nigel woollsey

Nigel Woollsey

Online Writer
Published: 27/06/2019

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

AA – Easy Saver – Issue 10

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Savers with £100 or more to invest searching for an instant access account will be delighted with the latest rate rise from AA. Its Easy Saver has benefitted from a 0.04% rate rise to stand at 1.47% this week and, as a result, it places in a more prominent position in the market. As this account includes a 1.27% bonus for 12 months, savers would be wise to review the account a few weeks before it expires, as the rate will drop to 0.20%. The deal earns an Excellent Moneyfacts product rating in the process. An AA Member Saver is also available, which offers a slightly higher rate of 1.48%.”

Key product details:

  • Rate: 1.47% gross/1.47% 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 and by phone
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18, rate includes an introductory bonus of 1.27% for 12 months

 

SmartSave – One-year fixed rate saver

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Making its mark on the UK savings market this week is SmartSave, with its one-year fixed bond. The deal offers a highly competitive rate of 2.01%, placing it towards the top of its sector. This straightforward bond may well attract savers who have a minimum of £10,000 to invest, but only want to lock it down for a year. As a result, this deal earns an Excellent Moneyfacts product rating.” 

Key product details:

  • Rate: 2.01% gross/2.01% AER, payable on its anniversary
  • Notice / Term: Fixed to 24.6.20
  • Minimum opening amount: £10,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Permitted within 14 days of account opening
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18

Mortgages

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

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“This week Yorkshire Building Society has launched a new 10-year fixed mortgage for borrowers with a 15% deposit. Not only does the package charge a competitive rate of 2.58%, but it also carries a small product fee and includes the incentive of free valuation. Those looking to save on the upfront cost of their deal and secure a competitive rate over a decade will find this mortgage highly appealing. It earns a Moneyfacts product rating of Outstanding in the process too.” 

Key product details:

  • Rate: 2.58% fixed to 30.9.29
  • Product fee: £495, can be added to 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

Marsden Building Society – Two-year fixed mortgage, 95% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Borrowers will be intrigued by this new deal on offer from Marsden Building Society. This two-year fixed mortgage is reasonably priced in its sector at 2.89% and is available to borrowers with a 5% deposit. Those looking to save on the upfront cost of their mortgage will find its incentive package attractive too, as it offers a free valuation for all and free legal fees for remortgage customers. The lack of product fee further enhances the deal’s overall appeal and it earns a Moneyfacts Outstanding product rating as a result.”

Key product details:

  • Rate: 2.89% fixed to 30.9.21
  • Product fee: None
  • Maximum loan-to-value: 95%
  • Available to: All borrower types
  • Incentives: Free valuation for all, free legal fees for remortgage customers
  • Flexible features: Allows overpayments
  • Lending area: Wales and England 
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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