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Moneyfacts Weekly Product News - 08/03/2018

Moneyfacts Weekly Product News - 08/03/2018

Category: Articles
Author: Tim Leonard
Date: 08/03/2018

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 It is now over 6 months old so the content may be out of date.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

Virgin Money

Virgin Money has increased the rate on it Double Take E-Saver, an easy access account that now pays 1.30% yearly or 1.29% monthly. Savers can invest from as little as £1 up to a maximum of £250,000. Additions are allowed, however withdrawals are limited to two per year. This deal is for savers aged 16 and over and must be operated online.

This latest increase from Virgin Money sees its Double Take E-Saver head straight to the top of the moneyfacts.co.uk Best Buys for easy access accounts without a bonus. Earning the top spot is likely to make this a popular choice for savers looking to gain quick access to funds. However, they will need to be comfortable with the fact that only two withdrawals are allowed each year.


Nationwide Building Society

Nationwide Building Society has launched a new 12-month regular saver, paying a fixed rate of 5.00% upon its anniversary. Savers can invest between £1 and £250 per month. There are no penalties for a missed payment and unlimited withdrawals can be made. This internet-operated deal is for savers aged 16 and over, and they must be a Nationwide Building Society current account holder to qualify. The deal reverts to an instant access savings account at the end of the term.

Nationwide Building Society's current account holders looking to kick-start their savings habit will be intrigued by this latest launch. Paying 5.00%, this deal heads straight to the top of its sector, and with the flexibility of unlimited withdrawals and penalty-fee missed payments, it's likely to be a popular choice. However, savers will need to review their options before the account reverts to an instant access savings account.


Mortgages

Yorkshire Building Society

Yorkshire Building Society has improved selected offerings in its range, including its 1.24% fixed rate to 30.6.20, which now benefits from the added incentive of free valuation. This deal is for all applicants who wish to borrow between £25,001 and £5 million at 65% loan-to-value. A fee of £495 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 1.24% two-year fixed rate from Yorkshire Building Society is highly competitive, and the addition of the incentive package of free valuation further cements its position in the moneyfacts.co.uk Best Buys. With the great combination of a low rate and reasonable fee, this deal is likely to be a popular choice for borrowers with the required 35% deposit.

Yorkshire Building Society's lending area includes Scotland.

Hanley Economic Building Society

Hanley Economic Building Society has launched a new five-year fixed rate mortgage, priced at 2.59% to 31.2.23. This deal is for all applicants who wish to borrow from £30,000 at 90% loan-to-value. No fee is payable and an incentive package free valuation (up to a maximum of £260) is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a 10% deposit will be intrigued by this latest launch from Hanley Economic Building Society. Priced at 2.59%, this deal sits comfortably at the top of the market. With no fee and free valuation this deal is likely to pique the interest of borrowers looking to minimise any upfront costs.

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

Credit Cards

MBNA Limited

MBNA Limited has reviewed the deal on its Platinum Balance Transfer Credit Card. This deal now offers 36 months of interest-free balance transfers, with an introductory balance transfer fee of 2.49%. This card also offers 20 months of interest-free money transfers, for which an introductory money transfer fee of 4.00% is payable. Purchases are charged at 19.9% APR. Customers must be 18 and over and can apply by phone and online.

The 36-month Platinum Balance Transfer Credit Card from MBNA Limited is likely to be a decent choice for anyone looking to spread the cost of their debts. However, borrowers will need to ensure they pay off the balance in full before the end of the deal period.



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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