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Moneyfacts Weekly Product News - 14/09/2017

Moneyfacts Weekly Product News - 14/09/2017

Category: Articles
Author: Tim Leonard
Date: 14/09/2017

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 It is now over 6 months old so the content may be out of date.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

Virgin Money

Virgin Money has launched Man United Double Champions ISA, a new one-year fixed rate ISA which pays 1.20% yearly with a 2.00% bonus if Manchester United wins both the Premiership and the FA Cup. Savers can invest from as little as £1. Additions are permitted for 30 days from the account opening and early access is also allowed subject 60 days' loss of interest. Transfers in from other cash ISAs are allowed too. Customers will furthermore earn entries into United Rewards prize draws. This deal is for savers aged 16 and over and can be operated by branch or phone. An online version is also available.

Optimistic Manchester United fans looking to save will be intrigued by this latest offer from Virgin Money. Paying 1.20%, this deal is highly competitive and enters the moneyfacts.co.uk Best Buys. With a bonus of 2.00% if Manchester United does 'the double', this account is likely to be worth a gamble for devoted fans.


Secure Trust Bank

Secure Trust Bank has launched a new one-year fixed rate bond priced at 1.85% yearly. Savers must invest from £1,000 up to a maximum of £1 million. Additions are permitted while the issue remains open, but early access to funds is not allowed. This deal is for savers aged 18 and over and must be operated by phone.

Paying 1.85%, this deal from Secure Trust Bank is highly competitive, making its mark on the moneyfacts.co.uk Best Buys. This is likely to be a good option for savers looking to maximise their interest over the shorter term. However, with no early access permitted, savers must ensure they are happy with their initial deposit.


Mortgages

Yorkshire Building Society

Yorkshire Building Society has reduced its two-year fixed rate mortgage, which is now priced at 1.13% to 30.11.19. This deal is for all who wish to borrow from £25,001 up to £5 million at 75% loan-to-value. A fee of £995 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.

The reduction to Yorkshire Building Society's two-year fixed rate deal, now at 1.13%, makes it an instant moneyfacts.co.uk Best Buy. With a great incentive package which includes £250 cashback, this is likely to be a popular choice for those looking to minimise their upfront costs.

Yorkshire Building Society's lending area includes Scotland.

Leek United Building Society

Leek United Building Society has reduced its two-year fixed rate mortgage, now priced at 3.69% to 31.12.19. This deal is for all applicants who wish to borrow from £25,000 at 95% loan-to-value. No fee is payable and an incentive package of free valuation and £500 cashback is available. This deal has the flexibility of being able to make overpayments of up to 10% of the mortgage advance.

Borrowers with a small deposit of 5% will be delighted by this latest update from Leek United Building Society. Priced at 3.69%, this revamped deal heads straight into the moneyfacts.co.uk first-time buyer Best Buys. With the addition of no fee payable and a decent incentive package, this is a great offering for the cash-strapped borrower.

Leek United Building Society's lending area does not include Scotland.

Credit Cards

Santander

Santander has amended the introductory balance transfer term on its All in One Credit Card MasterCard. This deal now offers an introductory six months interest-free for purchases and 39 months interest-free for balance transfers. No introductory balance transfer fee is payable. Purchases after the initial deal has expired are charged at 21.7%. Cashback of 0.50% on all spending per month is also available. A fee of £3 per month is payable, however this is waived for 123 current account customers. Customers must be 18 or over and have a minimum income of £7,500. Customers can apply in branch, by telephone and online.

This reduction to the balance transfer term follows similar tweaks to other cards in this sector. Despite it, the deal retains a competitive position in the market. Those looking for a credit card to earn a little extra each time they spend will find the 0.50% cashback highly appealing, but they must be prepared to pay a monthly fee if they don't hold a 123 current 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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