Pick of the week - 270815

Thursday, 27 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.


Kent Reliance

Kent Reliance has increased the rate on its 60-day notice deal, which now pays 1.60% yearly or 1.59% monthly. Savers must invest from £1,000 up to a maximum of £1 million. Withdrawals are permitted subject to 60 days’ notice being given and additions can be made at anytime. This deal can be operated in branch, by post and online.

The 60-day notice account paying 1.60% from Kent Reliance is highly competitive and sits comfortably within the top 10 of the market. This deal is a great choice for those who are looking for a straightforward savings account; however, savers will need to budget carefully to ensure that they abide by the 60-day notice period.

Julian Hodge Bank

Julian Hodge Bank has increased the rate on its one-year fixed rate cash ISA, which now pays 1.80% yearly on a minimum investment of £5,000. Additions are not permitted, but early access is allowed subject to closure of the account and a penalty. Transfers in from both cash and stocks & shares ISAs are accepted. This deal is for savers aged 16 and over and can be operated in branch, by phone or by post.

Savers looking for a tax-free home for their savings will be delighted by this latest launch from Julian Hodge Bank. Paying 1.80%, this one-year fixed rate shoots straight into the Moneyfacts.co.uk Best Buys. With the extra flexibility of early access, this is likely to be a popular choice for investors seeking an account for the shorter term.


West Brom Building Society

West Brom Building Society has amended its three-year fixed rate deal, which is now priced at 2.19% until 30.11.18. This deal is for first and second-time buyers only who borrow between £40,000 and £750,000 at 80% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation (max £445) is available. This deal also has the flexibility to make overpayments.

This 2.19% three-year fixed rate from West Brom Building Society is highly competitive and sits comfortably among the top five deals in its sector. With a reasonable fee and a good incentive package, it is little wonder that this deal will be a popular choice for many.

West Brom Building Society’s lending area does not include Scotland.

Loughborough Building Society

Loughborough Building Society has launched a new two-year fixed rate mortgage, priced at 2.49%. This deal is for all applicants who borrow between £25,000 and £350,000 at 90% loan-to-value. A fee of £599 is payable, of which £100 is payable upfront. This deal has the flexibility of being able to make overpayments of up to 10% of the outstanding balance.

Borrowers with a modest deposit of 10% will be delighted by the latest launch from Loughborough Building Society. Priced at 2.49%, this deal heads straight into the Moneyfacts.co.uk Best Buys. With a low fee of £599, this deal is likely to be a cost-effective option for many.

Loughborough Building Society’s lending area does not include Scotland.

Credit Cards

Clydesdale Bank

Clydesdale Bank has lengthened its introductory deal on its Gold MasterCard, which now has a 26-month interest-free term for purchases. Purchases after the initial deal expires will then be charged at 18.9% APR. A 12-month interest-free balance transfer term is also available. This carries a fee of 3.00% (min £3.00).

This latest update from Clydesdale Bank sees the Gold MasterCard offer the longest ever 0% deal for introductory purchases, heading straight to the top of the Moneyfacts.co.uk Best Buys as a result. This is a great choice for those planning a large purchase who are looking for an extra bit of breathing space. 

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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.

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