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Moneyfacts Weekly Product News - 14/06/2018

Moneyfacts Weekly Product News - 14/06/2018

Category: Annuities
Author: Lieke Braadbaart
Date: 14/06/2018

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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

Virgin Money

Virgin Money has increased the rate on its Double Take E-ISA, which now pays 1.30% yearly or 1.29% monthly. Savers can invest from as little as £1. Additions are permitted, however only two easy access withdrawals are allowed per year. Transfers in from cash and stocks & shares ISAs are also permitted. This deal is for savers aged 16 and over and must be operated online.

Savers looking to kick-start an ISA savings habit will be delighted by the latest increase to Virgin Money's Double Take E-ISA. Paying 1.30% this deal improves its position in the Moneyfacts.co.uk Best Buys. However, with only two withdrawals permitted per year, savers must access their money carefully.

OakNorth Bank

OakNorth Bank has increased the rate on its two-year fixed rate bond, which now pays 2.14% on maturity. Savers must invest from £1,000 up to a maximum of £250,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and must be operated online.

Paying 2.14% the two-year fixed rate bond from OakNorth Bank is highly competitive, improving its position in the Moneyfacts.co.uk Best Buys. However, with no early access to funds, savers need to be happy with both their initial deposit and the term.

Mortgages

Sainsbury's Bank

Sainsbury's Bank has reduced the rate on its two-year fixed rate mortgage, which is now priced at 3.39% to 30.9.20. This deal is for first and second-time buyers who wish to borrow from £40,000 at 95% loan-to-value. No fee is payable and an incentive package of free valuation and £500 cashback is available. Successful mortgage applicants will also be eligible to receive cashback, in the form of 5% off their grocery bills in vouchers, for the first two years. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit of just 5% will be delighted by this latest launch from Sainsbury's Bank. Priced at 3.39% this deal heads straight into the Moneyfacts.co.uk Best Buys for first-time buyers. Not only will borrowers be receiving a great rate, but they'll also get a decent incentive package including £500 cashback, making this a great choice for buyers looking to keep initial costs down.

Sainsbury's Bank's lending area includes Scotland.

Skipton Building Society

Skipton Building Society has reduced the rate on its three-year fixed rate mortgage, which is now priced at 2.48% to 31.8.21. This deal is for all applicants at 90% loan-to-value. No fee is payable and an incentive package of free valuation and £500 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

The 2.48% three-year fixed rate mortgage from Skipton Building Society is highly competitive and retains a place in the Moneyfacts.co.uk Best Buys. The incentive package is a great boost for any borrower with a modest deposit looking for a cost-effective option over the medium term.

Skipton Building Society's lending area includes Scotland.

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.

 

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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