Newcastle Building Society Guaranteed Property Bond launched

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Newcastle Building Society Guaranteed Property Bond launched

The Newcastle Building Society Guaranteed Property Bond has been launched which has a five-year term and its performance is linked directly to growth that occurs in the Halifax House Price Index (HHPI).

With a full capital guarantee, the bond gives customers the peace of mind that they will not lose any of their investment, even in the event that the HHPI decreases.

Anyone investing in the bond before March 16th 2007 - tracking does not begin before then - will gain an early bird bonus of five per cent interest and the Newcastle Building Society Guaranteed Property Bond requires a minimum investment of £1,000 rising to a £1,000,000 maximum figure.

Steve Urwin, senior executive at Newcastle Building Society, said: "Newcastle's guaranteed property bonds have generally appealed to those who do not wish to invest directly in physical property, yet still wish to benefit from any growth in the housing market."

"Sipp [Self Invested Personal Pension] holders looking for an investment where the returns are linked to the residential property market may also find this bond a useful addition to their saving's portfolio."

The HHPI began back in 1983 and is designed to provide an effective sample of the UK housing market.

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