New investments product reflects both FTSE 100 and house prices

Mon, 19 Mar 2007

Customers looking to start saving money via investments have been alerted to the launch of an all-new product.

The Skipton Building Society has unveiled a Guaranteed Triple Asset Bond, which equally splits investments three ways - a third in a one-year fixed-rate savings bond, a third in a 5.5-year bond linked to the FTSE 100 and a third in a 5.5-year bond linked to growth in Halifax's house price index.

It means that investors can spread risk over savings bonds, investments and house price inflation, which theoretically means they are less likely to be affected by a downturn in one section of the economy.

Moreover, initial capital put into the investments is guaranteed to be returned at the end of the agreed term.

"With the FTSE gathering strength over the long term and house prices maintaining a healthy growth, the Guaranteed Triple Asset Bond offers savers the chance to cash in on any increases," commented John Goodfellow, chief executive of Skipton Building Society.

In addition to investments products, the financial services provider offers a range of other financing deals.

These include mortgages, savings accounts, home insurance and life insurance cover.

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