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Moneyfacts Weekly Product News - 15/06/2017

Moneyfacts Weekly Product News - 15/06/2017

Category: Articles
Date: 15/06/2017

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 It is now over 6 months old so the content may be out of date.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

Charter Savings Bank

Charter Savings Bank has launched into the ISA market with a range of products, including an easy access cash ISA which pays 1.06% on its anniversary or 1.05% monthly. Savers must invest from £1,000. Additions and unlimited penalty-free withdrawals are allowed. Transfers in from cash and stocks & shares ISAs are also permitted. This deal is for savers aged 18 and over and must be operated online.

Charter Savings Bank has launched into the cash ISA market with a bang. As a result, its easy access ISA paying 1.06% heads straight to the top of its sector and into the moneyfacts.co.uk Best Buys. Its great rate will make this an attractive option for those looking to kick-start their ISA savings habit.


Wesleyan Bank

Wesleyan Bank has increased the rate on its three-year fixed rate bond, which now pays 1.89% upon its anniversary. Savers must invest from £1,000 up to £250,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and must be operated online.

Paying 1.89%, this three-year fixed rate deal from Wesleyan Bank is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. This is likely to be a great choice for anyone looking to maximise their interest. However, with no early access to funds, savers must ensure they have enough left over for life's little emergencies.


Mortgages

Yorkshire Building Society

Yorkshire Building Society has reduced the rate on its three-year fixed rate mortgage, which is now priced at 1.49% to 31.8.20. This deal is for all applicants who wish to borrow between £25,001 and £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 £250 cashback for all borrowers is available. The deal allows overpayments of up to 10% of the outstanding balance.

Borrowers looking for a long-term fixed rate for some peace of mind will be delighted by this latest update from Yorkshire Building Society. Priced at 1.49%, this deal is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. With the additional incentive of £250 cashback, this is likely to be a popular choice for those with the required 25% deposit.

Yorkshire Building Society's lending area includes Scotland.

Sainsbury's Bank

Sainsbury's Bank has reduced the rate on its five-year fixed rate mortgage, which is now priced at 2.14% to 31.10.22. This deal is for all borrowers who wish to borrow from £40,000 at 85% loan-to-value. A fee of £995 is payable, all of which can be added to the mortgage advance. An incentive package of free valuation for all borrowers and free legal fees for remortgage customers is available. This deal allows overpayments of up to 10% of the outstanding balance. Successful mortgage applicants will also be eligible to receive 5% of grocery bills back in vouchers for two years.

The 2.14% five-year fixed rate from Sainsbury's Bank sits just shy of the market leader in its sector. Alongside this great rate it offers a decent incentive package, making this a fantastic choice for borrowers.

Sainsbury's Bank's lending area includes Scotland.

Credit Cards

Halifax

Halifax has amended its low fee balance transfer credit card, which now offers 32 months interest-free for balance transfers. An introductory balance transfer fee of 0.70% is payable. The card also offers interest-free purchases for 12 months, thereafter purchases will be charged at 18.9% APR. To be eligible for this deal, customers must be 18 or over. Customers can apply by phone and post.

Anyone looking to consolidate their debts cheaply will be interested in this latest update by Halifax. With the combination of 32 months interest-free for balance transfers and a low fee of 0.70%, this deal could be a cost-effective option for many. However, borrowers must aim to pay off the balance in full before the deal ends to ensure no interest is charged.

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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