The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Investec Bank plc – Online Flexi Saver
Investec Bank plc has re-launched its Online Flexi Saver, an easy access account, back onto the market this week. Paying a rate of 0.40%, the deal takes a place in our top rate tables when compared against other easy access accounts. Savers looking for some flexibility when it comes to their savings may then find this an attractive option due to its straightforward structure, unlike some of its peers that have restrictions on withdrawals. The account secures an Excellent Moneyfacts product rating.
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Ford Money – Fixed Saver 2 Year
Ford Money has removed its existing customer restriction and reduced rates on a selection of its Fixed Savers by up to 0.15% this week, but the two-year option remains competitive. Now paying 0.70%, the Fixed Saver 2 Year takes a spot in our top rate tables and may appeal to savers who are comfortable to tie their money up for the duration of the deal as earlier access is not permitted. However, unlike its peers, the bond has a smaller minimum investment of £500 and will allow further additions within the first 14 days of opening the account. The account secures an Excellent Moneyfacts product rating.
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West Brom Building Society – Two-year fixed rate mortgage, 85% loan-to-value
First-time buyers and second-time buyers searching for a mortgage with a 15% deposit or equity may be delighted to see new deals launched by West Brom Building Society this week. The two-year fixed rate at 85% loan-to-value is priced at 2.84% now carries a £250 cashback incentive to complement its free valuation incentive. Those prospective borrowers who are hoping to save on the upfront cost of their mortgage may then find this package attractive, plus, it does not charge a product fee. These changes have improved the deal overall and it earns an Outstanding Moneyfacts product rating in the process.
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Leeds Building Society – Three-year fixed rate mortgage, 75% loan-to-value
Leeds Building Society has launched some new fixed deals this week as well as re-pricing others in its range, which includes its three-year fixed rate deal at 75% loan-to-value. Following a reduction of 0.05% this is now priced at 1.60% to 31.5.24 and continues to offer borrowers an incentive package as well as a reasonable £999 fee which can be added to the advance of the mortgage. This rate cut only enhances the appeal of this package further and secures it an Outstanding Moneyfacts product rating.
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Skipton Building Society – Five-year fixed rate mortgage, 60% loan-to-value
Skipton Building Society has made selected rate cuts to its range this week of up to 0.10%, including a cut to its five-year fixed rate deal at 60% loan-to-value. Now priced at 1.89% to 31.5.26, the deal carries an attractive incentive package of free valuation and for those looking to remortgage, free legal fees. While it may not have the lowest rate on the market, unlike its rivals it charges a more reasonable £995 fee which can be added to the mortgage advance. Overall, this product may appeal for borrowers looking for a competitive package and earns an Excellent Moneyfacts product rating in the process.
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Hitachi Personal Finance – Personal Loan
This week Hitachi Personal Finance has reduced the rate charged on its Personal Loan for those borrowing between £7,500 and £25,000 by 0.3%, to 3.2% APR. Since adjusting its tier advances, the lower interest rate has boosted its appeal to consumers who may be looking to borrow at this tier, but it is worth noting that lower rates can be found elsewhere for this borrowing amount. The product earns an Excellent Moneyfacts product rating in the process.
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