Moneyfacts Weekly Product News - 25/01/2018 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 25/01/2018

Moneyfacts Weekly Product News - 25/01/2018

Category: Articles
Date: 25/01/2018

The moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.

Savings

National Counties Building Society

National Counties Building Society has increased the rate on its 3rd Issue Classic Saver, an easy access account now paying 1.31%. Savers must invest from £20,000 up to a maximum of £250,000. Additions are permitted until 23.2.18; however, unlimited access is allowed. This deal can be operated in branch, by telephone and online.

Savers with a larger pot looking for easy access to their funds will find this latest update from National Counties Building Society attractive. Paying 1.31%, this deal heads straight to the top of the moneyfacts.co.uk Best Buys, which should make it a popular option. However, savers will need to remember that they have until 23 February to make any additions into the account.

Masthaven Bank Ltd

Masthaven Bank has reviewed the rate on its 30-month fixed rate bond, which now pays 1.98% on its anniversary, or 1.96% monthly. Savers can invest from £500 up to a maximum of £250,000. Additions are permitted from seven days after opening, via a nominated account, however, early access to funds is not allowed. This deal is for savers aged 18 and over and must be operated online.

Masthaven Bank's 1.98% 30-month fixed rate bond is highly competitive, maintaining its position in the moneyfacts.co.uk Best Buys. This is likely to be an option for those looking to invest online, over the medium term.

Mortgages

Leek United Building Society

Leek United Building Society has reduced its two-year discounted variable rate, which is now priced at 1.45% (3.99% discount) for two years. This deal is for all applicants who wish to borrow from £25,000 at 75% loan-to-value. A fee of £199 is payable upfront, but an incentive package of a free valuation is available. This deal allows overpayments and has no redemption penalty.

At 1.45%, this discounted variable rate for two-years has been competitively priced and heads straight into the moneyfacts.co.uk Best Buys. Borrowers looking for flexibility will be pleased that this product has no penalty for early redemption, unlike many other mortgages, which means that borrowers may be able to exit the mortgage early if they wish.

Leek United Building Society's lending area does not include Scotland.

Santander

Santander has reduced the rate on its two-year fixed rate, which is now priced at 3.89% to 2.5.20. This deal is for house purchase customers only, who wish to borrow between £6,000 and £570,000 at 95% loan-to-value. No fee is payable, plus an incentive of a free valuation up to a maximum of £1,190 and £250 cashback are both available. This deal allows overpayments of up to a maximum of 10% of the outstanding balance.

Borrowers with a 5% deposit will be intrigued by the latest update from Santander. At a rate of 3.89%, this deal is reasonably priced within the market. The addition of no fee and a great incentive package makes this product an option worth considering for those looking for a high street brand.

Santander'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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