Moneyfacts Weekly Product News - 07/06/2018 | Product News | moneyfacts.co.uk

Product News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Moneyfacts Weekly Product News - 07/06/2018

Moneyfacts Weekly Product News - 07/06/2018

Category: Articles
Author: Lieke Braadbaart
Date: 07/06/2018

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 It is now over 6 months old so the content may be out of date.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

Bank of Cyprus UK

Bank of Cyprus UK has reviewed the rate on its Online Easy Access Savings Account, which now pays 1.30% upon its anniversary, including a bonus of 0.45% for 12 months. Savers can invest from as little as £1 up to a maximum of £1 million. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 18 and over and must be operated online.

The 1.30% easy access account from Bank of Cyprus UK is highly competitive, remaining at the top of the Moneyfacts.co.uk Best Buys for easy access accounts with a bonus. This great rate is likely to be a popular choice among savers looking to kick-start their savings habit. However, they will need to review the rate when the bonus period expires to ensure competitive returns are maintained.

Shawbrook Bank

Shawbrook Bank has increased the rate on its three-year fixed rate bond, which now pays 2.30% upon its anniversary. Savers must invest from £5,000 up to a maximum of £2 million. Additions are permitted while the issue remains open, however no early access to funds is allowed. This deal is for savers aged 18 or over and can be operated by phone and online.

Savers looking for a fixed home for their savings will be intrigued by this latest increase from Shawbrook Bank. Paying 2.30% this deal improves its position within the Moneyfacts.co.uk Best Buys. However, with no early access to funds, savers will need to ensure they have enough set aside for life's little emergencies.


Mortgages

Principality Building Society

Principality Building Society has reviewed its two-year fixed rate mortgage, which is now priced at 1.55% to 31.8.20. This deal is for all applicants who wish to borrow from £5,000 up to £750,000 at 65% loan-to-value. A fee of £895 is payable, all of which can be added to the advance of the mortgage. This deal allows overpayments of up to 10% of the outstanding balance.

The 1.55% two-year fixed rate mortgage from Principality Building Society is highly competitive, sitting comfortably among the top 10 lowest-priced deals in its sector. This great rate is likely to be a popular choice for anyone with the required deposit looking to minimise their monthly repayments.

Principality Building Society's lending area does not include Scotland.

AA Mortgages

AA Mortgages has launched a new five-year fixed rate mortgage, priced at 3.78% to 31.7.23. This deal is for first and second-time buyers who wish to borrow from £25,001 at 95% loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit will be interested in this latest launch from AA Mortgages. Priced at 3.78% this five-year fixed rate deal heads straight into the Moneyfacts.co.uk Best Buys for first-time buyers. The added bonus of a great incentive package is likely to make this deal an attractive option for cash-strapped borrowers.

AA Mortgages' lending area includes Scotland.


Loans

M&S Bank

M&S Bank has reviewed selected tiers of its unsecured loan, which means customers can now apply for a personal loan of £7,500 to £20,000 over a term of 37 months to seven years at a rate of 2.9% APR. Customers must be 18 or over and have a minimum income of £10,000 per year. Applications can be made in branch, by telephone and online.

The 2.9% rate from M&S Bank is highly competitive, retaining a spot in the Moneyfacts.co.uk Best Buys. As a result, this is likely to be a decent choice for anyone looking for a medium-sized loan.

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.

Close