The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market
Furness Building Society – 1 Year Regular Saver Issue 4
Furness Building Society has launched a new one-year fixed term regular saver account this week, which pays a rate of 1.00% on anniversary, seeing this account secure a position within the top rate tables when compared against other regular savings products currently in the market. With a minimum monthly deposit amount of just £1 and maximum of £250, this could suit those who are hoping to kickstart a savings habit with a small proportion of their monthly income. Investors should note that the balance would be transferred to an access account (with relevant interest paid) should a payment be missed or if more than one withdrawal is made, therefore careful planning is advised. The account secures an Excellent Moneyfacts product rating.
Key product details:
Metro Bank – Five-year fixed rate mortgage, 90% loan-to-value
This week, Metro Bank has made rate reductions across its 85% and 90% loan-to-value deals of 0.20%. The five-year fixed rate deal for those looking to borrow at 90% has dropped to 3.39% – one of the lowest rates now available in this sector of the market for those with the required 10% deposit or equity. Potential borrowers should be aware that there is a fee of £999, which needs to be paid upfront, and while there are also no further incentives on offer with this particular deal, this option still sits only marginally behind the market leader in this sector when assessed on a combination of rate and features. It therefore overall receives an Excellent Moneyfacts product rating.
Key product details:
Santander – Five-year fixed rate mortgage, 60% loan-to-value
Among various updates to its range, those looking to purchase a property and who have the required 40% deposit may be pleased to note that the five-year fixed rate at 60% loan-to-value offered by Santander has seen a rate reduction this week. Dropping by 0.07% to 1.34% to 2.5.26, this product improves on its position – which is now only marginally behind the market leader. Furthermore, those hoping to keep costs for setting up a new mortgage to a minimum should note that the fee of £999 can be added to the advance, or paid upfront, and there is also an incentive available of a free valuation. This combination of features secures this product an Excellent Moneyfacts product rating.
Key product details:
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.
This month will mark one year when the pandemic began impacting the UK economy, most notably with the Bank of England making two unexpected base rate cuts within weeks that resulted in base rate falling to a historic low of 0.1%
This month will mark one year when the pandemic began impacting the UK economy, most notably with the Bank of England making two unexpected base rate cuts within weeks that resulted in base rate falling to a historic low of 0.1%.
The £1 million prize winners of the March 2021 premium prize draw have been announced, along with thousands of other smaller prize winners
The £1 million prize winners of the March 2021 premium prize draw have been announced, along with thousands of other smaller prize winners
After seeing a rapid increase against the Euro at the beginning of the week, the pound sterling has since fallen and as the pound continues to fluctuate
After seeing a rapid increase against the Euro at the beginning of the week, the pound sterling has since fallen and as the pound continues to fluctuate
This month will mark one year when the pandemic began impacting the UK economy, most notably with the Bank of England making two unexpected base rate cuts within weeks that resulted in base rate falling to a historic low of 0.1%
This month will mark one year when the pandemic began impacting the UK economy, most notably with the Bank of England making two unexpected base rate cuts within weeks that resulted in base rate falling to a historic low of 0.1%.
The £1 million prize winners of the March 2021 premium prize draw have been announced, along with thousands of other smaller prize winners
The £1 million prize winners of the March 2021 premium prize draw have been announced, along with thousands of other smaller prize winners
After seeing a rapid increase against the Euro at the beginning of the week, the pound sterling has since fallen and as the pound continues to fluctuate
After seeing a rapid increase against the Euro at the beginning of the week, the pound sterling has since fallen and as the pound continues to fluctuate
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