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Moneyfacts Weekly Product News - 01/02/2018

Moneyfacts Weekly Product News - 01/02/2018

Category: Articles
Date: 01/02/2018

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 It is now over 6 months old so the content may be out of date.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.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the market.

Savings

Tesco Bank

Tesco Bank has increased the rate on its easy access ISA, which now pays 1.16% upon its anniversary, including a 0.51% bonus for 12 months. Savers can invest from as little as £1. Additions and unlimited penalty-free withdrawals are allowed. Transfers in from other cash ISA are also permitted. This deal is for savers aged 18 and over, and the account can be opened and operated by telephone and online.

Savers looking for easy-access to their tax-free savings will have their interest piqued by this latest update from Tesco Bank. Paying 1.16%, this deal heads straight into the moneyfacts.co.uk savings Best Buys. However, savers would be wise to review the rate before the bonus period expires to ensure competitive returns are maintained.

Atom Bank

Atom Bank has increased the rate on its one-year fixed rate bond, which now pays 1.95% upon its anniversary or 1.93% monthly. Savers can invest from £50 up to a maximum of £100,000. Additions are permitted within one week of the account opening, however, early access to funds is not allowed. This deal is for savers aged 18 and over, and the account can be opened and operated online or by mobile app.

Atom Bank's 1.95% one-year fixed rate bond is highly competitive and improves its position within the moneyfacts.co.uk Best Buys. With this competitive rate, this is likely to be a great choice for those looking to fix over the shorter-term.

Mortgages

HSBC

HSBC has reduced the rate on its three-year fixed rate mortgage, which is now priced at 1.59% to 31.5.21. This deal is for all applicants who wish to borrow between £10,000 and £2 million at 75% loan-to-value. A fee of £999 is payable, all of which must be paid upfront. An incentive package of no valuation fees for all borrowers and free legal fees for those remortgaging is also available. This deal allows overpayments of up to 20% of the mortgage payment every month.

The 1.59% three-year fixed rate mortgage from HSBC is highly competitive and heads straight to the moneyfacts.co.uk Best Buys, making this an attractive option for borrowers looking for a high-street lender. The added bonus of a great incentive package makes this a great, all-round package.

HSBC's lending area includes Scotland.

West Brom Building Society

West Brom Building Society has launched a new five-year fixed rate mortgage, priced at 3.99% to 31.3.23. 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 up to a maximum of £445 is available. This deal allows overpayments of up to £999 every month.

Borrowers with a small deposit will be delighted with this latest launch from West Brom Building Society. With the outstanding combination of a great rate of 3.99%, no fee and decent incentive package, this fixed-rate mortgage makes its mark on the moneyfacts.co.uk Best Buys. All these elements are likely to make this deal a popular choice for borrowers.

West Brom Building Society lending area does not include 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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