The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market over the past seven days. The deals are available right now, but may be subject to change.
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“Climbing the rate table within the easy access market this week is Beehive Money, matching the top rate available for new customers at 1.50%. After a rate rise of 0.10%, its Online Saver now sits shoulder-to-shoulder with its competition, Virgin Money and Marcus by Goldman Sachs® (based on 1.50% AER). It is worth mentioning that the deal requires a minimum deposit of £2,500, but it does not carry a short-term bonus or limit the number of withdrawals. The deal earns an Excellent Moneyfacts product rating in the process.”
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Post Office Money® – Online Saver
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“Savers with as little as £1 to invest and are searching for an instant access account will be delighted with the latest change from Post Office Money®. Its Online Saver rate has benefitted from a 0.10% rate rise to stand at 1.45% this week (payable yearly) and, as a result, it now pays just 0.05% less than the market-leading alternatives. As this account includes a 1.20% bonus for 12 months, savers would be wise to review the account a few weeks before it expires, as the rate will drop to 0.25%. The deal earns an Excellent Moneyfacts product rating in the process.”
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Skipton Building Society – Two-year tracker mortgage, 75% loan-to-value
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“Borrowers with a 25% deposit searching for a low rate mortgage will find this newly priced two-year tracker deal from Skipton Building Society attractive. Priced at 1.53% variable, after a 0.25% cut, this mortgage now one of the lowest rates in its sector. Those looking to save on the upfront cost of their deal will likely be impressed by the incentive of free valuation, and for remortgage customers legal fees are free too.”
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Sainsbury’s Bank – Dual Offer Credit Card
Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“Sainsbury’s Bank has shaved one month off its Dual Offer 0% purchase and balance transfer term to 26 months this week, however, it remains one of the most competitive deals in its sector. This card will be highly attractive to shoppers and those looking to make a balance transfer, plus it rewards spenders with Nectar points. This deal earns an Outstanding Moneyfacts product rating as a result.”
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Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:
“This week, Clydesdale Bank has cut the rate (by 0.2%) on its unsecured personal loan tier of £5,000 to £7,499 over a one to three-year term, which is now one of the lowest rates in its sector. Borrowers looking for a loan either to consolidate debts or make home improvements may well be impressed by this new rate. As a result, the loan earns an Excellent 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.
