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Moneyfacts Weekly Product News - 17/08/2017

Moneyfacts Weekly Product News - 17/08/2017

Category: Articles
Author: Tim Leonard
Date: 17/08/2017

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 It is now over 6 months old so the content may be out of date.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

Moneycorp Bank

Moneycorp Bank has launched a new 90-day notice account, which pays 1.30% monthly. Savers must invest from £10,000 up to a maximum of £1 million. Additions are allowed while the issue remains open. Early access to funds is permitted on 90 days' notice. This deal is for savers who are 18 and over and must be operated online. Moneycorp Bank is protected by the financial compensation scheme in Gibraltar.

Moneycorp Bank launches into the savings market with a 90-day notice account. Paying 1.30%, this deal is highly competitive and heads straight into the moneyfacts.co.uk Best Buys, and is a good choice for anyone looking for a straightforward account.


Bank of Cyprus UK

Bank of Cyprus UK has reviewed its Easy Access account, which now pays 1.20% upon its anniversary including a bonus of 0.60% 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 and over and must be operated online.

Savers looking for easy access to their cash will be interested in this latest update from Bank of Cyprus UK. Paying 1.20%, this deal sits at the top of the moneyfacts.co.uk Best Buys for accounts with a bonus. Given all the flexibility this account provides, it is likely to be a popular option.


Mortgages

Post Office Money

Post Office Money has revamped its two-year fixed rate mortgage, which is now priced at 1.43% to 31.10.19. This deal is for all applicants who wish to borrow from £50,000 at 75% loan-to-value. A fee of £495 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation and £300 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

The 1.43% two-year fixed rate from Post Office Money is highly competitive and makes its mark on the moneyfacts.co.uk Best Buys. With the addition of a low fee and a great incentive package, including £300 cashback, this is likely to be an attractive deal for those looking to keep initial costs down.

Post Office Money's lending area includes Scotland.

NatWest

NatWest has reduced the rate on its two-year fixed rate mortgage, which is now priced at 3.95% to 30.11.19. 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.

Borrowers with a small deposit of 5% looking for a high street lender will be intrigued by this latest reduction from NatWest. Now offering a rate of 3.95%, this deal is reasonably priced in the market, and with the addition of no fee this could be a cost-effective choice.

NatWest's lending area includes Scotland.

Credit Cards

MBNA

MBNA has launched a new Platinum 39-month Balance Transfer Credit Card Visa. This deal offers 39 months interest-free for balance transfers, whereby an introductory balance transfer fee of 1.48% is payable. It also offers 20 months interest-free on money transfers, whereby an introductory money transfer fee of 4.00% is payable. Purchases are charged at 18.9% APR. Customers can apply by telephone or online.

Offering 39 months interest-free for balance transfers, this deal heads straight into the moneyfacts.co.uk Best Buys. With the addition of 20 months interest-free for money transfers, this deal is not only a great choice for those looking for a bit of breathing space, but for those looking to credit their bank account as well.

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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