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Moneyfacts Weekly Product News - 11/01/2018

Moneyfacts Weekly Product News - 11/01/2018

Category: Articles
Author: Tim Leonard
Date: 11/01/2018

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 It is now over 6 months old so the content may be out of date.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

Ford Money

Ford Money has launched a new 18-month fixed rate cash ISA, paying 1.40% yearly or 1.39% monthly. Savers can invest from a minimum of £500. Additions are permitted within 14 days from the account opening, early access to funds is also allowed subject to 180 days' loss of interest penalty. Transfers in from other cash and stocks and shares ISAs are permitted. This deal is for savers aged 16 and over and must be operated online.

Savers looking for a short-term home for their tax-free savings will be interested by the latest offering from Ford Money. Paying 1.40% yearly, this deal heads straight into the moneyfacts.co.uk Best Buys making it a popular choice for those happy to invest online.


Manchester Building Society

Manchester Building Society has launched their new 120 Day Notice Saver, paying 1.50% yearly. Savers must invest from £1,000 up to a maximum of £75,000. Early access to funds is permitted subject to 120 days' notice being given. This deal is for savers aged 18 and over and can be operated either in branch or by post.

Manchester Building Society's new 120 Day Notice Saver paying 1.50% is highly competitive and sits comfortably in the moneyfacts.co.uk Best Buys. This great rate will be an appealing option for savers looking to maximise their interest over the shorter-term. However, savers will need to bear in mind that 120 days' notice must be given to access their cash without a penalty.


Mortgages

Metro Bank

Metro Bank has reduced its five-year fixed rate mortgage, which is now priced at 2.04%. This deal is for remortgage customers only who wish to borrow from £50,000 at 80% loan-to-value. A fee of £999 is payable, all of which must be paid upfront. It also features an incentive package of free valuation and the option to either receive free legal fees or £250 cashback. This deal allows overpayments of up to 20% of the outstanding balance.

The 2.04% five-year fixed rate deal from Metro Bank sits comfortably towards the top of the market. The added bonus of a great incentive package will make those looking to remortgage on a budget sit up and take notice.

Metro Bank's lending area does not include Scotland.

Newcastle Building Society

Newcastle Building Society has reduced its five-year fixed rate mortgage, which is now priced at 4.19% to 30.4.23. This deal is for all applicants, who wish to borrow from £10,000 at 95% loan-to-value. No fee is payable, plus the following incentive packages are available: a free valuation for all borrowers, £500 cashback for house purchase customers and an option of £500 cashback or free legal fees for those remortgaging. This deal allows overpayments of up to £499 every month.

Those with a small deposit of 5% will find the latest update from Newcastle Building Society intriguing. At 4.19%, this deal is reasonably priced for its sector. The lack of fee and the cashback options available will certainly make this an attractive option for those with a limited budget.

Newcastle Building Society's lending area includes Scotland.

Loans

Admiral

Admiral has reduced the rate on its unsecured personal loan tier of £5,000 to £7,499. Customers can now apply for this loan for over one to five years at a rate of 3.3% APR. Customers must be aged between 18 and 74 and applications can be made online and by telephone.

This latest reduction to Admiral's personal loan rate sees the £5,000 to £7,499 tier head straight to the top of the moneyfacts.co.uk Best Buys. Now offering an APR of 3.3%, this is an ideal choice for borrowers looking for a smaller loan amount.



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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