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Moneyfacts Weekly Product News - 20/07/2017

Moneyfacts Weekly Product News - 20/07/2017

Category: Articles
Author: Tim Leonard
Date: 20/07/2017

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 It is now over 6 months old so the content may be out of date.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

Yorkshire Bank

Yorkshire Bank has increased the rate on its three-year fixed rate bond, which now pays 2.04% on maturity or 2.00% on its anniversary. Savers must invest from £2,000 up to a maximum of £5 million. Additions and early access to funds are not permitted. This deal is for savers aged 16 and over and can be operated in branch, by post, by telephone and online.

Yorkshire Bank's 2.04% three-year fixed rate bond is highly competitive. Heading straight to the moneyfacts.co.uk Best Buys, this deal is likely to be a popular choice for savers looking to maximise their interest. However, with no early access to funds allowed, savers need to make sure they are happy with their initial deposit.


Axis Bank UK

Axis Bank UK Ltd has increased the rate on its two-year fixed rate bond, which now pays 1.90% on maturity or 1.88% monthly. Savers can 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 fixed home for their savings will be delighted by this latest update from Axis Bank UK Ltd. Paying 1.90%, this deal heads straight into the moneyfacts.co.uk Best Buys. However, with no early access to funds, savers must ensure they have enough funds left over for life's little emergencies.


Mortgages

Leeds Building Society

Leeds Building Society has launched a new two-year fixed rate mortgage, priced at 2.00% to 30.9.19. This deal is for remortgage customers only who want to borrow between £25,001 and £500,000 at 75% loan-to-value. No fee is payable and an incentive package of free valuation up to £999 and £250 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

The new 2.00% two-year fixed rate deal from Leeds Building Society is reasonably priced in the market. With the added bonus of no fee and a great incentive package including £250 cashback, this is likely to be popular among those looking to remortgage with minimal costs.

Leeds Building Society's lending area includes Scotland.

Hanley Economic Building Society

Hanley Economic Building Society has launched a new two-year discounted variable rate mortgage, priced at 0.99% (3.95% discount). This deal is for applicants who wish to borrow between £30,000 and £500,000 at 70% loan-to-value. A fee of £1,900 is payable, of which £1,650 can be added to the mortgage advance. An incentive package of free valuation up to £260 for all borrowers and free legal fees up to £250 for those remortgaging is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers looking for a low rate will be intrigued by this latest launch from Hanley Economic Building Society. At 0.99%, this two-year discounted variable rate enters the market as the lowest deal in its sector. Alongside this great rate sits a decent incentive package, making this a product many will likely consider.

Hanley Economic Building Society's lending area does not include Scotland.

Credit Cards

Sainsbury's Bank

Sainsbury's Bank has increased the rate on its Dual Offer Credit Card MasterCard. This deal offers 30 interest-free months for both introductory purchases and balance transfers. An introductory balance transfer fee of 2.74% is payable. Purchases after the introductory offers have expired are charged at 18.9% APR. To be eligible for this deal, customers must be 18 or over. Customers can apply by telephone and online.

Anyone looking to make a large purchase and spread the cost will be interested in this latest update from Sainsbury's Bank. Offering 30 months interest-free for purchases as well as balance transfers, this deal improves its position in the moneyfacts.co.uk Best Buys. However, borrowers must aim to pay off the balance in full before the deal ends to ensure no interest is charged.

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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