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Moneyfacts Weekly Product News - 15/03/2018

Moneyfacts Weekly Product News - 15/03/2018

Category: Articles
Date: 15/03/2018

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

Coventry Building Society

Coventry Building Society has increased the rate on its 30-day notice ISA, which now pays 1.25% upon its anniversary. Savers can invest from as little as £1. Further additions are permitted and penalty-free access to funds is allowed, subject to 30 days' notice being given, otherwise a penalty of 30 days' loss of interest is applicable. Transfers in are only permitted for funds that have been put into other cash ISAs in the current tax year. This deal is for savers aged 16 and over and can be operated in branch, by post, by telephone and online.

The 1.25% 30-day notice account from Coventry Building Society is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. The great rate makes this deal the perfect choice for savers looking for a straightforward account for their tax-free allowance. However, savers must remember to give 30 days' notice to avoid any penalties.


Sainsbury's Bank

Sainsbury's Bank has launched eSaver Special, an easy access account that pays tiered rates of up to 1.26% variable, depending on the amount invested. Savers can invest from £1, although at least £30,000 will be required to earn the highest rate of interest. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 18 and over and must be operated online.

Savers with larger pots looking for quick access to their funds will be delighted by this latest launch from Sainsbury's Bank. Paying 1.26% on balances between £30,000 and £50,000, this deal earns a position in the Moneyfacts.co.uk Best Buys and is a great choice for online investors.


Mortgages

Monmouthshire Building Society

Monmouthshire Building Society has reduced the rate on its two-year discounted variable rate mortgage, which is now priced at 2.99% (2.00% discount). This deal is for first and second-time buyers who wish to borrow from £40,000 at 95% loan-to-value. A fee of £150 is payable upfront. An incentive package of free valuation and £250 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit will be intrigued by the latest update from Monmouthshire Building Society. Priced at 2.99%, this discounted variable rate mortgage improves its position within the moneyfacts.co.uk Best Buys. With the addition of a great incentive package, including £250 cashback, this deal is likely to be a good option for cash-strapped borrowers.

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

NatWest

NatWest has reduced the rate of its two-year fixed rate mortgage, which is now priced at 3.63% to 31.7.20. This deal is for first and second-time buyers who wish to borrow between £25,000 and £570,000 at 95% loan-to-value. No fee is payable. This deal allows overpayments of up to 10% of the outstanding balance.

The 3.63% two-year fixed rate from NatWest is reasonably competitive and sits comfortably in the market. The lack of fee makes this deal more attractive to applicants looking to borrow with a high street lender.

NatWest's lending area includes Scotland.

Credit Cards

Post Office Money

Post Office Money has reviewed the deal on its Matched Mastercard Credit Card. The deal now offers 25 months of interest-free purchases and balance transfers. An introductory balance transfer fee of 2.89% is payable. Purchases after the introductory deal expires will be charged at 19.9% APR. Customers must be 18 and over and have a minimum income of £8,000. Applications can be made by telephone and online.

Borrowers looking for the best of both worlds will be intrigued by Post Office Money's Matched Mastercard Credit Card. Offering an introductory 25-month interest-free term for both purchases and balance transfers, this deal heads straight into the Moneyfacts.co.uk Best Buys. As always, borrowers will need to ensure they pay off the balance in full before the end of the deal period.



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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