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Moneyfacts Weekly Product News - 04/01/2018

Moneyfacts Weekly Product News - 04/01/2018

Category: Articles
Author: Tim Leonard
Date: 04/01/2018

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 It is now over 6 months old so the content may be out of date.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

Post Office Money

Post Office Money has increased its online easy access ISA, which now pays 1.15% yearly, including a bonus of 0.90%. Savers can invest from £100. Additions and unlimited penalty-free withdrawals are permitted. Transfers in from other cash ISAs and stocks and shares ISAs are also allowed. This deal is for savers aged 16 and over and must be operated online.

Savers looking for quick access to their tax-free cash will be intrigued by this latest update from Post Office Money. Paying 1.15%, this deal improves its position in the moneyfacts.co.uk Best Buys. However, savers will need to revaluate the account before the bonus period expires to ensure competitive returns are maintained.


Leeds Building Society

Leeds Building Society has reviewed its regular saver, which pays 2.55% on maturity. Savers can start the account with as little as £50 and can thereafter pay up to £250 each month. Any missed payments can be made up in subsequent months. One penalty-free withdrawal is permitted. This deal is for savers aged 18 and over and can be operated in branch and by post.

The 2.55% regular saver from Leeds Building Society is highly competitive, sitting comfortably within the moneyfacts.co.uk Best Buys, making this a great option for savers looking to kick-start their savings habit. With the extra flexibility of being able to make up any missed payments and one penalty free withdrawal, this deal is likely to be a popular option.


Mortgages

Yorkshire Building Society

Yorkshire Building Society has reduced its five-year fixed rate mortgage, which is now priced at 2.03% to 28.2.23. This deal is for all borrowers who wish to borrow between £50,000 and £1 million at 85% loan-to-value. A fee of £995 is payable. This deal allows overpayments of up to 10% of the outstanding balance.

The 2.03% five-year fixed rate from Yorkshire Building Society is highly competitive sitting comfortably at the top of its sector. This great rate is likely to make this a cost-effective option for borrowers with the required deposit.

Yorkshire Building Society's lending area includes Scotland.

Hanley Economic Building Society

Hanley Economic Building Society has launched a new two-year fixed rate mortgage, which is now priced at 3.49% to 31.3.20. This deal is for all applicants who wish to borrow between £30,000 and £500,000 at 95% loan-to-value. A fee of £250 is payable upfront and an incentive package of free valuation for all borrowers and free legal fees for those remortgaging is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit of just 5% will be interested in this latest launch from Hanley Economic Building Society. Priced at 3.49%, this two-year fixed rate deal heads straight into the moneyfacts.co.uk Best Buys. With the added addition of a low-fee and a decent incentive package, this is likely to be a great choice for borrowers looking to keep initial costs down.

Hanley Economic Building Society' lending area does not include Scotland.

Loans

TSB

TSB has reduced the rate on its unsecured personal loan tier of £7,500 to £25,000. Customers can now apply for this loan over the term of one to five years at a rate of 2.9% APR. Customers must be 18 and over, have a minimum income of £10,200 and apply in branch or by telephone. Online applications are available, but borrowers must be aged 21+.

TSB strengthens its position within the moneyfacts.co.uk Best Buys with a reduction to its £7,500 to £25,000 tier loan rate. Now offering an APR of 2.9%, borrowers who have made the New Year's resolution to sort out their finances and consolidate their debts will be delighted by this offer.



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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