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Moneyfacts Weekly Product News - 09/11/2017

Moneyfacts Weekly Product News - 09/11/2017

Category: Articles
Date: 09/11/2017

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market over the past seven days. The deals are available right now, but may be subject to change.

Savings

Atom Bank

Atom Bank has increased the rate on its one-year fixed bond, which now pays 1.95% upon its anniversary. Savers can invest from £50 up to a maximum of £100,000. Additions are permitted within one week of the account opening, however, no early access is allowed. This deal is for savers aged 18 and over and can only be operated via the Atom Bank app.

Those savers searching for a short-term home for their cash will be delighted by this rate rise from Atom Bank. The one-year bond now pays a highly competitive 1.95% and sits towards the top of the moneyfacts.co.uk Best Buys as a result. Savers will be pleased to find that they can make further additions within a week of opening an account.


Nottingham Building Society

Nottingham Building Society has launched a new fixed term variable regular savings account paying 2.50% yearly. Savers can start the account with as little as £10, and can thereafter pay in from £1 up to £500 each month without fear of a missed payment penalty. Early access to funds is not permitted. This deal is for savers aged 16 and over and must be operated in branch.

This brand-new regular savings account from Nottingham Building Society is a welcome addition to the regular savings market. Paying 2.50%, it sits towards the top-end of the moneyfacts.co.uk Best Buys. Those looking to build a savings pot are likely to find this new account an attractive choice, as long as they are happy to apply and manage the account in branch.


Dudley Building Society

Dudley Building Society has launched a new five-year fixed ISA which pays 2.00% upon its anniversary. Savers can invest from £100. Earlier access is only permitted for transfers out subject to 180 days' loss of interest. Transfers in are accepted within 14 days of account opening. This deal is for savers aged 16 and over, and can be operated in branch and by post.

Savers who have yet to utilise their 2017/18 ISA allowance will find this new five-year fixed account tempting. With a rate of 2.00%, the deal sits near the top of its sector within the moneyfacts.co.uk Best Buys. Those who may need earlier access to their cash can do so, but there will be a 180-day loss of interest penalty to pay.



Mortgages

Chelsea Building Society

Chelsea Building Society has reviewed the rate on its five-year fixed rate mortgage, which is now priced at 1.81% to 28.2.23. This deal is for all applicants who wish to borrow at 65% loan-to-value. A fee of £1,695 is payable, all of which can be added to the advance of the mortgage. An incentive package of a free valuation for all, free legal fees for those remortgaging and £250 cashback for first and second-time buyers is available. This deal allows overpayments of up to 10% of the outstanding balance, underpayments and payment holidays.

This new five-year fixed deal from Chelsea Building Society charges not only a competitive rate of 1.81%, but is also loaded with incentives. First and second-time buyers will be particularly delighted by the free valuation and £250 cashback incentive, whereas those remortgaging will find the cost-saving free valuation and free legal fees useful.

Chelsea Building Society's lending area includes Scotland.

Credit Cards

Halifax

Halifax has tweaked its Online Balance Transfer Credit Card MasterCard. This deal now offers 37 months interest-free for balance transfers, whereby an introductory balance transfer fee of 2.50% is payable. An introductory three-month interest-free period for purchases is also available. Purchases after the introductory deal expires are charged at 19.9% APR. Customers must be 18 or over, and can apply online.

Despite offering one month less on interest-free balance transfers, this deal from Halifax remains highly competitive and easily retains its place in the moneyfacts.co.uk Best Buys. With one of the longest deals around, it will likely attract borrowers looking to spread the cost of their debts, but they must compare both the interest-free offer and the fee before they commit.



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.

 

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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