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Moneyfacts Weekly Product News - 04/05/2017

Moneyfacts Weekly Product News - 04/05/2017

Category: Articles
Date: 04/05/2017

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 It is now over 6 months old so the content may be out of date.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

Hampshire trust Bank

Hampshire Trust Bank has increased the rate on its 90-day notice account, which now pays 1.00% upon its anniversary. Savers must invest from £1,000 up to a maximum of £250,000. Additions are permitted, while early access to funds is allowed subject to 90 days' notice being given. This deal is for savers aged 18 and over and can be operated by post and online.

This 1.00% 90-day notice account from Hampshire Trust Bank is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys, making it a great choice for anyone looking for a straightforward savings account. However, savers must be happy to provide 90 days' notice to access funds before entering into the deal.


Raphaels Bank

Raphaels Bank has launched a new one-year fixed rate bond, paying 1.50% on maturity. Savers must invest from £5,000 up to a maximum of £250,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 or over and must be operated in branch or by post.

Savers looking for a short-term home for their savings will be intrigued by this latest launch from Raphaels Bank. Paying 1.50%, this deal sits comfortably within the Moneyfacts.co.uk Best Buys. However, with access to funds not permitted, savers must ensure they have enough funds left over for life's little emergencies.


Mortgages

HSBC

HSBC has reduced its five-year fixed rate mortgage, which is now priced at 1.89% to 30.9.22. This deal is for all applicants who wish to borrow from £10,000 up to £2 million at 75% loan-to-value. No fee is payable and an incentive package of free valuation for all borrowers and free legal fees for remortgage customers is available. This deal allows overpayments of up to 20% of the outstanding balance every month.

The 1.89% five-year fixed rate deal from HSBC is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys for remortgage customers. With the added bonus of no fee being payable, this is likely to be an attractive option for borrowers looking for a high street lender.

HSBC's lending area includes Scotland.

Tesco Bank

Tesco Bank has reduced selected rates across its range, including its five-year fixed rate mortgage which is now priced at 2.14% to 31.7.22. This deal is for remortgage customers who wish to borrow from £40,000 at 80% loan-to-value. A fee of £995 is payable. An incentive package of free valuation and free legal fees is available. This deal allows overpayments of up to 20% of the outstanding balance. Borrowers will also earn one Tesco Clubcard point for every £4 mortgage repayment.

Remortgage customers will be delighted with this attractive offer from Tesco Bank. At 2.14%, this five-year fixed rate mortgage is reasonably priced for its sector. With the addition of the free valuation and free legal fees, this is likely to be a popular choice for those remortgaging. Borrowers may also appreciate the points scheme, which can earn them a little extra every month.

Tesco Bank's lending area includes Scotland.

Credit Cards

Santander

Santander has extended the introductory terms on its Everyday Credit Card. This deal now offers a 30-month introductory interest-free term for both purchases and balance transfers. An introductory balance transfer fee of 2.75% is payable, and purchases after the initial introductory offers have expired will be charged at 18.9% APR. To be eligible for this deal, customers must be 18 or over and have a minimum income of £7,500. Customers can apply in branch, by telephone or online.

Anyone looking to make a large purchase and spread the cost will be intrigued by this latest update from Santander. Now offering 30 months interest-free for purchases, this deal improves its position in the Moneyfacts.co.uk Best Buys. However, borrowers must aim to pay off the balance in full before the deal ends to ensure no interest is charged.

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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