Moneyfacts Weekly Product News – 17/01/2019 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News – 17/01/2019

Moneyfacts Weekly Product News – 17/01/2019

Category: Articles
Author: Leanne Macardle
Date: 17/01/2019

SAVINGS

Britannia

Britannia has increased the rate on its select access saver, which now pays 1.40% yearly. Savers can invest from £500 up to a maximum of £1 million, but are restricted to four withdrawals per year (which, if exceeded, will see the rate drop to 0.30%). This deal is available to savers aged 16 or over and can be opened and operated in branch, by phone or online.

Savers searching for a simple easy access account will find the newly priced deal from Britannia appealing. The significant rate rise (of 0.20%) has earned it a place within the Moneyfacts.co.uk Best Buys and an Excellent product rating. Unlike many of the best deals to recently reach the top of the market, this deals rate isn't inflated by a bonus, but savers will need to keep withdrawals restricted to four per year – otherwise the rate will tumble to 0.30%.


Al Rayan Bank

Al Rayan Bank has increased rates on its fixed rate bond range, with its one-year deal now paying an expected profit rate of 2.10% gross on a quarterly basis. Savers can invest from £1,000, but further additions or earlier access is not permitted. This is Sharia'a compliant account can be opened and operated in branch, over the phone, online or by post and savers must be aged 16 or over.

Those savers looking for a decent return but who do not want to tie up their money for too long will find this deal from Al Rayan Bank incredibly attractive. Increasing its rate (by 0.10%), the one-year fixed bond paying 2.10% as an expected profit rate cements itself as a market leader in its sector, comfortably placed within the Moneyfacts.co.uk Best Buys and acquires an Excellent product rating in the process.


MORTGAGES

TSB

TSB has launched new fixed rate mortgages, including a new two-year fixed product priced at 1.94% to 31.3.21. This deal is for remortgage customers who wish to borrow at 90% loan-to-value. A fee of £995 is payable upfront. An incentive package of free valuation and free legal fees is included. This product allows overpayments of up to 10% of the outstanding balance.

Borrowers looking to both remortgage to a low rate and to save on the upfront cost will be delighted by this new deal launched by TSB. Priced at 1.94%, the deal sits just 0.15% of the market-leading rate in its sector, but charges a lower product fee. The incentive package of a free valuation and free legal fees further boosts its appeal.

TSB's lending area includes Scotland.


Coventry Building Society

Coventry Building Society has reviewed the rate on its three-year fixed rate mortgage, which is now priced at 1.89% to 31.3.22. This deal is available for all applicants who wish to borrow at 85% loan-to-value. A product fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation (max £670) for all borrowers and free legal fees for remortgage customers is included. This deal allows overpayments of up to 10% of the outstanding balance.

Preserving a place towards the top of its sector despite a rate rise (of 0.10%) is this three-year fixed deal from Coventry Building Society. Borrowers will find its incentive package highly attractive, particularly if they are looking to remortgage. The deal retains a place within the Moneyfacts.co.uk Best Buys and secured an Excellent product rating in the process.

Coventry Building Society'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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