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Moneyfacts Weekly Product News - 02/11/2017

Moneyfacts Weekly Product News - 02/11/2017

Category: Articles
Date: 02/11/2017

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

PCF Bank

PCF Bank has increased the rate on its five-year fixed rate bond, which now pays 2.42% upon its anniversary. Savers can invest from £1,000 up to a maximum of £250,000. Additions are permitted within 14 days of the account opening however, no early access is allowed. This deal is for savers aged 18 and over and can be operated by phone, by post and online.

Savers looking for a long-term home for their savings will be delighted with this latest update from PCF Bank. With a rate of 2.42%, this deal improves its position within the moneyfacts.co.uk Best Buys. However, with no early access to funds, savers must ensure they are happy with their initial deposit.


Vanquis Bank

Vanquis Bank has increased the rate on its one-year fixed rate bond, which now pays 1.85% upon its anniversary or 1.83% monthly. Savers can 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 can be operated by phone, by post and online.

The 1.85% one-year fixed rate from Vanquis Bank is highly competitive and earns a place within the moneyfacts.co.uk Best Buys. With such a great rate this is likely to be a popular option for those who are looking for a straightforward savings account over the shorter term. However, with no access to funds during the term, savers must ensure they have enough cash left over for life's little emergencies.



Mortgages

Nationwide Building Society

Nationwide Building Society has reduced its three-year fixed rate, which is now priced at 1.69%. This deal is for all applicants who wish to borrow between £25,000 and £1 million at 80% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation for all borrowers and £500 cashback for both first-time buyers and remortgage customers is available. This deal allows overpayments up to 10% of the outstanding balance.

Borrowers looking to fix their mortgage rate with a high street brand will be intrigued by this latest reduction from Nationwide Building Society. Priced at 1.69% this deal sits comfortably within the top five lowest in its sector and heads straight into the moneyfacts.co.uk Best Buys as a result. The addition of a great incentive package, which includes £500 cashback for first-time buyers and remortgage customers, will no doubt make this a popular choice amongst borrowers.

Nationwide Building Society lending area includes Scotland.

Virgin Money

Virgin Money has reviewed the rate on its five-year fixed rate mortgage, which is now priced at 2.01% to 1.3.23. This deal is for all applicants who wish to borrow at 65% loan-to-value. A fee of £995 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation and legal fees for those remortgaging and £300 cashback for first and second-time buyers is available. This deal allows overpayments up to 10% of the outstanding balance.

The 2.01% five-year fixed rate from Virgin Money is reasonably priced in its sector. With the added bonus of a decent incentive package, this may be an attractive option for those looking to minimise any upfront costs and borrow with a recognised brand.

Virgin Money lending area includes Scotland.

Credit Cards

Halifax

Halifax has tweaked its Balance Transfer Credit Card MasterCard. This deal now offers 32 months interest-free for balance transfers, whereby an introductory balance transfer fee of 0.70% is payable. An introductory 12 months interest free offer for purchases is also available. Purchases after the introductory deal expires will be charged at 18.9% APR. Customers must be 18 and over and can apply by post and online.

Halifax's 32-month Balance Transfer Credit Card is highly competitive; not only does this deal offer 32 months interest-free for balance transfers, it also charges a low balance transfer fee, making this a great choice for anyone looking to consolidate their debts with minimal cost.



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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