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Moneyfacts Weekly Product News - 3/1/2019

Moneyfacts Weekly Product News - 3/1/2019

Category: Articles
Author: Rachel Springall
Date: 03/01/2019

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.

Family Building Society

Family Building Society has launched its new Premium Saver, an easy access account that pays 1.45% yearly. Savers can invest from £5,000 up to a maximum of £250,000. Unlimited penalty-free withdrawals are allowed, however, savers must note that additions are only permitted until 13.2.19. This deal can be operated in branch, by post and online.

Savers searching for a simple savings account to start off the new year will be delighted by this latest product launch from Family Building Society. Paying 1.45%, this deal heads straight into the Moneyfacts.co.uk Best Buys and earns an Excellent product rating as a result. As additions are only permitted until 13 February, savers must be sure to have made all their required deposits by this point to avoid disappointment.


Mortgages

Principality Building Society

Principality Building Society has reduced the rate on its five-year fixed rate mortgage, which is now priced at 1.90% to 29.2.24. This deal is for all applicants who wish to borrow between £5,000 and £750,000 at 65% loan-to-value. A fee of £1,395 is payable, all of which can be added to the advance of the mortgage. This product allows overpayments of up to 10% of the outstanding balance.

This five-year fixed mortgage from Principality Building Society has benefitted from a rate reduction (of 0.10%) and places itself as one of the lowest rates in its sector. Borrowers looking for a competitive rate to lock into over the next five years will find this deal highly appealing, particularly as the product fee can be added to the advance.

Principality Building Society's lending area does not include Scotland.


Halifax

Halifax has reduced the rate on its two-year fixed rate mortgage, which is now priced at 2.09% 28.2.21. This deal is for first and second-time buyers who wish to borrow from £25,000 at 85% loan-to-value. No product fee is payable and overpayments of up to 10% of the outstanding balance are permitted.

Borrowers hunting a competitive mortgage rate with a high-street brand will find this latest rate reduction by Halifax intriguing. Now priced at 2.09%, the deal has had a hefty rate reduction (of 0.39%), further adding to its overall appeal. While there is no incentive package, the deal has no product fee and therefore sits as one of the lowest rate deals within its sector.

Halifax'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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