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Moneyfacts Weekly Product News - 16/11/2017

Moneyfacts Weekly Product News - 16/11/2017

Category: Articles
Author: Tim Leonard
Date: 16/11/2017

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 It is now over 6 months old so the content may be out of date.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

Bank of Cyprus UK

Bank of Cyprus UK has increased the rate on its easy access account, which now pays 1.35% upon its anniversary, including a 0.50% bonus for 12 months. Savers can invest from as little as £1 up to a maximum of £1 million. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 18 or over and must be operated online.

Savers looking for quick access to their savings will be intrigued by this latest offer from Bank of Cyprus UK. Paying 1.35%, this deal heads straight to the top of the moneyfacts.co.uk Best Buys, making this a great choice for anyone looking to kick-start a savings habit. However, savers must review the account when the bonus period expires to ensure competitive returns are maintained.


Yorkshire Building Society

Yorkshire Building Society has increased the rate on its one-year fixed rate ISA, which now pays 1.40% yearly or 1.39% monthly. Savers can invest from £100. Additions are permitted while the issue remains open, and early access is allowed subject to closure of the account and 60 days' loss of interest. This deal is for savers aged 16 or over and must be operated in branch.

This latest update from Yorkshire Building Society should make ISA investors sit up and listen. Paying 1.40%, this deal climbs to the top spot of the moneyfacts.co.uk Best Buys, making it a solid choice for those still looking to invest this year's tax free-allowance.



Mortgages

NatWest

NatWest has reduced the rate on its five-year fixed rate mortgage, which is now priced at 1.79% to 28.2.23. This deal is for first and second-time buyers only who wish to borrow between £25,000 and £2 million at 60% 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 is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a large deposit of 40% will be intrigued by this latest update from NatWest. Priced at 1.79%, this deal now sits in the top three of the lowest deals in its sector and is therefore likely to be a popular choice for those looking to borrow from a high street lender.

NatWest's lending area includes Scotland.

Principality Building Society

Principality Building Society has reduced the rate on its two-year fixed rate mortgage, which is now priced at 1.90% to 31.1.20. This deal is for all applicants who wish to borrow between £5,000 and £350,000 at 80% loan-to-value. No fee is payable and an incentive package of 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.

The 1.90% two-year fixed rate from Principality Building Society sits comfortably in the market. With no fee and a great incentive package, this is likely to be an attractive option for borrowers looking to keep initial costs down.

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

Credit Cards

MBNA Limited

MBNA has reviewed its Platinum Balance Transfer Credit Card Visa. This deal now offers 32 months interest-free for balance transfers, on which an introductory balance transfer fee of 0.55% is payable. An introductory 24 months interest-free for money transfers is also available, with an introductory money transfer fee of 4.00%. Purchases are charged at 19.9% APR. Customers must be 18 or over and can apply by telephone or online.

The 32 month Platinum Balance Transfer Credit Card from MBNA Limited is likely to be a decent choice for anyone looking to spread the costs of their debts. With a low introductory balance transfer fee of 0.55%, borrowers opting for this card will be able to consolidate their debts with minimal costs.



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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