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Moneyfacts Weekly Product News - 21/09/2017

Moneyfacts Weekly Product News - 21/09/2017

Category: Articles
Date: 21/09/2017

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

Close Brothers Savings

Close Brothers Savings has increased the rate on its five-year fixed rate bond, which now pays 2.40% upon its anniversary. Savers must invest from £10,000 up to a maximum of £2 million. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and must be operated by post.

Savers looking for a long-term home for their savings will be interested in the latest update from Close Brothers Savings. Paying 2.40% this deal sits comfortably in the five-year and over moneyfacts.co.uk Best Buys. However, with no early access facility, savers must ensure they have enough funds left over for life's little emergencies.


Milestone Savings

Milestone Savings has increased the rate on its 95-day notice account, which is now priced at 1.52% yearly or 1.51% monthly. Savers can invest from £1,000 up to a maximum of £1 million. Additions are allowed and withdrawals are permitted provided 95 days' notice is given. This deal is for savers aged 18 and over and must be operated online. This provider operates under Islamic finance principles, which means the rate shown is the expected profit rate.

Paying 1.52%, this deal from Milestone Savings is highly competitive and heads straight for the moneyfacts.co.uk Best Buys. With such a great rate this deal is likely to be an attractive option for savers looking for a straightforward account in which to invest their cash.


Mortgages

Monmouthshire Building Society

Monmouthshire Building Society has launched a new five-year fixed rate mortgage, priced at 1.55%. This deal is for remortgage customers only who wish to borrow from £30,000 at 65% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation and free legal fees is available. This deal allows overpayments of up to 10% of the outstanding balance.

Remortgage customers with a substantial deposit will be delighted by this latest launch from Monmouthshire Building Society. Priced at 1.55% for five years, this deal enters the market as the lowest in its sector and heads straight into the moneyfacts.co.uk remortgage Best Buys. The added bonus of free valuation and free legal fees is likely to make this an attractive option for many.

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

West Brom Building Society

West Brom Building Society has reduced the rate on its two-year discounted variable rate mortgage, which is now priced at 2.09% to 31.10.19. This deal is for first and second-time buyers who wish to borrow from £40,000 at 90% loan-to-value. No fee is payable and an incentive package of free valuation and £1,000 cashback is available. This deal has the flexibility of permitting up to £999 every month.

The 2.09% two-year discounted variable rate mortgage from West Brom Building Society is highly competitive and cements itself in the moneyfacts.co.uk Best Buys. With no fee and a £1,000 cash rebate on offer, borrowers with a modest deposit of 10% are likely to find this a cost-effective option.

West Brom Building Society's lending area does not include Scotland.

Credit Cards

AA

AA has amended the introductory offer on its Dual Credit Card MasterCard. This deal now offers an introductory 30-month interest-free for purchases and 12 months of interest-free balance transfers. An introductory balance transfer fee of 2.70% is payable. Purchases after the initial deal has expired are charged at 18.9% APR. Customers must be 18 and over and have a minimum income of £8,000. Customers can apply online.

With an introductory 30-month interest-free term for purchases, this card from AA earns its place in the moneyfacts.co.uk Best Buys. The long introductory term will make this an excellent choice for anyone looking to spread the cost of a larger purchase, but as always borrowers should aim to pay off the balance in full before the deal expires.

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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