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Moneyfacts Weekly Product News - 08/11/2018

Moneyfacts Weekly Product News - 08/11/2018

Category: Articles
Author: Rachel Springall
Date: 08/11/2018

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

Investec Bank plc

Investec Bank plc has increased the rate on its 18-month fixed bond, which now pays 2.15% upon its anniversary or 2.13% monthly. Savers can invest from £25,000 up to a maximum of £1 million. Additions and early access to funds are not permitted. This deal is for savers aged 16 or over and must be operated online or by phone, and applicants must open an easy access account alongside the bond for transactional purposes.

Savers with a large cash deposit searching for a short-term home will be delighted by this latest rate rise from Investec Bank plc. Now paying 2.15%, the bond climbs towards the top of the Moneyfacts.co.uk Best Buy charts for short-term fixed bonds and earns an 'Excellent' product rating in the process.

Coventry Building Society

Coventry Building Society has launched a Centenary Poppy ISA, which pays a fixed rate of 2.10% yearly (matures on 30.11.23). Savers can invest from £1 and Coventry Building Society will give 0.15% of total balances invested at the end of business on 31.12.18 to The Royal British Legion as a charitable donation. Additions are permitted for the 2018/19 tax year within 14 days of opening or while the issue remains open. Early access is allowed, subject to a 180 days' loss of interest penalty and closure of the account. Transfers in from cash ISAs and stocks & shares ISAs are also permitted. This deal is for savers aged 18 or over and can be operated in branch, by post, online or by phone.

To mark its partnership with The Royal British Legion, Coventry Building Society has launched this year's Poppy-branded savings products. Its Centenary Poppy ISA has entered the long-term fixed ISA Moneyfacts Best Buys with one of the most lucrative rates available over a five-year term and deserves its 'Excellent' product rating as a result. The donation offered by the mutual to The Royal British Legion will further boost its appeal. A non-ISA Poppy Bond is also available paying the same interest rate if savers have already utilised their annual ISA allowance.


Mortgages

Yorkshire Building Society

Yorkshire Building Society has reduced the rate on its two-year fixed rate mortgage, which is now priced at 3.17% to 31.12.20. This deal is for first and second-time buyers who wish to borrow at 95% loan-to-value. No fee is payable and an incentive package of free valuation and £250 cashback is included. This product allows overpayments of up to 10% of the outstanding balance.

This latest rate reduction by Yorkshire Building Society cements its two-year fixed mortgage in the Moneyfacts Best Buy charts and sees it achieve an 'Outstanding' product rating in the process. The generous incentive package of free valuation and £250 cashback will likely gain the attention of borrowers who can muster a 5% deposit.

Yorkshire Building Society's lending area includes Scotland.­

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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