Moneyfacts Weekly Product News - 20/04/17 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 20/04/17

Moneyfacts Weekly Product News - 20/04/17

Category: Articles
Date: 20/04/2017

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

Virgin Money

Virgin Money reissued its five-year fixed rate cash ISA, which pays 1.65% yearly or 1.64% monthly. Savers can invest from as little as £1. Additions are permitted within 30 days of account opening, while early access is allowed subject to a 180 days' loss of interest penalty. Transfers in from cash and stocks & shares ISAs are also permitted. This deal is for savers aged 16 and over and must be operated online.

Savers looking for a long-term home for their savings will be delighted by this latest update from Virgin Money. Paying 1.65%, this deal reaffirms its place in the Moneyfacts.co.uk Best Buys. With the extra flexibility of early access to funds, albeit with a penalty, this is a great choice for savers looking to maximise their interest with a recognised brand.


Leeds Building Society

Leeds Building Society has launched a brand-new Limited Issue Online Access Account which pays 1.05% on maturity until 31.5.18. Savers can invest from £1,000 up to a maximum of £250,000. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 18 and over and must be operated online.

This latest deal from Leeds Building Society is likely to excite savers looking for quick access to their cash as well as a competitive interest rate. At 1.05%, the deal sits comfortably towards the top of the Moneyfacts Best Buys for easy access accounts, but as its name suggests, savers may need to act fast to grab this deal.


Mortgages

Principality Building Society

Principality Building Society has reduced rates across its mortgage range; now, its two-year fixed rate mortgage is priced at 1.75% to 30.4.19. This deal is for all applicants who wish to borrow from £5,000 to £350,000 at 80% loan-to-value. No product fee is payable and an incentive package of free valuation for all borrowers and free legal fees for remortgage customers is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers searching for a decent rate on their mortgage will be delighted by this latest deal from Principality Building Society. Its rate of 1.75% is competitive over a two-year fixed term, it has no product fee, and it comes with a decent incentive package including a free valuation for all borrowers and free legal fees for those looking to remortgage.

Principality Building Society's lending area does not include Scotland.

Leeds Building Society

Leeds Building Society has repriced its mortgage range, including its two-year fixed rate mortgage, which is now priced at 2.05% to 30.6.19. This deal is for house purchase and remortgage customers who wish to borrow from £5,000 and £25,001 respectively, up to a maximum of £500,000, at 65% loan-to-value. A fee of £199 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation and £750 cashback is available and remortgage customers can get help towards costs. This deal allows overpayments of up to 10% of the outstanding balance.

This new two-year fixed rate mortgage from Leeds Building Society is competitively priced in the market at 2.05% and carries a low product fee of £199, which further enhances the deal's appeal. In addition, the incentive package of free valuation and £750 cashback will be enticing to those looking to save some cash up front.

Leeds Building Society's lending area includes Scotland.

Credit Cards

Lloyds Bank

Lloyds Bank has improved the interest-free introductory purchase term on its Choice Rewards Amex/MasterCard. This deal now offers 29 months of interest-free purchases, and comes with a 29-month interest-free term for balance transfers, for which an introductory balance transfer fee of 3.00% is payable. Purchases will be charged at 23.7% APR (18.94% pa) after the deal expires. There is a £24 annual fee payable, but Club Lloyds current account customers will be refunded £12. The card includes a Choice Points/Avios loyalty scheme whereby shoppers can earn points each time they spend. To be eligible for this deal, customers must be 18 or over and can apply by telephone, online or in branch.

Shoppers looking for a decent interest-free offer on purchases or balance transfers will find this latest deal from Lloyds Bank highly attractive. The card carries a £24 yearly fee, but this covers the loyalty scheme whereby customers can earn Choice points each time they spend on the card. The option of having both an Amex and MasterCard will also appeal to those who don't want a limited payment network.

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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