Moneyfacts Weekly Product News - 26/07/2018 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News - 26/07/2018

Moneyfacts Weekly Product News - 26/07/2018

Category: Articles
Author: Lieke Braadbaart
Date: 26/07/2018

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

Coventry Building Society

Coventry Building Society has increased the rate on its Limited Access Saver, an easy access account that now pays 1.40% upon its anniversary or 1.39% monthly, including a bonus of 0.40% for 12 months. Savers can invest from as little as £1 up to a maximum of £250,000. Additions are permitted, and three penalty-free withdrawals are allowed, with any further withdrawals subject to a penalty of 50 days' loss of interest. This deal is for savers aged 16 or over and can be operated by telephone and online.

Savers looking for quick access to funds will be intrigued by this latest update from Coventry Building Society. Paying 1.40%, this deal heads straight to the top of the bonus market and earns the leading position within the Moneyfacts.co.uk Best Buys as a result. This great rate is likely to make it a popular option, however savers will have to review the rate before the bonus period expires to ensure competitive returns are maintained.

Hampshire Trust Bank

Hampshire Trust Bank has increased the rate on its one-year fixed rate bond, which now pays 2.10% on maturity. Savers can invest from £1,000 up to a maximum of £250,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 or over and can be operated by post, by telephone and online.

The increase to the Hampshire Trust Bank's one-year fixed rate bond sees this deal storm to the top of the Best Buy charts. Paying a great rate of 2.10%, this deal will likely be an attractive option for savers looking for a short-term home for their cash.

Mortgages

Sainsbury's Bank

Sainsbury's Bank has reviewed the rate of its two-year fixed rate mortgage, which is now priced at 2.10% to 30.9.20. This deal is for first and second-time buyers who wish to borrow from £40,000 at 90% loan-to-value (LTV). No fee is payable and an incentive package of free valuation and £250 cashback is available. Successful mortgage applicants will also be eligible to receive ongoing cashback, in the form of 5% off their grocery bills in vouchers, for the first two years. This deal allows overpayments of up to 10% of the outstanding balance.

Borrowers with a modest deposit of 10% will be interested in this latest product update from Sainsbury's Bank. Priced at 2.10%, this deal is highly competitive and retains its position within the Moneyfacts.co.uk Best Buys. With the added bonus of no fee and a great incentive package including £250 cashback, this is likely to be a cost-effective option for many borrowers.

Sainsbury's Bank's lending area includes Scotland.

Post Office Money

Post Office Money has reduced the rate on its two-year fixed rate mortgage, which is now priced at 3.39% to 30.9.20. This deal is for first and second-time buyers who wish to borrow from £50,000 at 95% LTV. No fee is payable and an incentive package of free valuation fees and £400 cashback is available. This deal allows overpayments of up to 10% of the outstanding balance.

Post Office Money's 3.39% two-year fixed rate mortgage is reasonably priced in its sector. With no fee and £400 cashback available, this is a great option for borrowers with a small deposit who are looking for a recognised brand.

Post Office Money'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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