Moneyfacts Weekly Product News - 13/09/2018 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 13/09/2018

Moneyfacts Weekly Product News - 13/09/2018

Category: Articles
Date: 13/09/2018

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

Shawbrook Bank

Shawbrook Bank has increased the rate on its two-year fixed rate ISA, which now pays 1.75% upon its anniversary or 1.74% monthly. Savers can invest from £5,000. Additions are permitted while the issue remains open and early access is allowed subject to a penalty of 180 days' loss of interest. Transfers in from cash and stocks & shares ISAs are also allowed. This deal is for savers aged 18 or over and can be operated by telephone and online.

Savers looking for a tax-free home for their savings will be interested in the latest rate increase by Shawbrook Bank. Paying 1.75%, this two-year fixed rate ISA is highly competitive, improving its position within the Moneyfacts.co.uk Best Buys as a result. The extra flexibility of access to funds, albeit with a penalty, will make this a popular option with savers.

Newcastle Building Society

Newcastle Building Society has launched a new one-year fixed rate ISA, paying 1.45% yearly or 1.44% monthly. Savers can invest from £500. Additions are permitted while the issue remains open and early access is also allowed, subject to 90 days' loss of interest. Transfers in from cash and stocks & shares ISA are welcome. This deal is for savers aged 16 or over and can be operated in branch, by post, by telephone and online.

Paying 1.45%, the new one-year fixed rate ISA from Newcastle Building Society is highly competitive and enters the Moneyfacts.co.uk Best Buy charts as a result. The additional benefit of early access to funds will make this a good option for any saver looking for a flexible ISA.



Mortgages

Post Office Money

Post Office Money has launched a new two-year fixed rate mortgage, priced at 1.69% to 30.11.20. This deal is for all applicants who wish to borrow from £25,001 at 85% 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 is included for all borrowers, while free legal fees for those remortgaging is also available. This deal allows overpayments of up to 10% of the outstanding balance.

The newly launched 1.69% two-year mortgage from Post Office Money is highly competitive, sitting within the top five lowest-rate deals in its sector. As a result, this mortgage heads straight into the Moneyfacts.co.uk Best Buys and is likely to be a popular choice for any borrower with the required 15% deposit.

Post Office Money's lending area includes Scotland.

Saffron Building Society

Saffron Building Society has reduced the rate on its five-year fixed rate mortgage, which is now priced at 3.47% to 30.4.24. This deal is for first-time buyers who wish to borrow between £30,000 and £500,000 at 95% loan-to-value. No fee is payable. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit of 5% will be intrigued by this latest update from Saffron Building Society. Priced at 3.47%, this deal sits within the top five in its sector. The added benefit of no fee payable will no doubt make this a cost-effective choice for first-time buyers on a budget.

Saffron Building Society's lending area does not include Scotland.


Credit Cards

Halifax

Halifax has reviewed its Online Balance Transfer Credit Card Mastercard, which now offers an introductory 34 months of interest-free balance transfers. An introductory balance transfer fee of 3.00% is payable. A three-month interest-free period is also available for purchases, with purchases charged at 19.9% APR thereafter. Customers must be aged 18 or over and applications must be made online.

This latest update from Halifax sees it retain its place in the Moneyfacts.co.uk Best Buys. Offering a 34-month interest-free term for balance transfers makes this product a great choice for any borrower looking to consolidate their debts. However, the debt must be paid off in full before the end of the introductory term to avoid any interest being payable.

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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