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Moneyfacts Weekly Product News - 15/11/2018

Moneyfacts Weekly Product News - 15/11/2018

Category: Articles
Author: Rachel Springall
Date: 15/11/2018

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

Secure Trust Bank

Secure Trust Bank plc has increased the rate on short-term fixed bonds, with its two-year bond now paying 2.31% yearly until 9.12.20. Savers can invest from £1,000 up to a maximum of £1 million. Additions are allowed while the issue remains open, but early access to funds is not permitted. This deal is for savers aged 18 or over and can be operated online or by phone, but applicants must open the account online.

Climbing the Moneyfacts Best Buy charts this week is Secure Trust Bank's impressive two-year fixed bond, now paying 2.31%. This straightforward bond also earns an Excellent Moneyfacts product rating and, unlike other fixed bonds in the market, it allows further additions while the issue remains open.

Post Office Money

Post Office Money has increased the rate on its Online Saver easy access account, which now pays 1.45% yearly, although a monthly option paying a slightly lower rate is also available. The yearly rate includes a bonus of 1.20% for 12 months. Savers can invest from £1 and additions and early access are permitted. This deal is for savers aged 18 or over and must be operated and opened online.

Savers looking for instant access to their cash and a bit of an upfront return boost will be delighted by this latest rate rise by Post Office Money. Now paying 1.45%, its Online Saver sits comfortably near the top of the Moneyfacts Best Buys for easy access accounts with a bonus and earns an Excellent Moneyfacts product rating as a result. Applicants would be wise to review the rate before the bonus expires.


Mortgages

Lloyds Bank

Lloyds Bank has reduced the rate on its two-year fixed rate mortgage, which is now priced at 2.73% to 28.2.21. This deal is for remortgage customers who wish to borrow between £100,000 and £249,000 at 80% loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees is included. This product allows overpayments of up to 10% of the outstanding balance.

Borrowers looking to remortgage on the high street will be impressed by this offering from Lloyds Bank. Those hoping to save on the upfront cost of remortgaging will be delighted by its incentive package, which will no doubt entice those who prefer to set up their mortgage in branch.

Lloyds Bank's lending area includes Scotland.


Loans

Admiral

Admiral has significantly reduced the rate on a selected tier of its unsecured personal loan, which means customers can now apply for a personal loan of between £7,500 and £15,000 over a term of one to five years at a rate of 2.7% APR. Applicants must be aged 18 or over and apply online.

Admiral has made a significant reduction to its unsecured personal loan tier of £7,500 to £15,000 over a five-year term this week, securing a top position within the Moneyfacts Best Buys and earning an Outstanding Moneyfacts product rating as a result. Borrowers looking for a larger loan are sure to find this now market-leading rate of 2.7% APR highly appealing.

AA

AA has reduced the rates on selected tiers of its unsecured personal loan, which means customers can now apply for a personal loan of between £5,000 and £7,499 over a term of one to five years at a rate of 3.8% APR. Customers must be aged 21 or over and have a minimum income of £12,000. Applications can be made by telephone or online. A members loan is also available at a discounted rate of 3.7% APR.

This review to AA's unsecured personal loan makes it a more cost-effective choice, charging 3.8% APR for loans of £5,000 to £7,499, and earns an Excellent Moneyfacts product rating as a result. Those customers who are existing members of AA will be eligible for an alternative discounted rate loan at 3.7% APR, which will be great news for loyal customers.

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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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