Moneyfacts Weekly Product News - 15/02/2018 | Product News | moneyfacts.co.uk

Product News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Moneyfacts Weekly Product News - 15/02/2018

Moneyfacts Weekly Product News - 15/02/2018

Category: Articles
Author: Tim Leonard
Date: 15/02/2018

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 It is now over 6 months old so the content may be out of date.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

PCF Bank

PCF Bank has increased the rate on its two-year fixed rate bond, which now pays 2.05% on its anniversary. Savers must invest from £1,000 up to a maximum of £250,000. Additions are permitted within 14 days of the account opening; however, early access to funds is not allowed. This deal is for savers aged 18 and over and can be operated by post, by telephone and online.

Paying 2.05%, this two-year fixed rate deal from PCF Bank is highly competitive, entering the moneyfacts.co.uk Best Buys as a result. This bond could be a good choice for any saver looking to maximise their interest over the shorter-term; however, with no early access to funds, savers must ensure they are happy with their initial investment.


United Bank UK

United Bank UK has increased the rate on its three-year fixed rate ISA, which now pays 1.87% on its anniversary or 1.85% monthly. Savers must invest from £2,000 and additions are not permitted; however, early access to funds is permitted subject to the closure of the account and a penalty of 270 days' loss of interest. Transfers in from other cash ISAs are also permitted. This deal is for savers aged 18 and over and can be operated in branch and by post.

Savers looking for a fixed ISA for their tax-free savings will be delighted by this latest increase to United Bank UK's three-year ISA offering. Paying 1.87% (or 1.85% monthly), this deal improves its position in the moneyfacts.co.uk Best Buys. The added flexibility of early access to funds - albeit at a penalty and closure of the account - will only further this account's appeal.


Mortgages

Hanley Economic Building Society

Hanley Economic Building Society has launched a new five-year fixed rate mortgage, priced at 3.95% to 31.3.23. This deal is for all applicants who wish to borrow from £30,000 at 95% loan-to-value. No fee is payable and an incentive package of free valuation fees is available. This deal allows overpayments of up to 10% of the outstanding balance.

The new 3.95% five-year fixed rate mortgage from Hanley Economic Building Society is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. With no fee and free valuation, this deal is likely to be a great choice for first-time buyers with a small deposit of just 5%.

Hanley Economic Building Society's lending area excludes Scotland.

Skipton Building Society

Skipton Building Society has reduced its two-year variable tracker rate, which is now priced at 1.37%. This deal is for all applicants who wish to borrow from £5,000 at 60% loan-to-value. No fee is payable and an incentive package of a 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.

Those looking to remortgage will be intrigued by the latest reduction from Skipton Building Society. Priced at 1.37%, this two-year variable tracker deal heads straight into the moneyfacts.co.uk Best Buys for remortgages. The added bonus of no fee and a decent incentive package is likely to make this a great deal for those looking to minimise their upfront costs.

Skipton Building Society's lending area includes Scotland.

Loans

Hitachi Personal Finance

Hitachi Personal Finance has reduced the rate on its unsecured personal loan tier of £7,500 to £15,000. Customers can now apply for this loan over the term of two to five years at a rate of 3.1% APR. Customers must be 21 or over and apply by telephone or online.

This reduction by Hitachi Personal Finance to its £7,500 to £15,000 tier loan rate sees it strengthen its position in the market. Now offering an APR of 3.1%, this is likely to appeal to borrowers who are looking to consolidate their debts.



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.

Close