Moneyfacts Weekly Product News - 04/10/2018 | Product News |

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Moneyfacts Weekly Product News - 04/10/2018

Moneyfacts Weekly Product News - 04/10/2018

Category: Articles
Author: Charlotte Nelson
Date: 04/10/2018

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 It is now over 6 months old so the content may be out of date.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



OakNorth has increased the rate on its easy access account, which now pays 1.30% monthly. Savers can invest from £1,000 up to a maximum of £250,000. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 18 or over and must be operated online.

Savers looking for quick access to funds will be interested in this latest increase from OakNorth. Paying 1.30%, this deal enters the Moneyfacts Best Buys and is a great choice for any saver looking for an easy access account without a bonus.

Leeds Building Society

Leeds Building Society has increased the rate on its one-year fixed rate ISA, which now pays 1.51% on maturity (1.12.19). Savers can invest from £100. Additions are permitted until 30.11.18 and early access is allowed subject to a penalty of 60 days' loss of interest. Transfers in from other cash ISAs and stocks and shares ISAs are permitted. This deal is for savers aged 16 or over and can be operated in branch and by post.

This fixed rate ISA from Leeds Building Society is highly competitive, paying 1.51% it heads straight into the Moneyfacts Best Buys as a result. With its impressive rate, this account is likely to be an attractive option for any saver looking for a short-term home for their annual tax-free allowance.


Barclays Mortgage

Barclays Mortgage has launched a new two-year fixed rate mortgage, which is now priced at 1.68% to 31.10.20. This deal is for all applicants who wish to borrow from £5,000 up to £2 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 free legal fees for those remortgaging is included. This deal allows overpayments of up to 10% of the outstanding balance.

Priced at 1.68%, this deal from Barclays Mortgage is highly competitive, sitting within the top 10 lowest rates available in its sector. With the added bonus of a comprehensive incentive package, this is an option worth considering for any borrow looking for a high street brand.

Barclays Mortgage's lending area includes Scotland.


Sainsbury's Bank

Sainsbury's Bank has reviewed the rates on selected tiers of its unsecured personal loan, which means customers can now apply for a personal loan of between £5,000 and £7,500 over a term of one to three years at a rate of 3.5% APR. Customers must be aged between 18 and 80, have a minimum household gross income of £7,500 and hold a Nectar Card. Applications can be made by telephone or online.

This review to Sainsbury's Bank unsecured personal loan sees it sit comfortably within its sector and earn an Outstanding Moneyfacts Rating. With a decent APR of 3.5%, this is likely to be a popular choice for those looking to consolidate their debts.

Current accounts


NatWest has launched a switching incentive for its Reward Current Account. Customers will receive £125 for accounts that are switched using the Current Account Switch Service, provided the old account is closed, the account is credited with £1,500 each month and they log into internet banking at least once every three months. A £2 per month fee is payable, however customers will be able to earn 2% cashback on utility bills and 1% on any qualifying purchases with selected retailers. This offer is for a limited time only and will close 3 December.

NatWest's new switching incentive is a great perk for anyone who's not content with their current deal and is considering moving bank accounts. Customers must of course look at all aspects of the account first to ensure this is the most suitable deal for them. Anyone considering this account must also note that they will need to switch before 3 December to avoid missing out.


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.