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Moneyfacts Weekly Product News - 18/01/2018

Moneyfacts Weekly Product News - 18/01/2018

Category: Articles
Date: 18/01/2018

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 It is now over 6 months old so the content may be out of date.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

OakNorth Bank

OakNorth Bank has increased the rate on its easy access cash ISA, now paying 1.25% monthly. Savers can invest from a minimum of £1,000. Unlimited access, further additions and transfers in from other cash ISAs are permitted. This deal is for savers aged 18 and over and must be operated online.

It's positive to see OakNorth Bank improve its cash ISA so much that it now leads in its sector, easily securing a place in the moneyfacts.co.uk Best Buys. Paying 1.25% monthly, this deal is likely to appeal to savers looking to use their ISA allowance or make a transfer from another cash ISA but desire unlimited access to the cash.


Atom Bank

Atom Bank has improved the rates on its fixed rate bonds, with its two-year fixed deal now paying 2.10% on its anniversary or 2.08% monthly. Savers must invest from £50 up to a maximum of £100,000. Early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated using its app.

Atom Bank continues to shine by enhancing its fixed rate bonds, taking a table topping position in the moneyfacts.co.uk Best Buys with its two-year fixed rate option. At 2.10%, this rate is extremely tempting for savers looking to invest over the short-term and who are content to manage their investment via an app.


Mortgages

Leeds Building Society

Leeds Building Society has introduced a new five-year fixed rate mortgage, which is priced at 1.94% to 31.3.23. This deal is for all borrowers who wish to borrow a maximum advance of £500,000 at 65% loan-to-value. A fee of £999 is payable, all of which can be added to the mortgage advance. It also features a free valuation incentive. This deal allows overpayments of up to 10% of the outstanding balance.

The newly launched five-year fixed mortgage from Leeds Building Society offers a competitive rate of 1.94%. Whilst it may not be the lowest rate on the market, the deal allows borrowers to add the product fee to the mortgage advance and offers a free valuation, which could benefit those looking to keep initial costs down.

Leeds Building Society's lending area includes Scotland.

Credit Cards

Santander

Santander has improved it's All in One Credit Card Mastercard by increasing its introductory 0% purchase deal to 30 months. The card also offers a 0% introductory balance transfer deal for 30 months whereby the balance transfer fee has also been reduced to zero. Purchases outside of the interest-free offer will be charged at 15.9% pa / 21.7% APR, the card charges a £3 monthly fee which is waived for 123 current account holders. The card also offers a cashback incentive.

The significant improvement to the interest-free purchase deal on the All in One Credit Card has given it a huge boost in the market. Shoppers looking to spread the cost of purchases and get some cashback, or even spread any balance transfer debt without incurring a transfer fee will find this card a great package.



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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