Pick of the week - 26.05.16

Thursday, 26 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

Hampshire Trust Bank

Hampshire Trust Bank has reviewed its three-year fixed rate bond, which now pays 2.00% upon its anniversary. Savers can invest from £1,000 up to a maximum of £250,000. Additions and earlier access to funds are not permitted. This deal is for savers aged 18 and over and must be operated by post.

The 2.00% three-year fixed rate deal from Hampshire Trust Bank is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys. This is an ideal choice for anyone looking for a straightforward fixed rate; however, with no early access to funds, savers need to ensure they still have funds for life’s little emergencies.


Bank of London and the Middle East

Bank of London and the Middle East has launched a new five-year fixed rate bond, which pays 2.75% upon its anniversary. Savers must invest from £25,000 up to a maximum of £2 million. Additions and early access to funds are not permitted. This deal must be operated online. Bank of London and the Middle East operates under Islamic principles and the rate on offer represents the expected profit rate.

This new five-year fixed rate bond from Bank of London and the Middle East paying 2.75% is highly competitive and enters the Moneyfacts.co.uk Best Buys as a result. This is an ideal choice for savers with a sizeable pot who are looking for a long-term home for their savings.


Mortgages

HSBC

HSBC has reduced its two-year fixed rate mortgage, which is now priced at 1.16% to 31.8.18. This deal is for all applicants who borrow between £10,000 and £500,000 at 65% loan-to-value. A fee of £1,499 is payable upfront. An incentive package for remortgage customers of free legal fees is available. This deal has the flexibility to make overpayments of up to 20% of the mortgage payment every month.

The 1.16% two-year fixed rate mortgage from HSBC is one of the lowest deals in the market. As a result, this highly competitive deal is likely to be a great option for those with the required deposit who are looking to reduce their monthly repayments.

HSBC’s lending area includes Scotland.


TSB

TSB has reduced its two-year fixed rate mortgage, which is now priced at 2.79% to 31.8.18. This deal is for first and second-time buyers only who borrow between £5,000 and £750,000 at 90% loan-to-value. A fee of £1,260 is payable, of which £265 can be added to the advance of the mortgage. An incentive of a £250 cash rebate is available to all borrowers. This deal has the flexibility to make overpayments up to 10% of the outstanding balance and take payment holidays.

Borrowers with a modest deposit of 10% will be delighted by this latest reduction from TSB. Priced at 2.79%, this deal sits comfortably within its sector. Its £250 cash rebate incentive should also help make it a popular choice for those looking to borrow from a well known brand.

TSB’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. 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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