Skipton Building Society has launched a new investment option.

Featuring a rate of seven per cent - which the society describes as excellent - the investment bond is based on the FTSE 100 and the Halifax House Price Index.

The Guaranteed Triple Asset Bond investment option is made up of three separate bonds; a one-year fixed-rate bond and two five-and-a-half year linked bonds.

With a minimum investment of £1,000, contributions to the one-year bond must be made by transfer or cheque, up to a maximum of £250,000.

This section accounts for one-third of the investment option, with long-term bonds constituting the other portion.

John Goodfellow, chief executive of Skipton Building Society, commented: The beauty of this product is a chance to guarantee a high return of seven per cent on a third of your investment, regardless of how the markets perform, whilst gaining from any increases in the FTSE or HPI [Halifax House Price Index].

Skipton offers a number of savings and investment opportunities, including child trust funds and individual savings accounts .