Pick of the week - 14.01.16

Thursday, 14 January 2016

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

Leeds Building Society

Leeds Building Society has reviewed its one-year fixed rate ISA, which now pays 1.65% on maturity. Savers can invest from £100. Additions are permitted up to 31.3.16 and early access is allowed subject to 60 days’ loss of interest. Transfers in from cash and stocks & shares ISAs are accepted. This deal is for savers aged 16 and over and can be operated in branch and by post.

The 1.65% one-year fixed rate cash ISA from Leeds Building Society is highly competitive and enters the Moneyfacts.co.uk Best Buys as a result. This is a great choice for savers who have yet to utilise their tax-free allowance, and with the extra flexibility of early access to funds, this is likely to be a popular choice.


Post Office Money

Post Office Money has reviewed its easy access account, Online Saver Issue 18, which now pays 1.30% yearly (including a 0.65% bonus for 12 months). Savers can invest as little as £1 up to a maximum of £2 million. Further additions and unlimited withdrawals are permitted without notice. This deal is for savers aged 18 and over and must be operated online.

Investors looking for easy access to funds will be highly interested in this account by Post Office Money. Paying 1.30%, this deal enters the Moneyfacts.co.uk Best Buys, making it a popular choice for savers looking for a well-known brand. Savers will need to re-evaluate the account before the bonus period expires to ensure competitive returns are maintained.


Mortgages

Norwich & Peterborough Building Society

Norwich & Peterborough Building Society has reduced the rate on its two-year fixed mortgage, which is now priced at 3.68%. This deal is for house purchase customers only who borrow between £50,000 and £500,000 at 95% loan-to-value. A fee of £845 is payable, all of which can be added to the advance of the mortgage. This deal has the flexibility to make overpayments of up to 10%, make underpayments and take payment holidays.

Borrowers with a small deposit of 5% will be intrigued by this latest update from Norwich & Peterborough Building Society. Priced at 3.68%, this deal sits towards the top of the market and enters the Moneyfacts.co.uk Best Buys as a result. With a great range of flexible repayment options, this is likely to be an attractive choice for many.

Norwich & Peterborough Building Society’s lending area does not include Scotland.


Principality Building Society

Principality Building Society has amended its three-year fixed rate mortgage, which is now priced at 2.30% to 28.2.19. This deal is for all applicants who borrow between £5,000 and £650,000 at 75% loan-to-value. A low fee of £99 is payable. An incentive package of free valuation for all borrowers and free legal fees for those remortgaging is available.

The 2.30% three-year fixed rate is highly competitive and enters the Moneyfacts.co.uk Best Buys. Borrowers will be able to enjoy a low fee of £99 and a great incentive package, which will no doubt make this a popular choice among borrowers.

Principality Building Society’s lending does not include Scotland.


Current Accounts

The Co-operative Bank

The Co-operative Bank has launched Everyday Rewards for new and existing current account holders. Current account customers will now be able to receive £4 per month if eligible accounts are funded by £800 per month and four different direct debits are held. To receive the reward, current account holders must ensure their account is kept in credit or within their agreed overdraft limit and frequently log in to online banking. Up £1.50 extra can be earned per month through debit card spending. All rewards will be paid into a nominated account each month or donated to selected charities.

The Co-operative Bank’s Everyday Rewards is a great perk for existing current account customers or anyone considering switching to a Co-op deal. With an option to donate rewards to charity, this deal will appeal to all those who are looking to get a little something extra from their money. However, customers will need to look at the whole current account to ensure that it’s the best deal for them.


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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