Pick of the week - 17.03.16

Thursday, 17 March 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.



Santander has reviewed its Help to Buy: ISA, which now pays 4.00% yearly. Savers can invest from as little as £1. Further additions of up to £200 per month are allowed, as are transfers in from existing Help to Buy: ISAs. Unlimited, restriction-free withdrawals are also possible. All savers using the Help to Buy: ISA will benefit from a 25% boost on their savings (up to a maximum of £3,000) from the Government, which will be paid when buying a home. Savers must 16 and over and a genuine first-time buyer. The account can be operated in branch, by telephone and online.

Savers looking to build a deposit to get onto the first rung of the housing ladder will be pleased by this latest update from Santander. Paying 4.00%, this deal is the top paying rate in its sector, and with the extra flexibility of unlimited withdrawals, this is likely to be a popular choice for anyone with a dream of one day owning their own home.

Yorkshire Building Society

Yorkshire Building Society has launched Single Access Saver, a one-year variable rate account that pays 1.30% upon its anniversary or 1.29% monthly. Savers can invest from £100 up to £2 million. Only one withdrawal is permitted per year but further additions are welcomed at any time. This deal can be operated in branch and by post.

The 1.30% Single Access Saver is a unique offering in the market, providing a competitive rate of interest in its sector. This is likely to be a popular product among savers who are looking for easy access to funds but who are able to manage their money so they can meet the withdrawal restrictions.


Saffron Building Society

Saffron Building Society has launched a new five-year fixed rate mortgage, priced at 3.97% to 30.9.21. This deal is for first-time buyers only who borrow between £30,000 and £500,000 at 95% loan-to-value. A fee of £495 is payable upfront. This deal gives borrowers the flexibility to make overpayments of up to 10% of the outstanding balance.

First-time buyers will be pleased by this latest launch from Saffron Building Society. At 3.97%, this deal enters the market as the lowest in its sector and earns a place in the Moneyfacts.co.uk Best Buys as a result. This is likely to be a great choice for those looking for a cost-effective long-term deal.

Saffron Building Society’s lending area does not include Scotland.

Leek United Building Society

Leek United Building Society has launched a new two-year fixed rate mortgage, priced at 2.09% to 30.6.18. This deal is for all applicants who borrow between £30,000 and £500,000 at 90% loan-to-value. A fee of £995 is payable, of which £895 can be added to the advance of the mortgage. This deal gives borrowers the flexibility to make overpayments of up to 10% of the mortgage advance.

The 2.09% two-year fixed rate from Leek United Building Society is highly competitive, sitting just shy of the market-leader and entering the Moneyfacts.co.uk Best Buys as a result. This is likely to be a fantastic choice for borrowers with a modest 10% deposit who are looking to reduce their monthly repayments.

Leek Building Society’s lending area does not include Scotland.

Credit Cards


Halifax has increased the interest-free term for both balance transfers and purchases on its credit card to 24 months. Introductory balance transfers carry a fee of 2.50% and purchases are charged 18.9% APR after the initial offer ends. To be eligible for this deal, customers must be 18 and over and applications can be made online and by telephone.

Customers looking to make a large purchase as well as get a bit of breathing space for paying off their outstanding credit card balance will be delighted by Halifax’s latest update. Offering a competitive 24-month interest-free term for purchases and balance transfers, this deal secures its position in the Moneyfacts.co.uk Best Buys. As always, customers should aim to pay off any debt before the introductory deals end so that they do not incur any interest.

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. 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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