Two Isle of Man-based offshore building society subsidiaries have weighed in with new products for savers and buy-to-let landlords.
Britannia International is offering new issues of two capital-guaranteed structured products. Optimum Growth Bond Issue 22 gives 150% participation in the growth of the FTSE 100 index over its six-year term (averaged over the final 12 months), with two potential early kick-outs if growth targets of 20% after two years (AER 9.54%) or 40% after four years (AER 8.78%) are met.
The sixth issue of the Guaranteed Capital Bond pays a fixed return of 8.01% AER over terms of either three or five years, if the FTSE 100 has grown by 10% or more over the term (averaged over the final six months).
The minimum investment is £10,000 for personal investors and £50,000 for corporate, trust or pension business, and there is an early investment bonus of 0.4% available before 3 January 2008. The issues will close on 31 January 2008 or sooner if fully subscribed before then.
Irish Permanent International has added a Fixed Fee Term Tracker mortgage to its range of sterling term buy-to-let products. Loans are available to individuals, expatriates, foreign resident nationals, companies and trusts at a maximum loan to value of 85%, and the rate is set at 0.99% above bank base rate for the life of the loan, with a fixed arrangement fee of £1,295. Loans are available from £75,000 to £750,000.
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