Pick of the week - 12.05.16

Thursday, 12 May 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

Shawbrook Bank

Shawbrook Bank has increased the rate on its easy access account, which now pays 1.25% upon its anniversary or 1.24% monthly. Savers can invest from £1,000 up to a maximum of £75,000. Additions and unlimited penalty-free withdrawals (minimum £500) are permitted. This deal is for savers aged 18 and over and must be operated online.

Savers looking for easy access to their savings will be delighted by this latest boost from Shawbrook Bank. Paying 1.25%, this deal enters the Moneyfacts.co.uk Best Buys and will be a great choice for savers looking to kick-start a savings habit.


Britannia

Britannia has increased the rate on its one-year fixed rate ISA, which now pays 1.40% yearly. Savers can invest from £5,000. Additions are allowed while the issue remains open and transfers in from other cash ISAs are permitted. It is also possible to access funds early subject to a 180-day loss of interest penalty. This deal is for savers aged 16 and over and can be operated in branch and by post.

The 1.40% one-year fixed rate ISA from Britannia 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 popular choice for those looking to invest their tax-free savings over the shorter term.


Mortgages

Leek United Building Society

Leek United Building Society has launched a new five-year discounted variable rate mortgage, priced at 2.55% (2.64% discount). This deal is for all applicants who borrow from £25,000 at 90% loan-to-value. A fee of £199 is payable and borrowers are permitted to make overpayments.

Priced at 2.55%, this five-year discounted variable rate mortgage is now the lowest deal in its sector. With a combination of a great rate and low fee of £199, this deal heads straight into the Moneyfacts.co.uk Best Buys and is a great option for borrowers who have a modest deposit of 10%.

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


Hinckley & Rugby Building Society

Hinckley & Rugby Building Society has reduced the rate of its five-year fixed mortgage, which is now priced at 2.59%. This deal is for all applicants who borrow from £75,000 at 85% loan-to-value. A fee of £999 is payable, of which £800 can be added to the advance of the mortgage. An incentive package of free valuation for all borrowers and free legal fees for those remortgaging is available. This deal has the flexibility to make overpayments.

Hinckley & Rugby Building Society’s 2.59% five-year fixed rate is highly competitive and earns a place in the Moneyfacts.co.uk Best Buys. Accompanied by a great incentive package, this is an ideal choice for any borrower who is looking to keep down the initial costs of buying a home.

Hinckley & Rugby Building Society’s lending area does not include Scotland.


Loans

Sainsbury’s Bank

Sainsbury’s Bank has reduced rates on selected tiers of its unsecured personal loan. Customers can now apply for a competitive loan of £7,500 to £15,000 over one to three years at a rate of 3.3% APR. Customers must be at least 18 years old and have a minimum household income of £7,500 per annum. Applications can be made online and by phone.

Sainsbury’s Bank earns an ‘outstanding’ Moneyfacts personal loan rating following a reduction to its £7,500 to £15,000 tier. This deal is highly competitive, making it an ideal choice for anyone looking for a cost-effective loan over a shorter term.



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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. 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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