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Moneyfacts Weekly Product News - 12/07/2018

Moneyfacts Weekly Product News - 12/07/2018

Category: Articles
Date: 12/07/2018

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

Tesco Bank

Tesco Bank has increased the rate on its Internet Saver, an easy access account that now pays 1.31% yearly including a bonus of 0.76% for 12 months. Savers can invest from as little as £1. Additions and unlimited easy access withdrawals are permitted. This deal is for savers aged 18 and over and can be operated by phone and online.

Tesco Bank's Internet Saver paying 1.31% is highly competitive, improving its position within the Moneyfacts.co.uk Best Buys. This great rate is likely to be a popular choice for any saver looking for easy access to their cash, however they will need to review the rate before the bonus period expires to ensure competitive returns are maintained.

Atom Bank

Atom Bank has launched a new six-month fixed rate bond, paying 1.79% on maturity or monthly. Savers can invest from £50 up to a maximum of £100,000. Additions are permitted for one week from account opening, however early access to funds is not allowed. Savers must be 18 and over and should note that this deal must be operated via mobile app.

Savers looking for a short-term home for their savings will find this latest launch from Atom Bank an attractive proposition. Paying 1.79%, this deal is highly competitive and sits at the top of its sector. However, with no early access to funds, savers must be happy with their initial deposit and the term from the outset.


Mortgages

Skipton Building Society

Skipton Building Society has launched a new two-year fixed rate mortgage, which is now priced at 2.99% to 31.8.20. This deal is for first and second-time buyers who wish to borrow between £5,000 and £450,000 at 95% loan-to-value. A fee of £495 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation fees is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit of 5% will be delighted by this latest launch from Skipton Building Society. Priced at 2.99% this deal sits within the top five lowest deals in its sector, and as a result enters the Moneyfacts.co.uk Best Buys. The addition of the free valuation is likely to make this a cost-effective option for borrowers.

Skipton Building Society's lending area includes Scotland.

Yorkshire Building Society

Yorkshire Building Society has reviewed the rate on its two-year fixed rate mortgage, which is now priced at 1.61% to 30.9.20. 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. An incentive package of free valuation and £250 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

Yorkshire Building Society's 1.61% two-year fixed rate is highly competitive, retaining its position within the Moneyfacts.co.uk Best Buys. Borrowers with the required 35% deposit will also benefit from a low fee and a fabulous incentive package including £250 cashback, making this an attractive option.

Yorkshire Building Society's lending area includes Scotland.


Credit cards

MBNA Limited

MBNA Limited has tweaked the deal on its All Round Credit Card Mastercard, which now offers an introductory 28-month interest-free period for both purchases and balance transfers. An introductory balance transfer fee of 2.72% is payable. After the introductory term expires, standard purchases are charged at 19.9% APR. Customers must be at least 18 years old and can apply by phone or online.

This latest update from MBNA Limited sees its interest-free credit card retain its place within the Moneyfacts.co.uk Best Buys. Offering 28 months of interest-free purchases as well as balance transfers, this is a great choice for any borrower looking for some breathing space when buying a larger item, while also offering them the option to consolidate their card debt.

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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