Moneyfacts Weekly Product News 14/03/2019 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News 14/03/2019

Moneyfacts Weekly Product News 14/03/2019

Category: Articles
Author: Nigel Woollsey
Date: 14/03/2019

Savings


Paragon Bank

Paragon Bank has launched a new limited edition easy access ISA, which pays 1.45% on its anniversary. A monthly option paying 1.44% is also available. Savers can invest from £1 and early access to funds and further additions are allowed without a penalty. Transfers in from cash ISAs and stocks and shares ISAs are also permitted. This deal, which must be opened and managed online, is for savers aged 18 or over.

Savers searching for a fuss-free easy access ISA will find this new deal from Paragon Bank highly attractive. It enters the Moneyfacts.co.uk Best Buys effortlessly and earns an Excellent product rating in the process. Its appeal is boosted by its low deposit requirement and the fact that it accepts transfers in from other ISAs. As it is a limited edition offer, savers may want to act soon to take advantage.


Shawbrook Bank

Shawbrook Bank has increased the rate on its five-year fixed ISA, which now pays 2.30% on its anniversary. A monthly option paying 2.28% is also available. Savers can invest from £1,000, but further additions are not permitted. Early access to funds is allowed subject to a penalty of 360 days' loss of interest. Transfers in from cash ISAs and stocks and shares ISAs are also permitted upon account opening. This ISA, which must be opened online but can then also be managed by phone, is for savers aged 18 or over.

Significantly improving the rate on offer on its five-year fixed ISA this week is Shawbrook Bank. Now paying 2.30% (+0.17%), the deal takes a prominent place within the Moneyfacts.co.uk Best Buys and earns an Excellent product rating in the process. The ISA also provides a bit of flexibility, subject to an interest penalty, but this may appeal to those savers who need to access their cash earlier than expected.


Mortgages



Sainsbury's Bank

Sainsbury's Bank has reduced selected rates in its range, with its two-year fixed mortgage now priced at 1.79% to 30.6.21. This deal is for first and second-time buyers who wish to borrow from £40,000 at 75% loan-to-value. No fee is payable and an incentive package of free valuation is included. This product allows overpayments of up to 10% of the outstanding balance, as well as underpayments and payment holidays.

The refreshed two-year fixed mortgage from Sainsbury's Bank has improved its overall appeal. Now priced at 1.79%, its rate reduction (of 0.06%) means it secures a place within the Moneyfacts.co.uk Best Buys and earns the highest product rating of Outstanding. House purchase customers looking to save on the upfront cost of their mortgage may be delighted by its incentive package and lack of product fee.
Sainsbury's Bank's lending area includes Scotland.


HSBC

HSBC has reduced the rate on its new three-year fixed rate mortgage, which is now priced at 1.74% to 31.7.22. This deal is for all applicants who wish to borrow at 75% loan-to-value. A product fee of £999 is payable and an incentive package of free valuation is included, while remortgage customers will also get free legal fees. This deal allows overpayments of up to 20% of the mortgage advance.

HSBC has cut the rate on its three-year fixed mortgage this week (by 0.01%), boosting its position in the market. The deal retains its impressive incentive package of free valuation for all borrowers, with remortgage customers offered a free legal fee incentive too. The overall appeal of the deal cements its place within the Moneyfacts.co.uk Best Buys and earns an Excellent product rating in the process.
HSBC'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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