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Moneyfacts Weekly Product News - 11/05/2017

Moneyfacts Weekly Product News - 11/05/2017

Category: Articles
Date: 11/05/2017

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 It is now over 6 months old so the content may be out of date.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

Tesco Bank

Tesco Bank has increased the rate on its Internet Saver, an easy access account that now pays 1.06% yearly including an introductory bonus of 0.66% for one-year. Savers can invest from as little as £1. Additions and unlimited penalty-free access to funds are permitted. This deal is for savers aged 18 and over and must be operated online.

Savers looking to kick-start their savings habit will be delighted by this latest update from Tesco Bank. Paying 1.06%, this deal cements its place in the Moneyfacts.co.uk Best Buys, making this a great choice for savers who want to be able to dip in and out of their pot.


Hampshire Trust Bank

Hampshire Trust Bank has increased the rate on its 90-day notice account, which now pays 1.25% upon its anniversary. Savers must invest from £1,000 up to a maximum of £250,000. Additions are permitted, while early access to funds is allowed subject to 90 days' notice being given. This deal is for savers aged 18 and over and can be operated by post and online.

Hampshire Trust Bank is starting to ramp up the competition in the notice market with yet another increase to its 90-day notice account. Now paying 1.25%, this deal improves its position in the Moneyfacts.co.uk Best Buys. However, savers must remember that 90 days' notice must always be provided to access any funds.


Mortgages

Skipton Building Society

Skipton Building Society has launched a new two-year fixed rate mortgage, which is priced at 2.50% to 30.6.19. This deal is for all borrowers who wish to borrow from £80,000 at 85% loan-to-value. No fee is payable and an incentive package of free valuation and £1,000 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

The 2.50% two-year fixed rate from Skipton Building Society sits comfortably in the market. With the added benefits of no fee and a fabulous incentive package including £1,000 cashback, this is likely to be a popular choice for those looking to minimise any upfront costs.

Skipton Building Society's lending area includes Scotland.

Halifax

Halifax has added a £1,000 cash rebate to selected products in its range. One deal that now boasts this incentive is its 1.63% fixed rate mortgage to 31.8.19. This deal is for first-time buyers only who wish to borrow up to £1 million at 60% loan-to-value. A fee of £790 is payable, all of which can be added to the advance of the mortgage. This deal allows overpayments of up to 10% per year.

First-time buyers with a significant deposit will likely sit up and take notice of this latest offering from Halifax. Priced at 1.63%, this deal sits comfortably in its sector. Couple this with the reasonable fee and the new £1,000 cash rebate incentive, and this is likely to be a popular choice for those looking to borrow with a high street lender.

Halifax's lending area includes Scotland.

Loans

Sainsbury's Bank

Sainsbury's Bank has reduced the rate on its unsecured personal loan tier of £5,000 to £7,499. Customers can now apply for this loan over a term of one to three years at a rate of 3.5% APR. Customers must be 18 or over and a Nectar Cardholder with a minimum income of £7,500. Applications can be made by telephone and online.

This cut by Sainsbury's Bank to its £5,000-£7,499 loan tier sees this loan rate jump to the top of the Moneyfacts.co.uk Best Buys. With this loan now the cheapest available option at this tier, borrowers looking for a smaller loan will be surely delighted by the offer.

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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