investment objective of the fund is to achieve long-term capital growth through global investments.

Cards

MBNA and the Royal British Legion have extended their British Legion Credit Card, a credit card which allows customers to support the charity by spending on their card. The card offers new customers 18.9 per cent interest with zero per cent on balance transfers and money transfers for up to 24 months from the date of account opening. A 2.99 per cent handling fee applies.

Offers

Santander has launched a new service which enables debit and credit card customers to earn cashback on their next purchase. The new service complements the current 123 World. Santander customers need to sign up the new Retail Offers section of the online or mobile banking.

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