nigel woollsey

Nigel Woollsey

Online Writer
Published: 19/09/2019

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.

Savings

United Trust Bank – UTB 3 Year Bond

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said “This week, United Trust Bank has reduced the rate on its three-year fixed rate bond by 0.05%, but despite the cut, the deal retains a competitive position in its sector. Savers who are willing to lock their cash into a fixed bond for a decent return will find this offer appealing. This account earns an Excellent Moneyfacts product rating.”

Key product details:
• Rate: 2.05% gross/2.05% AER, payable on its anniversary
• Notice / term: Fixed for three years
• Minimum opening amount: £5,000
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Not permitted
• Opening account: Online and by post
• Managing account: By phone and by post
• Other information: Minimum applicant age 18

Mortgages

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

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said “NatWest has cut the rate on its two-year fixed mortgage this week by 0.14%, improving its overall appeal. Now priced at 1.25%, the deal becomes the lowest rate in its sector and offers a £250 cashback incentive, as well as charging a reasonable product fee of £995. Borrowers looking to secure a low rate with a well-known brand may well find this deal appealing. As a result, the deal earns a Moneyfacts product rating of Outstanding.”

Key product details:
• Rate: 1.25% fixed to 31.1.22
• Product fee: £995, all of which can be added to the mortgage advance
• Maximum loan-to-value: 75%
• Available to: House purchase customers
• Incentives: £250 cashback
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland


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

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said “This week, Barclays Mortgage has made a slight rate cut of 0.05% on its five-year fixed mortgage. Now priced at 1.63%, the deal becomes one of the lowest rates in its sector that charges a reasonable fee, along with offering an incentive package. Borrowers looking to secure a low rate over the longer-term and save on the upfront cost will find this deal enticing, as all applicants get a free valuation and remortgage customers get free legal fees. As a result, the deal earns a Moneyfacts product rating of Outstanding.”

Key product details:
• Rate: 1.63% fixed to 31.10.24
• 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
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland

 

Yorkshire Building Society – 10-year fixed rate mortgage, 85% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said “Yorkshire Building Society has this week reduced its 10-year fixed rate mortgage by 0.09%. This decade-long fixed deal becomes the lowest priced in its sector at 2.49% and may entice borrowers looking to secure their monthly repayments for the longer-term. The deal also includes a cost-saving incentive pack of free valuation and charges a product fee of £495. As a result, the deal earns a Moneyfacts product rating of Outstanding.”

Key product details:
• Rate: 2.49% fixed to 31.12.29
• Product fee: £495, all of which can be added to the mortgage advance
• Maximum loan-to-value: 85%
• Available to: All borrower types
• Incentives: free valuation for all
• Flexible features: Allows overpayments, underpayments and payment holidays
• Lending area: Great Britain and Northern Ireland

Loans

Admiral – Personal Loan

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said “Admiral has reduced the rate (by 0.2%) on its unsecured personal loan tier of £5,000 to £7,499 over a one to five-year term. This loan improves its position within its sector and may well appeal to borrowers looking for a loan either to make home improvements or consolidate debts. As a result, the loan earns a Moneyfacts Outstanding product rating.”

Key product details:
• Representative APR: 3.4%
• Loan period: Rate shown is based on a term of 60 months
• Application available: Online or by phone
• Other information: Available to new and existing customers, minimum age 18, minimum income £10,000 per annum

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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