Moneyfacts Weekly Product News - 22/03/2018 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 22/03/2018

Moneyfacts Weekly Product News - 22/03/2018

Category: Articles
Date: 22/03/2018

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

OakNorth Bank

OakNorth Bank has reviewed the rate on its 12-month cash ISA, which now pays 1.47% monthly. Savers can invest from £1,000. Additions are permitted within 30 days of the account opening, early access to funds is also allowed, subject to a penalty of 90 days' loss of interest. Transfers in from other cash ISAs are also permitted. This deal is for savers aged 18 and over, which can be operated by telephone and online.

Short-term ISA savers will be interested in this latest update from OakNorth Bank. Paying 1.47%, this deal is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. The extra flexibility of being able to access funds, albeit at 90 days' loss of interest, will only further increase its appeal.


Shawbrook Bank

Shawbrook Bank has increased the rate on its easy access account that now pays 1.25% upon its anniversary, or 1.24% monthly. Savers can invest from £1,000 up to a maximum of £85,000. Additions and unlimited penalty-free withdrawals are permitted, however, a minimum of £500 must be withdrawn at any time. This deal is for savers aged 18 and over, which can be operated by telephone and online.

The 1.25% easy access account from Shawbrook bank is competitively priced and heads straight into the moneyfacts.co.uk Best Buys. This great rate is likely to be a popular choice for savers looking for quick access to funds. However, savers must be aware that any withdrawals must be of £500 or more.


Mortgages

Nationwide Building Society

Nationwide Building Society has reduced the rate on its two-year variable tracker rate mortgage, which is now priced at 1.19%. This deal is for all applicants who wish to borrow between £25,000 and £1 million, at 60% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. It comes with an incentive package of a free valuation for all borrowers, £500 cashback for first-time buyers, and a choice of £500 cashback or free legal fees for remortgage customers. This deal also allows overpayments.

The 1.19% two-year variable tracker rate from Nationwide Building Society heads straight to the top of the market. With a great incentive package that includes £500 cashback for selected customers, this is likely to be a popular choice for borrowers looking for a recognised brand.

Nationwide Building Society's lending area includes Scotland.

Leeds Building Society

Leeds Building Society has reviewed the rate on its five-year fixed rate mortgage, which is now priced at 2.44% to 30.6.23. This deal is for all applicants who wish to borrow between £80,000 and £500,000 at 75% loan-to-value. No fee is payable, plus an incentive package of a free standard valuation of up to £999 and £1,000 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers looking for a longer-term fixed rate will be intrigued by this latest offer from Leeds Building Society. At 2.44%, this deal is reasonably priced in the market, alongside the added bonus of no fee and a fabulous incentive package that includes £1,000 cashback. This deal is likely to be a great choice for those looking to minimise any upfront costs.

Leeds Building Society's lending area includes Scotland.

Credit Cards

MBNA Limited

MBNA Limited has tweaked its Platinum 32 Month Balance Transfer Credit Card, which now offers 32 months of interest-free balance transfers. An introductory balance transfer fee of 1.15% is payable. This card also offers 24 months of interest-free money transfers, for which an introductory money transfer fee of 4.0% is payable. Purchases are charged at 19.9% APR. Customers must be over 18, and can apply by phone and online.

The 32 month Platinum Balance Transfer Credit Card from MBNA Limited is likely to be a decent choice for anyone looking to spread the cost of their debts relatively cheaply. However, borrowers will need to ensure they pay off the balance in full before the end of the deal period.



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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