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Moneyfacts Weekly Product News - 21/06/2018

Moneyfacts Weekly Product News - 21/06/2018

Category: Articles
Author: Lieke Braadbaart
Date: 21/06/2018

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

Union Bank of India (UK) Ltd

Union Bank of India (UK) Ltd has increased the rate on its two-year fixed rate bond, which now pays 2.13% on maturity. Savers can invest from £1,000 up to a maximum of £340,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 or over, and can be operated in branch and by post.

Savers looking for a short-term fixed rate may find the two-year bond from Union Bank of India (UK) Ltd appealing. Paying 2.13%, this deal heads straight into the Moneyfacts.co.uk Best Buys. However, with additions and early access to funds not permitted, savers must be happy with their initial deposit.

Secure Trust Bank

Secure Trust Bank has increased the rate on its 180-day notice account, which now pays 1.77% quarterly. Savers can invest from £1,000 up to a maximum of £1 million. Additions are allowed and access to funds is permitted if 180 days' notice is given. This deal is for savers aged 18 or over, and can be operated by telephone and online.

Paying 1.77%, the 180-day notice account from Secure Trust Bank is highly competitive, securing the top position in the Moneyfacts.co.uk Best Buys as a result. Given its great rate, this is likely to prove a popular option among savers looking for a straightforward account.

Mortgages

Mansfield Building Society

Mansfield Building Society has launched a new three-year discounted variable rate mortgage, priced at 1.89% (3.70% discount). This deal is for all applicants who wish to borrow between £25,000 and £500,000 at 80% loan-to-value. A fee of £499 is payable, all of which must be paid upfront. An incentive package of free valuation for all borrowers and free legal fees for remortgage customers is available. This deal allows overpayments of up to 10% of the mortgage advance.

The 1.89% three-year discounted variable rate is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys for remortgage customers. The bonus of a great incentive package is likely to make this an attractive choice for those looking for a cost-effective option.

Mansfield Building Society's lending area does not include Scotland.

Leeds Building Society

Leeds Building Society has reduced the rate on its five-year fixed rate mortgage, which is now priced at 2.14% to 31.8.23. This deal is for all applicants who wish to borrow at 65% loan-to-value. No fee is payable, and an incentive package of free valuation (max £999) for all borrowers and help towards mortgage costs for remortgage customers is also included. This deal allows overpayments of up to 10% of the outstanding balance.

This latest reduction from Leeds Building Society sees the newly priced 2.14% five-year fixed rate mortgage head straight into the top ten for its sector. Borrowers will also benefit from no fee and a decent incentive package, making this an attractive option for borrowers with the required 35% deposit.

Leeds Building Society's lending area includes Scotland.


Credit Cards

Sainsbury's Bank

Sainsbury's Bank has tweaked the deal on its Dual Offer Credit Card Mastercard, which now offers 26 months for both introductory purchases and balance transfers. An introductory balance transfer fee of 3.00% is payable. After the introductory term expires, standard purchases are charged at 19.9% APR. Customers must be at least 18 years old and can apply by phone or online.

This latest update from Sainsbury's Bank sees its interest-free credit card retain its place within the Moneyfacts.co.uk Best Buys. Offering 26 months interest-free for purchases as well as balance transfers, this is a great choice for any borrower looking for some breathing space when buying a larger item, while also offering them the option to consolidate card debt.

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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