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Product launches of the week

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Written by:
14/11/2014
New credit card deals and special offers abound this week as financial service providers gear up for the Christmas shopping season.

Cards

Lloyds Bank has launched a credit card with an interest rate of just 6.4 per cent. Balance transfers are also fee-free for the first 90 days.

MBNA‘s new Platinum card offers 2.69 per cent on all balance and money transfers made in the first 60 days. The card has a representative interest rate of 18.9 per cent.

The Co-operative Bank has launched a three-year fixed rate credit card with a rate of 6.9 per cent on all purchases and balance transfers. No annual or balance transfer fees apply.

Savings and current accounts

The new Saga Internet Saver account offers a variable interest rate of 1.55 per cent from £1,000.

Paragon Bank has launched two new savings accounts. Their Fixed Rate Savings Account offers 2.5 per cent interest for three years, while their 120 day Notice Account pays 1.6 per cent interest.

Mortgages

Castle Trust has launched the Flexible Zero Mortgage. The new product, which will be primarily targeted at buy-to-let investors and other high net worth clients, does not require monthly payments of the principal sum borrowed or interest.

Mortgage Trust will now offer customers with an 80 per cent loan-to-value (LTV) two-year fixed rate mortgages at 3.99 per cent and 4.5 per cent. Two-year trackers will be available at 4.20 per cent at 75 per cent LTV and 3.65 per cent at 80 per cent LTV. The limited quota range also includes a fee of £499.

Leeds Building Society has launched new five-year fixed rate mortgages at 65 per cent, 75 per cent and 85 per cent LTV. From today the Society offers a 65 per cent LTV mortgage at 2.59 per cent, a 75 per cent LTV at 2.84 per cent and an 80 per cent LTV at 2.94 per cent. 

Loans

Provident has launched glo, a new guarantor loan product. To qualify for a glo loan, the borrower asks a third party to act as a guarantor, allowing them access to loans of between £1,000 and £7,000 at representative 49.5 per cent APR (fixed), repayable over periods of 1 to 5 years.

Investments

Providence Bonds plc, the UK arm of global financial services provider Providence, has launched its first mini-bond. The mini-bond pays 8.25 per cent per annum for four years.

UBS Global Asset Management has launched a US equity tracker with an ongoing charge figure (OCF) of 9bps to compete with established product providers.

Offers

American Express Cardmembers can earn a £50 statement credit if they connect their card to TripAdvisor and then book their holiday of choice (£150 or more) through American Express Travel.

TopCashback has launched their Christmas hub, where consumers can win prizes worth over £1,000. The hub runs until 28 December.

M&S is offering their credit card customers the chance to win back the cost of Christmas. Customers are automatically entered into a prize draw every time they make a purchase with their card between now and 31 December.

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