Moneyfacts Weekly Product News - 10/08/2017 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 10/08/2017

Moneyfacts Weekly Product News - 10/08/2017

Category: Money
Date: 10/08/2017

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

PCF Bank Limited

PCF Bank Limited has launched a new seven-year fixed rate bond, which pays 2.60% upon its anniversary. Savers must invest from £1,000 up to a maximum of £250,000. Additions are permitted within 14 days of the account opening, however early access to funds is not allowed. This deal is for savers aged 18 and over and can be operated by post and online.

This new seven-year fixed rate bond paying 2.60% from PCF Bank Limited not only enters the market as the highest fixed bond rate, but is also the only savings rate that currently matches the 2.6% CPI rate. With these great credentials, it is little surprise that this deal heads straight to the top of the moneyfacts.co.uk Best Buys. With no early access to funds, however, savers must ensure they can commit to the full term before entering into this deal.


Mansfield Building Society

Mansfield Building Society has launched a new 35-day notice account, which pays 1.25% yearly including a bonus of 0.50% for 12 months. Savers must invest from £1,000 up to £400,000. Early access to funds is permitted subject to 35 days' notice being given. This deal can only be operated by post.

Savers looking for a straightforward savings account with decent interest will find little fault with Mansfield Building Society's offer. Paying 1.25%, this deal heads straight into the moneyfacts.co.uk Best Buys. With only 35 days' notice required to access funds, this is likely to be a popular choice for many.


Mortgages

Nationwide Building Society

Nationwide Building Society has reduced the rate on its three-year fixed rate mortgage, which is now priced at 1.74%. This deal is for all applicants who wish to borrow between £25,000 and £750,000 at 85% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation for all borrowers and £500 cashback for first-time buyers and those remortgaging is available. This deal allows overpayments of up to 10% of the mortgage advance.

The 1.74% three-year fixed rate from Nationwide Building Society is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. Coupled with this great rate is a decent incentive package, which makes this a cost-effective option for many.

Nationwide Building Society's lending area includes Scotland.

Monmouthshire Building Society

Monmouthshire Building Society has launched a new three-year fixed rate mortgage, priced at 1.40%. This deal is for all applicants who wish to borrow from £30,000 at 65% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package for those remortgaging of free valuation and free legal fees is available. This deal allows overpayments of up to 10% of the mortgage advance.

This deal from Monmouthshire Building Society is likely to be a popular choice for those borrowers with a large deposit of 35%. Priced at 1.40%, this deal enters the market as the lowest in its sector and heads into the moneyfacts.co.uk Best Buys as a result.

Monmouthshire Building Society's lending are does not include Scotland.

Credit Cards

MBNA

MBNA has launched a brand-new All Round 30/30 Credit Card Visa onto the market. This deal offers 30 interest-free months for both introductory purchases and balance transfers. An introductory balance transfer fee of 2.72% is payable. Purchases after the introductory offers have expired are charged at 19.9% APR. To be eligible for this deal, customers must be 18 or over. Customers can apply by telephone and online.

Anyone looking to make a large purchase and spread the cost will be interested in this latest update from MBNA. Offering 30 months interest-free for purchases as well as balance transfers, this deal enters the moneyfacts.co.uk Best Buys. However, borrowers must aim to pay off the balance in full before the deal ends to ensure no interest is charged.

The Co-operative Bank's £125 cashback switching incentive is a great perk for anyone fed up with their current deal and considering moving bank accounts. However, customers must look at all aspects of the account to ensure this is the most suitable deal for them.

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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