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Moneyfacts Weekly Product News - 23/11/2017

Moneyfacts Weekly Product News - 23/11/2017

Category: Articles
Author: Tim Leonard
Date: 23/11/2017

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 It is now over 6 months old so the content may be out of date.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

PCF Bank

PCF Bank has launched a new 100-day notice account, which pays 1.45% upon its anniversary. Savers can invest from £1,000 up to a maximum of £250,000. Early access to funds is permitted subject to 100 days' notice being given. This deal is for savers aged 18 and over and can be operated by post, over the phone and online.

The 1.45% 100-day notice account from PCF Bank is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. Given its great rate, this is likely to be a popular choice for savers looking for a straightforward account, however, they need to bear in mind that a lengthy 100 days' notice will need to be given before access to funds is permitted.


Post Office Money

Post Office Money has launched a new easy access account which pays 1.22% yearly including a 0.97% bonus for 12 months or 1.21% monthly including a 0.96% bonus for 12 months. Savers can invest from as little as £1 up to a maximum of £2 million. Additions and unlimited penalty-free withdrawals are permitted. This deal is for savers aged 18 and over and must be operated online.

Savers looking for easy access to their savings will be delighted by this latest launch from Post Office Money. Paying 1.22%, this deal is highly competitive and heads straight into the moneyfacts.co.uk Best Buys, making this an attractive option for many. However, savers will need to review the rate before the bonus period expires to ensure competitive returns are maintained.



Mortgages

Sainsbury's Bank

Sainsbury's Bank has reduced the rate on its two-year fixed rate mortgage, which is now priced at 1.39% to 31.3.20. This deal is for all applicants who wish to borrow from £40,000 at 80% loan-to-value. A fee of £745 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation for all borrowers and free legal fees for remortgage customers is available. Successful mortgage applicants will also be eligible to receive 5% of grocery bills back in vouchers for two years. This deal allows overpayments of up to 10% of the outstanding balance.

The 1.39% two-year fixed rate from Sainsbury's Bank is highly competitive, sitting in the top five of deals in its sector and entering the moneyfacts.co.uk Best Buys as a result. Complementing this great rate is a reasonable fee and a decent incentive package, making this a cost-effective deal for many borrowers.

Sainsbury's Bank's lending area includes Scotland.

Leeds Building Society

Leeds Building Society has launched a new five-year fixed rate mortgage, which is now priced at 2.09% to 31.1.23. This deal is for all applicants who wish to borrow up to £500,000 at 80% loan-to-value. A fee of £1,999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation is available, and this deal allows overpayments of up to 10% of the outstanding balance.

Leeds Building Society's new five-year fixed rate mortgage, priced at 2.09%, sits comfortably towards the top of the market. The added benefit of free valuation will make this deal an option many are likely to consider.

Leeds Building Society's lending area includes Scotland.

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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