Personal Finance: Loose Change

HINCKLEY AND Rugby Building Society has launched a new rate tracker mortgage which guarantees to cut rates if base rates are cut. The society guarantees that mortgage rates will not be more than 0.75 per cent above base rates, currently 5 per cent, or 1.25 per cent for loans over 80 per cent of the purchase price. An arrangement fee of pounds 250 is payable. Call 01455 894028.

NORWICH AND Peterborough Building Society and CGU, the insurer, are jointly launching Portfolio Bonus Bond. Up to 40 per cent of the bnd is invested in N&P's Portfolio Bonus Account, paying 7 per cent gross in the first year (with a 2 per cent bonus). The rest is invested in CGU's portfolio bond, a unit-linked investment plan. Access is without notice or loss of interest. New deposits may be made in the first year. Minimum investments are pounds 10,000. Call 01733 372372.

PREMIER FUND Managers is launching a split capital investment trust, Premier High Income, which aims to provide a relatively safe option of 8 per cent income over its six-year life. Dividends will be paid quarterly. Call 0800 212577 for details.