Newcastle Building Society Guaranteed Property Bond launched

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Newcastle Building Society Guaranteed Property Bond launched

Wed 28th Jun 2006

A new Newcastle Building Society Guaranteed Property Bond has been launched, it has been announced today.

Over the course of the five-year term of the Newcastle Building Society Guaranteed Property Bond gives returns linked to growth in the Halifax House Price Index (HHIP).

Providing the product is maintained for the full five-year term, the original capital investment is returned, regardless of any changes in the HHIP.

Minimum investment on the Newcastle Building Society Guaranteed Property Bond is £1,000 and customers can invest up to £1 million in the new product.

Steve Urwin, head of marketing and new media 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 desire the opportunity to benefit from any growth in the housing market."

Newcastle Building Society is a mutual building society and the largest to be based in the North East of England.

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