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Moneyfacts Weekly Product News - 10/01/2019

Moneyfacts Weekly Product News - 10/01/2019

Category: Articles
Author: Rachel Springall
Date: 10/01/2019


Cynergy Bank

Cynergy Bank has increased the rate on its online easy access account, which now pays 1.50% on its anniversary. An introductory bonus of 0.50% is included for the first 12 months. Savers can invest from £1 up to a maximum of £1 million and unlimited penalty-free withdrawals are permitted. This deal is available to savers aged 18 or over and must be opened and operated online.

The rate rise by Cynergy Bank (by 0.09%) to its easy access account has secured its place towards the top of the Moneyfacts.co.uk Best Buys for easy access accounts with a bonus and earns an Excellent product rating as a result. Savers looking to save from as little as £1 and searching for a simple account will find this deal highly competitive. However, as it includes a bonus of 0.50%, it would be wise to review the interest rate before the bonus expires.

Yorkshire Bank

Yorkshire Bank has launched a brand new three-year fixed rate ISA, which pays 1.81% until 28.2.22 each year. Savers can invest from £10 and additions are permitted while the issue remains open, however early access is allowed subject to a penalty of 180 days' loss of interest. Transfers in from cash ISAs and stocks & shares ISAs are also allowed. This branch and online-operated account is for savers aged 16 or over, however customers applying online are required to be aged 18 or over.

Savers looking for an ISA paying a fixed return will find this new three-year deal from Yorkshire Bank intriguing. Sitting near the top of the three-year market at 1.81%, this ISA may well be popular with those looking for a well-known brand. The opportunity to exit the deal early is also convenient, which is dependent on the time invested, subject to an interest penalty, with its appeal is also increased by its Excellent Moneyfacts product rating.


Barclays Mortgage

Barclays Mortgage has reduced the rate on its five-year fixed rate mortgage, which is now priced at 1.94% to 30.4.24. This deal is for remortgage customers who wish to borrow at 75% 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 and free legal fees is included. This product allows overpayments of up to 10% of the outstanding balance.

This latest rate reduction (of 0.03%) by Barclays Mortgage on its five-year fixed deal has improved its position in the market, becoming the lowest rate in its sector. Remortgage customers searching for a competitively priced product with a well-known brand, but also are hoping to save on the upfront cost, will find its incentive package highly appealing. This deal cements itself in the Moneyfacts.co.uk Best Buys for remortgage customers and earns a well-deserved Outstanding product rating in the process.

Barclays Mortgage's lending area includes Scotland.

Hanley Economic Building Society

Hanley Economic Building Society has launched a new five-year fixed rate mortgage, priced at 3.39% to 31.1.24. This deal is available for all applicants who wish to borrow from £30,000 at 95% loan-to-value. No product fee is payable and an incentive package of free valuation (property value max £250,000, £310 contribution if valuation over this amount) is included. Overpayments of up to 10% of the outstanding balance are also permitted.

Borrowers with little equity or have a small deposit of just 5% will be delighted by this latest deal launched by Hanley Building Society. Not only is the deal competitively priced at 3.39%, but it also carries a great incentive package of free valuation and doesn't charge a product fee. It is little wonder then that this mortgage product heads straight into the Moneyfacts.co.uk Best Buys for first-time buyers and earns an Outstanding product rating as a result.

Hanley Economic 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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