Rachel Springall

Rachel Springall

Finance Expert & Press Officer
Published: 14/11/2019

The Moneyfacts Weekly Product News is a round-up of the latest products or rate changes to hit the consumer finance market this week. The deals are available right now, but may be subject to change. Find the best product for you.

Savings

United Trust Bank – UTB 1 Year Bond

Product analysis: 

Breaking into the top rate tables this week comes the newly launched one-year fixed bond from United Trust Bank. Paying a rate of 1.76%, the deal may entice savers looking for a decent rate over the short-term who have at least £5,000 to invest. As no early access is permitted, savers must be comfortable with locking their cash away for a year. This account earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.76% gross/1.76% AER, payable on maturity
• Notice / term: Fixed for one-year
• Minimum opening amount: £5,000
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Not permitted
• Opening account: Online
• Managing account: By phone and by post
• Other information: Minimum applicant age 18

Mortgages

TSB – Three-year fixed rate mortgage, 60% loan-to-value (via selected intermediaries)

Product analysis:

TSB has cut the rate on its three-year fixed mortgage this week by 0.05%, which is available by selected intermediaries. Now priced at 1.49%, the deal is available to borrowers at 60% loan-to-value. As well as the competitive rate, the deal includes a generous package. Borrowers looking for a mortgage with a well-known high street brand through selected intermediaries may find this option appealing. It earns an Excellent Moneyfacts product rating in the process.

Key product details:
• Rate: 1.49% fixed to 28.2.23
• Product fee: £995 payable upfront
• Maximum loan-to-value: 60%
• Available to: All borrower types
• Incentives: Free valuation for all, remortgage customers get free legal fees or £300 cashback
• Flexible features: Allows overpayments and payment holidays
• Lending area: Great Britain, deal is available via selected intermediaries

 

Barclays Mortgage – Five-year fixed rate mortgage, 75% loan-to-value

Product analysis:

Making cuts to selected fixed rates this week is Barclays Mortgage, with its five-year fixed deal of note slashed by 0.05%. Now priced at 1.58%, the deal offers not only a competitive rate but also carries a decent incentive package. Those borrowers looking at different options to save not only on the upfront cost, but also to secure a low rate, may find this deal enticing, as all applicants get a free valuation and remortgage customers get free legal fees or £250 cashback. As a result, the deal earns a Moneyfacts product rating of Outstanding.

Key product details:
• Rate: 1.58% fixed to 31.1.25
• Product fee: £999, all of which can be added to the mortgage advance
• Maximum loan-to-value: 75%
• Available to: All borrower types
• Incentives: Free valuation for all, remortgage customers get free legal fees or £250 cashback
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland

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.

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