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Moneyfacts Weekly Product News - 19/07/2018

Moneyfacts Weekly Product News - 19/07/2018

Category: Articles
Author: Lieke Braadbaart
Date: 19/07/2018

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

ICICI Bank UK

ICICI Bank UK has increased the rate on its one-year fixed rate bond, which now pays 1.95% on maturity or 1.93% monthly. Savers can invest from £1,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 or over and must be operated online.

Internet savers will be delighted by this latest increase from ICICI Bank UK. Now paying 1.95%, this deal heads straight into the Moneyfacts.co.uk Best Buys. With a decent rate, this is likely to be a popular choice for any saver looking to invest over the shorter term.

Hampshire Trust Bank

Hampshire Trust Bank has increased the rate on its three-year fixed rate bond, which now pays 2.35% upon its anniversary. Savers can invest from £1,000 up to a maximum of £250,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 or over and can be operated by post, by telephone and online.

Hampshire Trust Bank's three-year fixed rate bond is highly competitive, paying 2.35%, meaning this deal sits comfortably towards the top of the Moneyfacts.co.uk Best Buys. However, with no early access to funds, savers must be happy with their initial deposit and the term from the outset.


Mortgages

Barclays Mortgage

Barclays Mortgage has reduced the rate on its five-year fixed rate mortgage, which is now priced at 2.24% to 31.10.23. This deal is only for remortgage customers who wish to borrow between £50,000 and £500,000 at 75% loan-to-value. No fee is payable and incentives of free valuation, free legal fees and £250 cashback are available. This deal allows overpayments of up to 10% per year.

Remortgage customers will be intrigued by the latest update from Barclays Mortgage. Priced at 2.24%, this deal sits comfortably in the market. Borrowers will also be able to benefit from the lack of fee and a great incentive package, including £250 cashback, which will make this an attractive option for many remortgage customers looking to borrow with a high street lender.

Barclays Mortgage's lending area includes Scotland.


Furness Building Society

Furness Building Society has launched a new two-year fixed rate mortgage, priced at 2.39%. This deal is for all applicants who wish to borrow from £30,000 at 80% loan-to-value. A fee of £1,250 is payable, all of which can be added to the advance of the mortgage. An incentive package for remortgage customers of free valuation and the option of free legal fees or £150 towards legal costs is available. This deal allows overpayments of up to 10% of the mortgage advance.

Furness Building Society's 2.39% two-year mortgage is reasonably priced for its terms. With the added bonus of a comprehensive incentive package for remortgage customers, this could be a great option for anyone looking to keep costs to a minimum.

Furness Building Society's lending area includes Scotland.

Loans

Sainsbury's Bank

Sainsbury's Bank has reviewed selected tiers of its unsecured personal loan, which means customers can now apply for a personal loan of £5,000 to £7,499 over a term of one to three years at a rate of 3.2% APR. Customers must be aged 18 or over, have a minimum income of £7,500 per year and be a Nectar cardholder. Applications can be made by telephone and online.

The 3.2% rate from Sainsbury's Bank sees this deal become one of the most competitive in its sector, heading straight to the top of the Moneyfacts.co.uk Best Buys. As a result, this is likely to be a popular choice for anyone looking to borrow over the shorter term.

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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