Moneyfacts Weekly Product News - 14/12/2017 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 14/12/2017

Moneyfacts Weekly Product News - 14/12/2017

Category: Articles
Date: 14/12/2017

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

United Bank UK

United Bank UK has increased the rate on its five-year fixed rate ISA, which now pays 2.15% on upon its anniversary or 2.13% monthly. Savers must invest from £2,000. Earlier access is permitted on closure only and will be subject to 365 days' loss of interest. Transfers in from cash ISAs are also permitted. This deal is for savers aged 18 and over and can be operated by post or in branch.

The improvement to the five-year fixed ISA from United Bank UK propels the deal to the top of the moneyfacts.co.uk Best Buys. Savers who are looking to utilise their ISA allowance and desire a longer-term investment will be pleasantly surprised by its market-leading return of 2.15%.


United Trust Bank

United Trust Bank has increased the rate on its UTB one-year fixed rate bond, which now pays 1.87% on maturity. Savers can invest from £500 up to maximum of £500,000. Earlier access and further additions are not permitted. This deal is for savers aged 18 and over and can be operated by post or in branch.

United Trust Bank's one-year fixed bond has attained a place in the moneyfacts.co.uk Best Buys thanks to a decent rate rise. Paying 1.87%, the deal places highly in the short-term fixed market and is likely to entice savers searching for a competitive return.



Mortgages

TSB

TSB has launched a brand-new ten-year fixed rate mortgage, priced at 2.34% to 31.1.28. This deal is for first and second-time buyers only, at 60% loan-to-value who borrow from £5,000 up to £1 million. A fee of £995 is payable upfront. This deal allows overpayments of up to 10% of the outstanding balance and allows borrowers to take payment holidays after one year.

This brand new ten-year fixed rate mortgage from TSB is likely to turn heads as it takes a place as the lowest rate in its sector. The deal comfortably takes a position in the moneyfacts.co.uk Best Buys and could be a great choice for borrowers looking to secure their monthly mortgage repayment for a decade.

TSB's lending area includes Scotland.

Hinckley & Rugby Building Society

Hinckley & Rugby Building Society has introduced a new five-year fixed rate mortgage to its range, priced at 3.99%. This deal is for all types of borrowers who wish to borrow from £75,000 at 95% loan-to-value. No fee is payable and an incentive package of free valuation is available, plus remortgage customers will get free legal fees. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers who have a limited deposit, or indeed equity of 5%, will be delighted by this new addition to the mortgage market. This five-year fixed rate deal priced at 3.99% takes a position in the moneyfacts.co.uk Best Buys and is highly deserving of its 'outstanding' Moneyfacts product rating. Borrowers will also be able to save on the upfront cost of their deal thanks to the generous incentive package.

Hinckley & Rugby Building Society's lending area does not include Scotland.

Credit Cards

Tesco Bank

Tesco Bank has reviewed its Clubcard Credit Card for Balance Transfers MasterCard. This deal now offers 36 months interest-free for balance transfers, on which an introductory balance transfer fee of 2.69% is payable. An introductory 36 months interest-free offer for money transfers is also available, with an introductory money transfer fee of 3.94%. This card also offers a three month interest-free offer for purchases, but purchases will be charged at 18.9% APR after this initial deal expires. Customers must be 18 or over, have a minimum income of £5,000 and can apply by telephone, by post or online. Account holders will also be able to benefit from Tesco Clubcard points when they spend.

Borrowers seeking out a longer-term interest-free balance transfer offer are likely to find this card appealing. Despite an adjustment to the interest-free term offered on balance transfers, Tesco Bank retains a position in the moneyfacts.co.uk Best Buys with its 36-month deal thanks to its competitive balance transfer fee.

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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