Pick of the week - 24.9.15

Thursday, 24 September 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

Post Office Money

Post Office Money has increased the rate paid on its Premier Cash ISA (Issue 10), an easy access ISA, which now pays 1.50% yearly including a 0.85% bonus for 18 months. Savers can invest from £100. Two withdrawals are permitted per tax year, after which the account will be closed or transferred. Transfers in from both cash and stocks & shares ISAs are accepted. This deal is for savers aged 16 and over and can be operated by post and telephone.

Savers who have yet to invest in this year’s tax-free allowance will be delighted by this latest update from Post Office Money. Paying 1.50%, this deal heads straight into the Moneyfacts.co.uk Best Buys. However, savers must review the account before the bonus period expires to ensure a competitive rate is maintained.


Paragon Bank

Paragon Bank has increased the rate on its one-year fixed rate bond, which is now pays 2.01% upon its anniversary or 1.99% monthly. Savers must invest from £1,000 up to a maximum of £100,000. Additions are permitted within five days of the account opening, but early access to funds is not allowed. This deal is for savers aged 18 and over and must be operated online.

The 2.01% one-year fixed bond is highly competitive and sits comfortably in the market. This deal is likely to be a popular choice for those looking for a competitive rate over the shorter term.


Mortgages

NatWest

NatWest has reduced the rate of its five-year fixed rate Help to Buy mortgage, which is now priced at 4.89% to 31.12.20. This deal is available to all first and second-time buyers who borrow between £25,000 and £570,000 at 95% loan-to-value. No fee is payable. This deal also has the added flexibility of being able to make overpayments of up to of 10% of the outstanding balance.

Borrowers with a small deposit of 5% will be intrigued by this latest update from NatWest. At 4.89%, this deal is highly competitive and heads straight into the Moneyfacts Best Buys. It will be a popular choice for those with modest deposits who are looking to step onto the housing ladder.

NatWest’s lending area includes Scotland.


Skipton Building Society

Skipton Building Society has reviewed its five-year fixed rate mortgage, which is now priced at 2.77% to 30.11.20. This deal is for remortgage customers only who borrow at 70% loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees is available. This deal has the flexibility to make overpayments of up to 10% of the outstanding balance and take payment holidays.

The 2.77% five-year fixed rate mortgage from Skipton Building Society is reasonably priced in the market. Its competitive rate, coupled with no fee and a great incentive package of free valuation and free legal fees, may make this a great deal for those looking to remortgage on a budget.

Skipton Building Society’s lending area includes Scotland.


Notes to editors: Publications are free to reproduce the tables and comments for their readers and the correct sourcing should read Moneyfacts.co.uk. Online publications are also free to reproduce the tables and comments for their viewers by sourcing a hyperlink to Moneyfacts.co.uk on any page that uses the information provided.


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.

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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