Product News - Moneyfacts

Product News

New discounted variable mortgage 09th December 2016

Leeds BS has launched a new five-year discounted variable rate mortgage, which boasts the lowest rate for its terms, thereby comfortably earning it an outstanding rating as well as a place in the Best Buys.
The basics… This mortgage is priced at a market-leading 1.70% (3.74% disc) for five years, at 85% loan-to-value. It comes with an arrangement fee of £499.
The finer details… The deal is offered to all borrowers who have the necessary deposit. It includes an incentive package of free valuation fees (up to £999) for all and help towards costs for remortgagors, and comes with the option to make overpayments by lump sum.

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Excellent new 3-year fixed bond 08th December 2016

Hanley Economic BS has launched a new three-year fixed savings bond, which is a very welcome addition to the market. This deal has shot to the top of the chart for its sector, earning it a high Moneyfacts rating in the process.
The basics… The Fixed Rate Bond Issue 124 boasts a market-leading rate of 1.65% yearly to 10.12.19.
The finer details… This account requires a minimum investment of £1,000, up to £50,000. Additions are allowed while the issue remains open, but withdrawals and early access are not, so savers must ensure they are not going to require their savings for the duration of the term. The savings account has to be opened in branch and can then be managed by post as well, and comes with the opening restriction that at least 50% of the savings must be money that is new to the society.

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Principality improves 2-yr BTL mortgage 08th December 2016

Principality BS has reduced the rate on its two-year fixed buy-to-let (BTL) deal by 0.10%, earning it a high Moneyfacts rating and a competitive place in the Best Buy chart for its sector.
The basics… This mortgage now boasts a rate of 2.30%, fixed to 28.02.19. It's available at 60% loan-to-value (LTV) and does not have a fee.
The finer details… The deal is offered to landlords in England and Wales who are looking to buy another property or remortgage, provided they have the necessary deposit. It comes with an incentive of free valuation for all borrowers, and for remortgagors free legal fees, thereby helping to reduce upfront costs.

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New fixed savings deals take top-10 position 07th December 2016

Paragon Bank has launched a new three-year fixed rate bond and a new five-year fixed ISA to complement its existing range, both of which sit in the top ten of their respective sectors, earning a high Moneyfacts rating in the process.
The basics… The Paragon Bank fixed rate bond pays a competitive rate of 1.60% per year, fixed for three years. A monthly option paying 1.59% is also available. The five-year fixed ISA pays the same return. Both deals currently sit within the Moneyfacts Best Buys.
The finer details… The fixed rate bond requires a minimum investment of £1,000 while the ISA requires a minimum investment of £500. On the three-year bond, further additions are allowed for up to five days after account opening, but no earlier access is allowed. On the five-year ISA, further additions are allowed for up to 15 days after account opening, and transfers in from other ISAs are also permitted. Access to funds will incur a 270-day loss of interest penalty, the same penalty as applies to transfers away. Therefore, savers should ideally make sure they will not need to access their savings for the full term of these online-only deals to ensure they can take full advantage.

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Virgin Money launches new 0% purchase card 02nd December 2016

Virgin Money has launched a new purchase credit card with an introductory purchase term of 27 months, just behind the market-leader. This has allowed the new card to gain a high position in the Best Buys, as well as earning it the highest Moneyfacts rating.
The basics… The Virgin 27 Month Purchase Credit Card MasterCard boasts not only an introductory 0% purchase term of 27 months, but also an introductory balance and money transfer term of 20 months, offering borrowers the full interest-free package. It comes with an introductory balance transfer fee of 2.99% and an introductory money transfer fee of 4%.
The finer details… Balance transfers must be completed within 60 days of issue to benefit from the introductory offer. After the introductory periods have ended, standard purchases will be charged at 19.9% APR, while balance and money transfers will have an annual rate of 19.9% with a 5% fee.
The card can be requested online or over the phone, after which it can also be managed by post. Borrowers must be at least 18 years old, and should remember that rates are representative and dependent on credit ratings.

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Hitachi loan tier reduced by 0.5% 01st December 2016

Hitachi Personal Finance has decreased the APR on its £5,000 to £7,499.99 personal loan tier by an impressive 0.5%, making it the market-leader for its terms and earning it the highest Moneyfacts rating in the process.
The basics… A personal loan of £5,000 to £7,499.99 over a term of two to five years now has an APR of 3.7%, the lowest rate for this tier.
The finer details… Example monthly repayments: £5,000 over three years = £146.82.
Applications can be made online or over the phone. Borrowers must be at least 21 years old to apply, and should remember that rates are representative and dependent on their credit rating.

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New 5-year ISA soars to the top 01st December 2016

Virgin Money has launched new five-year fixed bonds and ISAs to complement its existing range, which has seen the ISA shoot straight to the top of the Best Buy chart for its sector, earning it a high Moneyfacts rating in the process.
The basics… The five-year Virgin Fixed Rate Cash E-ISA Issue 206 pays a market-leading rate of 1.51% per year, fixed to 24.12.21. A monthly option paying 1.50% is also available.
The finer details… The ISA requires a minimum investment of just £1. Further additions are allowed for up to 30 days after account opening, and transfers in from other ISAs are also permitted. Withdrawals are allowed as well, albeit subject to 180 days' loss of interest, the same penalty as applies to transfers away. Therefore, savers should ideally make sure they will not miss their savings for the full term of this online-only deal to ensure they can take full advantage.

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Principality improves 5yr BTL mortgage 01st December 2016

Principality BS has reduced the rate on its five-year fixed buy-to-let (BTL) deal and removed its fee, earning it a high Moneyfacts rating and making it increasingly competitive.
The basics… This mortgage now boasts a rate of 2.80%, fixed to 28.02.22. It's available at 60% loan-to-value (LTV) and is completely fee-free.
The finer details… The deal is offered to landlords in England and Wales who are looking to buy another property or remortgage, provided they have the necessary deposit. It comes with an incentive of free valuation for all borrowers, and for remortgagors free legal fees, thereby helping to reduce upfront costs.

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Halifax launches low rate credit card 30th November 2016

Halifax has launched a new low rate credit card, whose features have been deemed attractive enough to earn it a place in the Best Buys and give it the highest Moneyfacts rating.

The basics… The Halifax Flexicard MasterCard boasts a standard purchase rate of 6.4% APR, while balance transfers have an annual rate of 6.45% with a 3% fee that is payable after the first three months of account opening.

The finer details… This credit card may not come with any introductory offers, but it does offer monthly instalment plans to help customers organise their repayments.

Borrowers must be at least 18 years old, can apply online and then manage the card in branch, over the phone and via smartphone app as well, and should remember that rates are representative and dependent on credit ratings.

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Hampshire Trust increases 1yr bond rate 30th November 2016

Hampshire Trust Bank has bucked the unwelcome rate-cutting trend by increasing the rate on its fixed one-year savings bond by 0.30%. This has made it competitive enough to earn it a place in the chart for its sector and a high Moneyfacts rating.

The basics… The HTB 1 Year Bond Issue 8 now boasts a rate of 1.40% paid on maturity.

The finer details… This account requires a minimum investment of £1,000. Additions, withdrawals and early access are not allowed, so savers must be certain they are happy with the amount they initially deposit, and make sure they do not put in more than they can spare for a whole year. The savings account can be opened and managed online and by post.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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