The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfacts.co.uk.
This week, our resident Finance Expert, Eleanor Williams, has analysed the following deals, along with their perks, of note:
The Melton Building Society – Online Fixed Rate Savings
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“In its latest update, The Melton Building Society has increased the rate payable on its two-year fixed rate account by a significant 0.40% to now pay 1.40% gross monthly. As a result, this account assumes the top position when compared against other bonds with similar terms currently available. Investors who wish to enhance their monthly income may be enticed by the attractive return this offers, however, as is common in the fixed rate market, neither early access nor further additions are available, so careful planning at the outset is a must. Overall, the account earns an Excellent Moneyfacts product rating.
Key product details:
Secure Trust Bank – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Receiving an increase of 0.05% this week, the Secure Trust Bank one-year fixed rate cash ISA improves on its position in the top rate tables when compared to other ISAs with similar terms currently on offer. Now paying 0.91% yearly, those savers who are looking to take advantage of their tax-free ISA allowance may be pleased to note that with this account they can do so from a minimum investment amount of £1,000. Further additions are permitted within 30 days of account opening with a minimum addition of £1,000, and, subject to a loss of interest penalty, early access is available on closure of the account, which may be appealing to some investors, particularly in these uncertain times. Overall, the account earns an Excellent Moneyfacts product rating.
Key product details:
Nationwide Building Society – Two-year fixed rate mortgage, 90% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week has seen Nationwide Building Society make various rate increases across selected deals in its range, which has included a rate increase of 0.25% being applied to the two-year fixed rate deal at 90% loan-to-value for first-time buyers. Now priced at 3.74% for two years, the deal carries no fee and also offers a generous incentive package of a free valuation and £500 cashback, which may be attractive to those looking to keep any set-up costs to a minimum. In this sector of the market, despite the increase in rate, this combination of features ensures that this deal maintains a position in the top tables and earns an Outstanding 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.
The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market
The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market
UK-based banks have been closing bank accounts owned by British expats living in Europe since the start of 2021, leaving expats facing increasing costs to transfer their money into European bank accounts
UK-based banks have been closing bank accounts owned by British expats living in Europe since the start of 2021, leaving expats facing increasing costs to transfer their money into European bank accounts
The car insurance and commercial vehicle insurance companies that have been awarded a Moneyfacts Annual Star Rating 2021 have been revealed
The car insurance and commercial vehicle insurance companies that have been awarded a Moneyfacts Annual Star Rating 2021 have been revealed
The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market
The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market
UK-based banks have been closing bank accounts owned by British expats living in Europe since the start of 2021, leaving expats facing increasing costs to transfer their money into European bank accounts
UK-based banks have been closing bank accounts owned by British expats living in Europe since the start of 2021, leaving expats facing increasing costs to transfer their money into European bank accounts
The car insurance and commercial vehicle insurance companies that have been awarded a Moneyfacts Annual Star Rating 2021 have been revealed
The car insurance and commercial vehicle insurance companies that have been awarded a Moneyfacts Annual Star Rating 2021 have been revealed
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