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Moneyfacts Weekly Product News - 05/04/2018

Moneyfacts Weekly Product News - 05/04/2018

Category: Articles
Date: 05/04/2018

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

Leeds Building Society

Leeds Building Society has reissued its regular saver, paying a variable rate of 2.55% on maturity (31.3.19). Savers can start the account with as little as £50 and can thereafter deposit up to £250 each month. Any missed payments can be made up in subsequent months. One penalty-free withdrawal is permitted during the term. 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 it 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.


Secure Trust Bank

Secure Trust Bank has increased the rate on its five-year fixed rate bond, which now pays 2.65% yearly. Savers can invest from £1,000 up to a maximum of £1 million. Additions are permitted within 30 days of the account opening, however early access to funds is not allowed. This deal is for savers aged 18 and over and can be operated online or by phone.

Savers looking for a long-term home for their savings pot will be delighted by the latest rate increase from Secure Trust Bank. Paying 2.65% this deal heads straight into the moneyfacts.co.uk Best Buys, however with no early access to funds savers must ensure they have enough cash left over for life's emergencies.


Mortgages

West Brom Building Society

West Brom Building Society has reduced the rate on its two-year fixed rate mortgage, which is now priced at 3.39% to 31.5.20. 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 (max £740) is available. This deal also allows overpayments of up to £999 every month.

Borrowers with a small deposit of just 5% will be intrigued by this latest offering from West Brom Building Society. Priced at 3.39% this deal is highly competitive and enters the moneyfacts.co.uk Best Buys for first-time buyers. Benefiting from no fee and a decent incentive package, this is likely to be a cost-effective option for many.

West Brom Building Society's lending area does not include Scotland.

Loans

Sainsbury's Bank

Sainsbury's Bank has reduced the rate on its unsecured personal loan tier of £7,500 to £15,000. Customers can now apply for this loan amount over a term of 37 months to five years at a rate of 2.8% APR. Customers must be 18 up to a maximum age of 80, have a minimum income of £7,500 and be Nectar cardholders. Customers will be able to apply by telephone or online.

Sainsbury's Bank strengthens its position within the moneyfacts.co.uk Best Buys with a reduction to its £7,500 to £15,000 tier loan rate. Now offering an APR of 2.8%, this will be a good option for anyone looking to consolidate their debts.



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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