Pick of the week - 130815

Thursday, 13 August 2015

The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.

Savings

Aldermore

Aldermore has increased the rate of its two-year fixed rate bond, which now pays 2.35% upon its anniversary or 2.33% monthly. Savers must invest from £1,000 up to a maximum of £1 million. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated by post, by telephone and online.

This 2.35% two-year fixed rate bond is highly competitive and sits towards the top of the market. This Best Buy rate is great for anyone looking to maximise their interest over the shorter term; however, with no early access to funds, savers will need to be happy locking their money away.


Kent Reliance

Kent Reliance has launched High Balance Easy Access Issue 2 to its range, which pays a variable rate of 1.55% yearly or 1.54% monthly. Savers must invest from £20,000 up to a maximum of £1 million. Additions and unlimited penalty-free withdrawals are permitted. This deal can be operated in branch, by post, by phone and online.

Savers with a balance of £20,000 or more who are looking for easy access to their funds will be delighted by this latest launch from Kent Reliance. Paying 1.55%, this deal heads straight into the Moneyfacts.co.uk Best Buys. With unlimited withdrawals, this is a great deal for anyone looking for savings flexibility.


Mortgages

Hanley Economic Building Society

Hanley Economic Building Society has launched a new five-year fixed rate mortgage, which is priced at 4.69% until 2.9.20. This deal is for first and second-time buyers only who borrow between £30,000 and £250,000 at 95% loan-to-value. A fee of £250 is payable upfront. An incentive package of a refunded valuation and a £250 rebate is available. This deal has the added flexibility of allowing borrowers to make overpayments of up to 10% of the outstanding balance.

Borrowers with a modest deposit of 5% will be intrigued by this latest update from Hanley Economic Building Society. Priced at 4.69%, this deal sits towards the top of the market. Accompanying this great rate is a low fee of £250 and a fantastic incentive package, which includes a refunded valuation and a £250 rebate, making this deal a cost-effective choice for many.

Hanley Economic Building Society’s lending area does not include Scotland.


TSB

TSB has reviewed its five-year fixed rate mortgage, which is now priced at 2.59% until 31.10.20. This deal is for remortgage customers who hold a TSB current account who are looking to borrow between £25,000 and £1 million at 60% loan-to-value. No fee is payable and an incentive package of free valuation, free legal fees and a £150 rebate is available. This deal has the flexibility of being able to make overpayments of up to 10% of the outstanding balance and take payment holidays. A TSB current account can be opened when a mortgage application is submitted.

This 2.59% five-year fixed rate from TSB is reasonably priced with the market. With no fee and a great incentive package, this is an attractive option for anyone looking to remortgage with a high street brand.

TSB’s lending area includes Scotland.

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About Moneyfacts

Moneyfacts is the UK’s leading independent provider of personal finance information. For two decades, Moneyfacts’ information has been the key driver behind many personal finance decisions, from the Treasury and the Bank of England to the high street.

Moneyfacts.co.uk is a completely independent comparison site that helps consumers make better financial decisions. Our constantly reviewed Best Buys help people find the best savings rates and credit cards while our mortgage calculator and loan calculator search the whole market to find the best products.

Moneyfacts also supplies Best Buy charts to many of the UK national and regional newspapers, with a total weekly readership in excess of 22,000,000. Our dedicated research experts produce five monthly publications as well as providing real-time news and data services to the majority of banks and building societies. Additional information can be found at www.moneyfactsgroup.co.uk.

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