Pick of the week - 19.11.15

Thursday, 19 November 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

Sainsbury’s Bank

Sainsbury’s Bank has increased the rate on its two-year fixed rate bond which now pays 1.95% upon its anniversary (1.95% monthly). Savers must invest from £5,000 up to a maximum of £50,000. Additions and early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated online only.

The 1.95% two-year fixed rate bond from Sainsbury’s Bank offers savers a straight forward account from a popular brand. This is likely to be a great choice for anyone looking for a monthly option to supplement their income and who want to operate their account online.


Metro Bank

Metro Bank has reviewed its 18-month fixed rate bond, which now pays 2.05% upon its anniversary or 2.03% monthly. Savers can invest from £500, but additions and early access to funds are not permitted. This deal is for savers aged 16 and over and can be operated in branch, by telephone and online.

The 2.05% 18-month fixed rate bond from Metro Bank is highly competitive and enters the Moneyfacts.co.uk Best Buys as a result. This is a great choice for any saver looking to maximise their interest over the shorter term.


Mortgages

The Co-operative Bank

The Co-operative Bank has reduced the rate on its two-year fixed rate mortgage, which is now priced at 2.99% to 31.1.18. This deal is for first and second-time buyers only who borrow from £25,000 at 90% loan-to-value. No fee is payable. This deal has the flexibility of allowing borrowers to make overpayments of up to 10% of the outstanding balance, make underpayments and take payment holidays.

Borrowers with a modest deposit of 10% will be intrigued by this latest update from The Co-operative Bank. Priced at 2.99% this deal sits comfortably within the market, and by lacking a fee it should be a popular choice among those looking to minimise any upfront costs.

The Co-operative Bank’s lending area includes Scotland.


Newcastle Building Society

Newcastle Building Society has launched a new two-year fixed rate mortgage, priced at 2.27% until 31.1.18. This deal is for all customers who borrow from £10,000 at 80% loan-to-value. No fee is payable. This deal has the flexibility of allowing overpayments of up to £499 every month.

This 2.27% two-year fixed rate mortgage from Newcastle Building Society is reasonably priced in the market. With no fee payable this will be a great choice for any borrower looking for a straightforward fixed rate.

Newcastle Building Society’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.

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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