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Moneyfacts Weekly Product News - 24/08/2017

Moneyfacts Weekly Product News - 24/08/2017

Category: Articles
Date: 24/08/2017

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 It is now over 6 months old so the content may be out of date.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

Virgin Money

Virgin Money has launched Double Take E-Saver, an easy access account which pays 1.21% yearly or 1.20% monthly. Savers can invest from as little as £1 up to a maximum of £250,000. Additions are permitted and two penalty-free withdrawals are allowed per year. This deal is for savers aged 16 and over and must be managed online.

The new easy access account paying 1.21% from Virgin Money is highly competitive and heads straight into the moneyfacts.co.uk Best Buys. It is likely to be a great choice for savers looking to kick-start a savings habit. However, savers must ensure they are able to limit themselves to only two withdrawals a year.


Yorkshire Building Society

Yorkshire Building Society has reviewed its two-year fixed rate E-ISA, which now pays 1.30% yearly. Savers can invest from £100. Additions are permitted while the issue remains open, and early access is allowed subject to closure of the account and 120 days' loss of interest. This deal is for savers aged 16 and over and must be operated online.

The 1.30% two-year fixed rate ISA from Yorkshire Building Society is highly competitive and makes its mark on the moneyfacts.co.uk Best Buys. With a great rate and flexibility of early access this is likely to be a popular choice for those looking for a short-term home for their tax-free allowance.


Mortgages

Barclays Mortgage

Barclays Mortgage has added a new two-year fixed rate mortgage to its range which is priced at 1.49% to 31.10.19. This deal is for remortgage customers only who wish to borrow between £50,000 and £500,000 at 60% loan-to-value. No fees are payable and an incentive package of free valuation, free legal fees and £200 cashback is available. This deal allows unlimited overpayments.

The 1.49% two-year fixed rate from Barclays Mortgage is reasonably priced in its sector. With the added bonus of not only no fee but a comprehensive incentive package and unlimited overpayments, this will be an attractive option for remortgage customers looking for a high street lender.

Barclays Mortgage's lending area includes Scotland.

Skipton Building Society

Skipton Building Society has revamped its range, including its two-year fixed rate mortgage which is now priced at 1.79% to 30.11.19. This deal is for first and second-time buyers who wish to borrow at 80% loan-to-value. No fee is payable and an incentive package of free valuation is available. This deal allows overpayments of up to 10% of the outstanding balance.

House purchase customers looking to minimise upfront costs will be intrigued by this latest update from Skipton Building Society. Priced at 1.79%, this two-year fixed deal sits reasonably in its sector and with the added bonus of no fee and free valuation it is a cost-effective option.

Skipton Building Society's lending area includes Scotland.

Credit Cards

Sainsbury's Bank

Sainsbury's Bank has launched a new 39-month Balance Transfer Credit Card MasterCard. This deal offers 39 months interest-free for balance transfers, whereby an introductory balance transfer fee of 2.39% (min £3.00) is payable. The card also offers a three-month interest free purchase deal, thereafter purchases will be charged at 18.9% APR. Customers can apply by telephone or online.

Offering 39 months interest-free for balance transfers, this deal heads straight into the moneyfacts.co.uk Best Buys. This makes it a great choice for those looking to transfer their debt to avoid paying a substantial amount of interest. As always, borrowers should aim to pay off the balance 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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