Moneyfacts Weekly Product News 02 06 21 | moneyfacts.co.uk

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Eleanor Williams

Finance Expert & Press Officer
Published: 03/06/2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Mortgages

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Among the mortgage products to see a rate cut from NatWest this week is the mortgage guarantee scheme two-year fixed rate deal. Reduced by a notable 0.25%, this option is now priced at 3.65% to 31.8.23. Borrowers may wish to note that while there may not be additional incentives on offer with this product, there is also no fee to pay, which could interest those who have worked hard to build up their deposit and have little extra funds to cover associated mortgage costs. Available to those purchasing, this deal takes a position in our top rate tables and receives an Outstanding Moneyfacts product rating.” 
Key product details:
Rate: 3.65% fixed rate to 31.8.23
Product fee: None
Maximum loan-to-value: 95%
Available to: House purchase customers
Incentives: None 
Flexible features: Allows overpayments 
Lending area: Great Britain & Northern

Apply for this deal directly with Nat West. Go to Provider's Site. 

Hinckley & Rugby Building Society – Two-year fixed rate mortgage, 65% loan-to-value 
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Borrowers with the required 35% deposit or equity and who are looking for the short-term stability of a two-year fixed rate may be pleased to see that Hinckley & Rugby Building Society has launched a new deal via intermediaries this week. Priced at 1.25% for two years, the appeal of this deal is further enhanced by the low fee of just £125. Furthermore, those remortgaging can also benefit from an incentive of £250 cashback. The combination of rate and features ensure this deal gains an Excellent Moneyfacts product rating.”  
Key product details:
Rate: 1.25% fixed rate for two years
Product fee: £125
Maximum loan-to-value: 65%
Available to: All borrowers
Incentives: For those remortgaging, £250 cashback
Flexible features: Allows overpayments 
Lending area: England & Wales. Available via intermediaries only.

 

This mortgage is only available from a mortgage broker. 
Speak to our preferred mortgage broker, Mortgage Advice Bureau on 0808 149 9177 or arrange a call back.

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Among various amendments to its range, Platform has made a rate reduction of 0.09% to its two-year fixed rate deal at 60% loan-to-value. Now priced at just 0.95% to 31.8.23, this is the lowest rate available in this sector of the market. Available to all borrower types and offered via selected intermediaries, this product does carry a relatively high fee of £1,499, which borrowers have the option to either add to the advance or pay upfront. However, the low initial rate and generous incentive package comprising of a free valuation and £250 cashback for all, with free legal fees also available for those remortgaging, ensure that on assessment, this product receives an Outstanding Moneyfacts product rating.” 
Key product details:
Rate: 0.95% fixed rate to 31.8.23
Product fee: £1,499
Maximum loan-to-value: 60%
Available to: All borrower types
Incentives: Free valuation, £250 cashback, and for those remortgaging, free legal fees
Flexible features: Allows overpayments
Lending area: Great Britain. Available via Selected Intermediaries only.

This mortgage is only available from selected mortgage brokers. 
Speak to our preferred mortgage broker, Mortgage Advice Bureau on 0808 149 9177 or arrange a call back.

Buy-to-Let Mortgages

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Halifax has amended rates across its buy-to-let range this week, including making a cut of 0.13% on its deal for landlords who are remortgaging at 75% loan-to-value. This two-year fixed rate is now priced at 1.68% to 31.8.23, one of the lowest initial rates now available in this sector of the market. There is a fee of £1,495 to be paid, which can either be paid upfront or added to the advance, and is comparable to similar deals on offer. In addition, there is also an incentive package comprising of a free valuation and free legal fees, which could be tempting to those hoping to keep any mortgage set-up costs to a minimum. On balance, this deal earns an Excellent Moneyfacts product rating.”
Key product details:
Rate: 1.68% fixed rate to 31.8.23
Product fee: £1,495
Maximum loan-to-value: 75%
Available to: Remortgages only 
Incentives: Free valuation and free legal fees
Flexible features: Allows overpayments
Lending area: Great Britain & Northern Ireland (excludes Rathlin).

Skipton Building Society – Variable tracker rate mortgage, 60% loan-to-value

In its latest update, Skipton Building Society has amended the rates on many of its buy-to-let products. One deal to see a rate reduction is the variable tracker deal at 60% loan-to-value. Already an attractive proposition for landlords with the required level of deposit or equity, following the cut of 0.12%, this is now priced at 1.85% for two years. There is a reasonable fee of £995 which can be added to the advance or paid upfront, and investors could also benefit from an incentive of a free valuation, while those remortgaging may also receive free legal fees, which may be of interest to those who are hoping to keep any outlay for setting up a new buy-to-let mortgage to a minimum. Overall, the deal receives an Outstanding Moneyfacts product rating.

Key product details:

  • Rate: 1.85% variable tracker rate for two years
  • Product fee: £995
  • Maximum loan-to-value: 60%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: Free valuation and for those remortgaging, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: Great Britain.

 

This mortgage is available directly from the lender and from mortgage brokers. 
Speak to our preferred mortgage broker, Mortgage Advice Bureau on 0808 149 9177 or arrange a call back.

Credit Cards

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“In its latest update, Tesco Bank has launched a new Clubcard credit card. This card offers introductory 0% purchase and balance transfer terms of 18 months, with a reasonable 2.99% introductory balance transfer fee, which rises to 3.99% after the initial period. Additionally, this card also enables customers to earn Clubcard points when purchasing, which could be a plus for some. While not offering the longest introductory terms currently available, this card provides a good all-round option and earns an Excellent Moneyfacts product rating.”
Key product details:
Introductory rate for balance transfers: 0% for 18 months
Introductory rate for purchases: 0% for 18 months
Standard rate for purchases: 20.9% APR
Balance transfer fee: 2.99% during introductory transfer period, rising to 3.99% outside the introductory transfer period
Card fee: None
Opening method: Online or by phone 
Card management: Online, by phone, by post and via its mobile app
Other information: Minimum applicant age 18. Minimum income £5,000. 
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. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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