Moneyfacts Weekly Product News 31/01/2019 | Product News | moneyfacts.co.uk

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Moneyfacts Weekly Product News 31/01/2019

Moneyfacts Weekly Product News 31/01/2019

Category: Articles
Author: Leanne Macardle
Date: 31/01/2019

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.


SAVINGS


Cynergy Bank

Cynergy Bank has increased the rate on its one-year fixed rate ISA, which now pays 1.73% on its anniversary. Savers can invest from £500 and early access to funds is allowed subject to a penalty of 180 days' loss of interest. Transfers in from cash ISAs and stocks & shares ISAs are also permitted. This account, which must be opened online but can then also be managed in branch, by post and over the phone, is for savers aged 16 or over.

Savers looking to take advantage of their ISA allowance will be delighted by this latest rate rise (of 0.05%) from Cynergy Bank. Paying 1.73%, the deal now sits at the very top of the Moneyfacts.co.uk Best Buys for one-year fixed rate ISAs and earns an Excellent product rating as a result. This ISA also provides a bit of flexibility, as funds can be accessed early, subject to a 180-day loss of interest penalty – ideal for savers who may need their money back sooner than expected.


MORTGAGES


Monmouthshire Building Society

Monmouthshire Building Society has reduced the rate on its five-year fixed rate mortgage, which is now priced at 3.19%. This deal is for house purchase customers who wish to borrow from £40,000 at 95% loan-to-value. No product fee is payable and it also includes an incentive package of free valuation (max property value £1million). This product allows overpayments of up to 10% of the outstanding balance.

The package from Monmouthshire Building Society is likely to turn the heads of both first and second-time buyers thanks to its latest rate cut (of 0.29%). Not only does the deal offer a low rate over five years, but it also carries a great incentive of free valuation and has no product fee – ideal for borrowers looking to save on the upfront cost of a mortgage. Unsurprisingly, the deal takes a place within the Moneyfacts.co.uk Best Buys for first-time buyers and acquires an Outstanding product rating too.

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


Barclays Mortgage

Barclays Mortgage has reduced the rate on its two-year fixed rate mortgage, which is now priced at 2.86% to 30.4.21. This deal is for house purchase customers who wish to borrow at 95% loan-to-value. No product fee is payable and it also includes an incentive package of free valuation. This product allows overpayments of up to 10% of the outstanding balance.

House purchase customers who have a 5% deposit and are searching for a competitive rate package with a high street brand will find this product from Barclays Mortgage highly appealing. Its rate cut (of 0.09%) has boosted the overall appeal of the deal, which includes a free valuation and charges no product fee. It now sits comfortably within the Moneyfacts.co.uk Best Buys for first-time buyers and earns an Outstanding product rating in the process.

Barclays Mortgage'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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