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Moneyfacts Weekly Product News - 19/10/2017

Moneyfacts Weekly Product News - 19/10/2017

Category: Articles
Author: Tim Leonard
Date: 19/10/2017

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 It is now over 6 months old so the content may be out of date.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

Axis Bank UK Ltd

Axis Bank UK Ltd has increased the rate on its two-year fixed rate bond, which now pays 2.05% on maturity or 2.03% monthly. Savers must invest from £1,000 up to a maximum of £200,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated in branch and by post.

Savers looking for a short-term home for their savings will find this latest increase by Axis Bank UK Ltd interesting. Now paying 2.05%, this deal reaffirms its position in the moneyfacts.co.uk Best Buys, making it a popular choice for anyone looking to maximise their interest. However, with no early access to funds, savers must be happy with their initial deposit.


West Brom Building Society

West Brom Building Society has increased the rate on its two-year fixed rate ISA, which now pays 1.45% yearly. Savers can invest from £1,000. Additions are not permitted, but withdrawals are allowed subject to 90 days' notice or 90 days' loss of interest, with the same applying to transfers out. Transfers in from cash and stocks & shares ISAs are welcome. This deal is for savers aged 16 and over and can be opened and operated in branch, by post and by telephone.

The 1.45% two-year fixed rate ISA from West Brom Building Society is highly competitive, sitting comfortably in the moneyfacts.co.uk Best Buys. Its decent rate and flexibility will likely make this deal an attractive choice for ISA investors. Savers looking to gain access to their funds should however remember to give 90 days' notice to avoid any interest penalties.



Mortgages

Yorkshire Building Society

Yorkshire Building Society has launched a new two-year fixed rate mortgage priced at 1.21% to 29.2.20. This deal is for all applicants wishing to borrow from £25,001 up to £5 million at 65% 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 £250 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

The 1.21% two-year fixed rate mortgage from Yorkshire Building Society enters the market as one of the top five lowest rates in its sector. The added bonus of a low fee and a great incentive package which includes £250 cashback sees this deal enter the moneyfacts.co.uk Best Buys.

Yorkshire Building Society's lending area includes Scotland.

Newcastle Building Society

Newcastle Building Society has reduced the rate on its two-year fixed rate mortgage, which is now priced at 2.99% to 28.2.20. This deal is for all applicants wishing to borrow from £10,000 at 90% loan-to-value. No fee is payable and an incentive package of free valuation for all borrowers, £200 cashback for first and second-time buyers, and free legal fees for those remortgaging, is available. This deal allows overpayments of up to £499 per month.

Borrowers with a 10% deposit will be intrigued by this latest update from Newcastle Building Society. At 2.99% this deal is reasonably priced in its sector. With no fee and a comprehensive incentive package, it is likely to be a great choice for those looking to minimise their upfront costs.

Newcastle Building Society's lending area includes Scotland.

Credit Cards

MBNA Limited

MBNA Limited has launched a new 38-month Platinum Balance Transfer Credit Card. This deal offers 38 months interest-free for balance transfers, whereby an introductory balance transfer fee of 1.44% is payable. This card also offers 20 months interest-free on money transfers, for which an introductory money transfer fee of 4.0% is payable. Purchases are charged at 19.9% APR. Customers must be 18 and over and can apply by phone and online.

MBNA Limited's 38-month Platinum Balance Transfer Credit Card is highly competitive, therefore easily entering the moneyfacts.co.uk Best Buys. Not only is this deal one of the longest available in the market today, but it offers the lowest balance transfer fee in the Best Buys, making this a great choice for anyone looking to consolidate their debts with minimal cost.


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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