Pick of the week - 17.12.15

Thursday, 17 December 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

Shawbrook Bank

Shawbrook Bank has launched a new easy access account, which pays 1.45% yearly or 1.44% monthly. Savers can invest from £1,000 up to a maximum of £50,000. Further additions and withdrawals can be made at any time without penalty or notice. This deal is for savers aged 18 and over and must be operated online.

Savers looking to kick-start a savings habit will be delighted by this latest launch from Shawbrook Bank. Paying 1.45%, this deal is highly competitive and enters the Moneyfacts.co.uk Best Buys. It is likely to be a popular choice for anyone looking to build an emergency nest egg.


Axis Bank UK Ltd

Axis Bank UK Ltd has increased the rate of its three-year fixed bond, which now pays 2.55% upon its anniversary or 2.52% monthly. Savers must invest from £1,000 up to a maximum of £200,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated in branch or by post.

The 2.55% three-year fixed rate bond from Axis Bank UK Ltd is highly competitive and subsequently cements its position within the Moneyfacts.co.uk Best Buys. This is a great choice for a saver looking for a straightforward fixed rate bond; however, they must be comfortable tying up their money for the full term.


Mortgages

Chelsea Building Society

Chelsea Building Society has launched a new two-year fixed rate, which is priced at 3.64% to 31.1.18. This deal is for first and second-time buyers who borrow between £50,000 and £500,000 at 95% loan-to-value. A fee of £1,675 is payable, of which £1,545 can be added to the advance of the mortgage. This deal has the flexibility to make overpayments of up to 10% of the mortgage advance, make underpayments and take payment holidays.

The 3.64% two-year fixed rate from Chelsea Building Society is highly competitive and enters the market as the lowest deal at 95% loan-to-value. This is great option for any borrower with a modest deposit of 5% who is looking to minimise their monthly repayments.

Chelsea Building Society’s lending area includes Scotland.


Newcastle Building Society

Newcastle Building Society has launched a new two-year fixed rate, which is priced at 3.35% to 31.1.18. This deal is for all customers who borrow from £10,000 at 90% loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees are included. This deal has the flexibility of being able to make overpayments of up to £499 every month.

Borrowers with a 10% deposit will be intrigued by this latest launch from Newcastle Building Society. This deal sits comfortably within the market, and with no fee payable and a great incentive package, this should be a popular choice for borrowers who are looking to keep initial costs down.

Newcastle Building Society’s lending area includes Scotland.


Loans

HSBC

HSBC’s personal loans have been made available to new customers. All customers can now apply for a competitive loan of £7,000 to £15,000 over one to five years with a rate of 3.7% APR. Customers must be 18 and over and have a minimum annual income of £10,000. Applications can be made online or by telephone.

By opening up its personal loans to new customers HSBC has entered the Moneyfacts.co.uk Best Buys with its competitive deal of 3.7% APR for loans between £7,000 and £15,000 over one to five years. This is a cost-effective choice for any borrower looking for a loan from a well-known brand.


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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