The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Tipton & Coseley Building Society – Fixed Rate Regular Saver until 31.12.21 (App)
Tipton & Coseley Building Society has launched a new fixed regular saver, which pays a rate of 1.35% yearly, 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 £10 and maximum of £500, this could suit those who are hoping to kickstart a savings habit with a proportion of their monthly income. Investors should note that earlier access is not permitted on this account, therefore careful planning is advised. The account secures an Excellent Moneyfacts product rating.
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West Brom Building Society – WeBSave Bonus Saver (Issue 5)
Savers looking to maintain flexible access to their savings pot may be pleased to note that West Brom Building Society has launched a new easy access account this week. WeBSave Bonus Saver (Issue 5) allows instant access and also further additions, and it can be both opened and managed online. Paying 0.75% (0.15% of which is a bonus which expires 28.2.22), the account earns a place in the top rate tables when compared to other easy access accounts currently on offer, although savers are advised to schedule a review for when the bonus expires and the rate reduces. Overall, this deal earns an Excellent Moneyfacts product rating.
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Vernon Building Society – Fixed Rate Cash ISA to 31st March 2022
This week, Vernon Building Society has launched Fixed Rate Cash ISA to 31st March 2022. Paying 0.75% yearly, this ISA takes a place within the top 10 when it is compared to other fixed ISAs with similar terms currently available in the market. Earlier access is permitted is but subject to a loss of interest penalty, while further additions can be made until 30th April 2021. Those who are looking to utilise their tax-free ISA allowance and able to meet the minimum investment amount of £10,000 may be tempted by the return. On balance, the account earns an Excellent Moneyfacts product rating.
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Accord Mortgages– Two-year fixed rate mortgage, 85% loan-to-value
Accord Mortgages made a number of updates to its range this week, including reducing the rate and fee on its two-year fixed rate deal for house purchases. Receiving a cut of 0.06% to sit at 3.19% to 30.4.23, this product is available to borrowers up to 85% loan-to-value. Borrowers may be enticed by the generous incentives of free valuation and £500 cashback, which remain available, and should also note that the fee charged has been reduced to a very reasonable £495. These changes improve on an already attractive proposition in the intermediary sector, and the product earns an Outstanding Moneyfacts product rating.
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Santander – Two-year fixed rate mortgage, 60% loan-to-value
Among other updates to its range, this week saw Santander reduce the rate on its two-year fixed rate deal at 60% loan-to-value. Receiving a cut of 0.31%, this deal for house purchase customers is now priced at 1.28% to 2.3.23. This option carries a reasonable fee of £999, which can be added to the advance, and borrowers can benefit from the incentive of free valuation. Therefore, this combination of features ensures it is a very attractive deal, which may be particularly appealing to those with the required 40% deposit and who are looking to keep the set-up costs associated with a new mortgage deal to a minimum. Overall, the product earns an Outstanding Moneyfacts product rating.
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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.