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Moneyfacts Weekly Product News - 30/11/2017

Moneyfacts Weekly Product News - 30/11/2017

Category: Articles
Date: 30/11/2017

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

Secure Trust Bank

Secure Trust Bank has increased the rate on its five-year fixed bond, which now pays 2.51% yearly. Savers can invest from £1,000 up to a maximum of £1 million. Further additions are permitted while the issue remains open, but earlier access to funds is not permitted. This deal is for savers aged 18 and over and can be operated over the phone and online.

Savers looking for a long-term home for their cash will be delighted by this five-year bond from Secure Trust Bank. The deal sits comfortably towards the top of the moneyfacts.co.uk Best Buys for long-term fixed bonds and is likely to turn heads, but savers must be comfortable tying up their cash for five years.


Yorkshire Building Society

Yorkshire Building Society has launched a new two-year fixed E-ISA paying 1.50% yearly or 1.49% monthly. Savers can invest from £100 and the account allows transfers in from other ISAs. Further additions are allowed while the issue remains open, but early access to funds is subject to a 120-day interest penalty and closure of the account. This deal is for savers aged 16 and over and can be operated online.

Those savers who have yet to make use of their ISA allowance will find this new deal from Yorkshire Building Society a competitive choice. Paying 1.50%, the two-year fixed ISA takes a place in the moneyfacts.co.uk Best Buys and is therefore likely to entice prospective savers.


Mortgages

Post Office Money

Post Office Money has launched a new range of fixed mortgages including a two-year fixed rate offer which is priced at 1.48% to 29.2.20. This deal is for all applicants who wish to borrow from £25,001 at 75% loan-to-value. A fee of £995 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.

Borrowers looking to take advantage of a competitive rate over the short-term may find this new deal from Post Office Money a worthy choice. The deal not only charges a low interest rate, but it also offers a free valuation and allows borrowers to add the product fee to the mortgage advance, saving them cash up-front.

Post Office Money's lending area includes Scotland.

Virgin Money

Virgin Money has reduced the rate on its two-year fixed rate mortgage, which is now priced at 4.09% to 1.4.20. This deal is for first and second-time buyers who wish to borrow at 95% loan-to-value. No product fee is payable, and an incentive package of £300 cashback is available. This deal even allows overpayments of up to 10% of the outstanding balance and permits borrowers to take payment holidays.

First or second-time buyers who have a limited deposit or equity will be intrigued by this latest re-priced deal from Virgin Money. At 4.09%, the deal comes without a product fee and pays £300 cashback as an incentive, which will be useful for borrowers looking to save on upfront costs.

Virgin Money's lending area includes Scotland.

Credit Cards

MBNA Limited

MBNA has launched a new Money Transfer Credit Card Visa. This deal offers 37 months interest-free for money transfers, on which an introductory money transfer fee of 3.45% is payable. An introductory 24 months interest-free for balance transfers is also available, with an introductory balance transfer fee of 3.45%. Purchases are charged at 19.9% APR. Customers must be 18 or over and can apply by telephone or online.

This new 37-month Money Transfer Credit Card Visa will be attractive to those looking to borrow cash for their current account and spread the cost of any debts. The card also has a balance transfer offer, so borrowers can both switch any card debt and credit their bank account at the same time, which could be ideal for paying off an expensive overdraft.

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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