Pick of the week - 011015

Thursday, 1 October 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

Hampshire Trust Bank

Hampshire Trust Bank has increased the rate paid on its two-year fixed rate bond, which is now 2.35% upon its anniversary. Savers must invest from £1,000 up to a maximum of £250,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and must be operated by post.

The 2.35% two-year fixed rate bond from Hampshire Trust Bank is highly competitive and sits comfortably in the market. This deal is likely to be a popular choice for those looking for a straightforward account with a competitive rate. However, with no early access to funds, savers must be comfortable with the length of the term.


OakNorth Bank

OakNorth Bank has launched a 12-month fixed rate bond, which pays 2.00% on maturity. Savers must invest from £1,000 up to a maximum of £100,000. 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.

OakNorth Bank, the newest bank on the market, has launched a highly competitive 12-month fixed rate bond. Paying 2.00%, this deal sits comfortably within the top 10 of its sector, which will make it a great choice for those looking for a simple fixed rate bond.


Mortgages

HSBC

HSBC has reduced its five-year fixed rate, which is now priced at 2.88% to 31.12.20. This deal is available to all applicants who borrow up to £400,000 at 90% loan-to-value. A fee of £1,499 is payable. An incentive package for remortgage customers of free legal fees is available, while all borrowers have the flexibility to be able to make regular overpayments up to 20%.

Borrowers with a modest deposit of 10% will be delighted by this latest update from HSBC. Priced at 2.88% this deal is now the lowest priced offering in its sector and enters the Moneyfacts.co.uk Best Buys, making this a great choice for anyone looking to borrow with a high street lender.

HSBC’s lending area includes Scotland.


Post Office Money

Post Office Money has reduced its two-year fixed rate mortgage, which is now priced at 1.85% to 31.12.17. This deal is for all borrowers who borrow from £25,001 at 75% loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees for remortgage customers is available. This deal has the flexibility to make overpayments of up to 10% of the outstanding balance.

The 1.85% five-year fixed rate mortgage from Post Office Money 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 for remortgage customers, should make this a cost-effective option for many borrowers.

Post Office Money’s lending area includes Scotland.


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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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