Moneyfacts Weekly Product News – 19.03.2020 | moneyfacts.co.uk

Eleanor Williams

Finance Expert & Press Officer
Published: 19/03/2020

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

AA - Easy Saver - Issue 14

AA has adjusted the rate on its Easy Saver this week, making a reduction of 0.20%. Despite the cut, the account holds a place within the top rate tables, paying 1.00% on its anniversary. This deal may well attract those who require quick access to their funds but savers are advised that this deal does include a bonus of 0.90% for 12 months, therefore it's important to make a note to review their account before this expires. On balance, this deal earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.00% gross/1.00% AER, payable on its anniversary
• Notice / term: No notice
• Minimum opening amount: £100
• Maximum investment amount: £2 million
• Access: Unlimited withdrawals and access permitted
• Further additions: Permitted
• Opening account: Online or by phone
• Managing account: Online and by phone
• Other information: Minimum applicant age 18, rate includes an introductory bonus of 0.90% for 12 months, withdrawals allowed via nominated account.


United Trust Bank – UTB 2 Year Bond

United Trust Bank (UTB) has launched a new fixed bond this week - the UTB 2 Year Bond which pays 1.65% on anniversary. Taking a position within the top rate tables in its sector, this deal may tempt savers who are searching for a competitive return on their cash over the mid-term. Savers must be satisfied with the length of the term and their initial deposit as earlier access and further additions are not permitted. The deal earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.65% gross/1.65% AER, payable on its anniversary
• Notice / term: Two years
• Minimum opening amount: £5,000
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Not permitted
• Opening account: Online
• Managing account: By post and by phone.
• Other information: Minimum applicant age 18.

Mortgages

Principality Building Society – Two-year fixed rate mortgage, 65% loan-to-value

Principality Building Society has reduced its rates on selected fixed rate deals, including a 65% loan-to-value two-year fixed rate mortgage, which has seen a cut of 0.10%. Now priced at 1.42%, the deal carries an attractive incentive of £500 cashback and a modest product fee of £895 which can also be added to the mortgage advance. As a result, it may well entice those looking to save on the upfront cost of their deal. This deal earns an Excellent Moneyfacts product rating.

Key product details:
• Rate: 1.42% fixed to 30.6.22
• Product fee: £895, all of which can be added to the mortgage advance
• Maximum loan-to-value: 65%
• Available to: All borrower types
• Incentives: £500 cashback
• Flexible features: Allows overpayments
• Lending area: England and Wales.


TSB – Two-year fixed rate mortgage, 75% loan-to-value

TSB has launched new fixed rate deals for remortgage customers this week. One of these is a 75% loan-to-value two-year fixed rate mortgage priced at 1.24%. Available via selected intermediaries only, this deal carries an attractive incentive package of a free valuation and either £300 cashback or free legal fees and a product fee of £1,495 which is to be paid upfront. Borrowers who have the funds available to cover the fee may well be enticed by the rate, which is currently the lowest available within this sector of the market.

Key product details:
• Rate: 1.24% fixed to 31.5.22
• Product fee: £1,495, paid upfront
• Maximum loan-to-value: 75%
• Available to: Remortgage customers
• Incentives: Free valuation and either £300 cashback or free legal fees.
• Flexible features: Allows overpayments
• Lending area: Great Britain, deal is available via intermediaries.

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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