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Moneyfacts Weekly Product News - 20/09/2018

Moneyfacts Weekly Product News - 20/09/2018

Category: Articles
Author: Charlotte Nelson
Date: 20/09/2018

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

Yorkshire Building Society

Yorkshire Building Society has increased the rate on its Single Access Saver, an easy access account that now pays 1.41% upon its anniversary or 1.40% monthly. Savers can invest from £100 up to a maximum of £2 million. Additions are permitted, however only one withdrawal day is allowed per account year. This deal can be managed in branch, by post and online.

Paying 1.41%, the Single Access Saver from Yorkshire Building Society heads straight to the top of the Moneyfacts.co.uk Best Buys. This attractive rate is likely to prove popular, yet with only one withdrawal day permitted per year, savers will need to plan carefully.

Ford Money

Ford Money has increased the rate on its one-year fixed rate bond, which now pays 2.00% yearly or 1.98%. Savers can invest from £500 up to a maximum of £2 million. Additions are permitted within 14 days of the account opening, but early access to funds is not allowed. This deal is for savers aged 16 or over, and must be operated online.

Savers looking for a fixed home for their savings will be intrigued by this latest increase from Ford Money. Paying 2.00%, this deal sits within the top ten in its sector. However, with no early access to funds, savers will need to be happy with their initial investment.



Mortgages

Yorkshire Bank

Yorkshire Bank has reduced the rate on its three-year fixed rate mortgage, which is now priced at 3.19% to 30.11.21. This deal is for first-time buyers only who wish to borrow up to £500,000 at 95% loan-to-value. No fee is payable and an incentive package of up to £500 cashback is available. This deal allows overpayments.

First-time buyers with a small deposit will be delighted by the latest update from Yorkshire Bank. At 3.19%, this three-year fixed rate deal is currently the lowest in its sector and heads straight into the Moneyfacts.co.uk Best Buys. With the added bonus of no fee and up to £500 cashback on offer, this could be a good choice for borrowers looking to minimise costs.

Yorkshire Bank's lending area includes Scotland.

NatWest

NatWest has reduced the rate on its two-year fixed rate mortgage, which is now priced at 3.35% to 31.12.20. 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 and overpayments of up to 10% of the outstanding balance are allowed.

The 3.35% two-year fixed rate mortgage from NatWest improves its position in the market, now sitting comfortably towards the top of its sector. With no fee payable, this is likely to be a popular choice for anyone with a small deposit looking to borrow with a high street lender.

NatWest's lending area includes Scotland.

Credit Cards

MBNA Limited

MBNA Limited has reviewed its Platinum 33 Month Balance Transfer Credit Card Visa, which now offers 33 months' interest-free balance transfers with an introductory balance transfer fee of 1.99%. Purchases are charged at 19.9% APR. Customers must be 18 or over, and applications can be made by telephone or online.

The 33-month balance transfer card from MBNA Limited is highly competitive in the balance transfer market, retaining its place within the Moneyfacts.co.uk Best Buys. The long introductory balance transfer term makes this product a good choice for any borrower looking to consolidate their debts. However, customers must ensure the debt is paid off before the deal ends to avoid any interest being payable.

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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