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Aug 2, 2006
Bradford &
Bingley has unveiled the 50/50 Property Bond, a deposit-based account that
offers customers the opportunity to place 50% of their money into a one-year
fixed term bond (paying 7.00% p.a. gross/AER). The remaining 50% is placed into
a Guaranteed Property Bond that pays 110% of the growth in the Halifax House
Price Index (HHPI) over five years.
B&B says
investments are guaranteed even if the index makes no gain or even decreases
over the five-year period. Open to new and existing customers, B&B requires
a minimum deposit of £1,000 and a maximum of £250,000. No further deposits are
allowed following account opening, which can be done online, B&B added.
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