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Moneyfacts Weekly Product News - 13/07/2017

Moneyfacts Weekly Product News - 13/07/2017

Category: Articles
Date: 13/07/2017

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

Zenith Bank

Zenith Bank has increased the rate on its three-year fixed rate bond, which now pays 2.00% upon its anniversary. Savers must invest from £1,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated in branch, by post and over the phone.

Savers looking to maximise their interest over the medium term will be intrigued by this latest increase from Zenith Bank. Paying 2.00%, this deal heads straight into the moneyfacts.co.uk Best Buys. However, with no early access to funds, savers must ensure they are happy with their initial deposit.


Ford Money

Ford Money has increased the rate on its easy access account, which now pays 1.07% yearly or 1.06% monthly. Savers can invest from as little as £1 up to a maximum of £2 million. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 16 and over, and must be operated online.

Paying 1.07%, this easy access account from Ford Money is highly competitive and improves its position in the moneyfacts.co.uk Best Buys. With the added benefit of unlimited penalty-free withdrawals, this deal is likely to be a popular choice for savers looking for an account they can dip in and out of.


Mortgages

Skipton Building Society

Skipton Building Society has launched a new two-year fixed rate mortgage, priced at 0.99% to 30.9.19. This deal is for all applicants who wish to borrow at 60% loan-to-value. A fee of £1,995 is payable, all of which can be added to the mortgage advance. An incentive package of free valuation for all borrowers and free legal fees for those remortgaging is available. This deal allows overpayments of up to 10% of the outstanding balance.

This 0.99% two-year fixed rate deal from Skipton Building Society is highly competitive and enters the market as joint lowest. The extra benefit of an incentive package of free valuation for all and free legal fees for those remortgaging will only increase its appeal for those looking to obtain the lowest possible monthly repayments.

Skipton Building Society's lending area includes Scotland.

West Brom Building Society

West Brom Building Society has reduced the rate on its three-year fixed rate mortgage, which is now priced at 2.69% to 31.8.20. This deal is for first and second-time buyers who wish to borrow from £40,000 at 90% loan-to-value. No fee is payable and an incentive package of free valuation and £500 cashback is available. This deal allows overpayments of up to £999 every month.

Borrowers with a modest deposit of 10% will be delighted by this latest update from West Brom Building Society. Priced at 2.69%, this three-year fixed rate deal heads straight into the moneyfacts.co.uk Best Buys. With the added bonus of no fee and £500 cashback, this is likely to be an attractive option for those looking to keep initial costs down.

West Brom Building Society's lending area does not include Scotland.

Credit Cards

Virgin Money

Virgin Money has launched a new 38-month Balance Transfer Credit Card MasterCard. This deal offers 38 months interest-free for balance transfers, whereby an introductory balance transfer fee of 1.50% is payable. It also offers 20 months interest-free on money transfers, whereby an introductory money transfer fee of 1.90% is payable. The card also offers an interest-free purchase offer for three months, thereafter purchases are charged at 20.9% APR. To be eligible for this deal, customers must be 18 or over. Customers can apply by telephone or online.

Not only does the new credit card from Virgin Money offer 38 months interest-free for balance transfers, it also provides a money transfer option of 20 months interest-free with the lowest fee currently available of 1.90%, ideal for those looking to credit their bank account.

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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