Pick of the Week - 09/06/2016

Thursday, 9 June 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 increased the rate on its one-year fixed rate ISA, which now pays 1.25% on maturity. Savers can invest from £100. Additions are permitted until 29.7.16 and early access is allowed subject to a penalty of 60 days' loss of interest. Transfers in from cash and stock & shares ISAs are also permitted. This deal is for savers aged 16 and over and can be operated in branch and by post.

The 1.25% one-year fixed rate ISA is highly competitive and consequently enters the Moneyfacts.co.uk Best Buys. This is a great choice for any saver looking for a short-term home for their ISA savings and is likely to be popular as a result.


United Trust Bank

United Trust Bank has increased the rate on its two-year fixed rate bond, which now pays 1.85% upon its anniversary. Savers can invest from £500 up to a maximum of £500,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated in branch and by post.

Savers looking for a short-term fixed rate will be delighted by this latest update from United Trust Bank. Paying 1.85%, this deal is highly competitive and heads straight into the Moneyfacts Best Buys. It will make an ideal choice for any saver looking to maximise their interest.


Mortgages

Post Office Money

Post Office Money has reviewed its two-year fixed rate Help to Buy mortgage, which is now priced at 3.74% to 31.7.18. This deal is for first and second-time buyers who borrow from £25,001 to £500,000 at 95% loan-to-value. No fee is payable and an incentive package of free valuation and a £400 cash rebate is available. This deal has the flexibility to make overpayments up to 10% of the outstanding balance.

Borrowers with a small deposit of 5% will be intrigued by this latest update from Post Office Money. With a rate of 3.74% this deals confirms its place in the Moneyfacts.co.uk Best Buys. With no fee and a great incentive package, which includes a £400 cash rebate, this is a perfect choice for any borrower looking to opt for a Help to Buy deal.

Post Office Money's lending area includes Scotland.


Newcastle Building Society

Newcastle Building Society has revamped its mortgage range, including its three-year fixed rate mortgage, which is now priced at 1.99% to 31.8.19. This deal is for all applicants who borrow between £10,000 and £1 million at 80% loan-to-value. A fee of £999 is payable, of which £800 can be added to the advance of the mortgage. This deal has the flexibility to make overpayments of up to a maximum of £499 every month.

The 1.99% three-year fixed rate mortgage from Newcastle Building Society is highly competitive and sits comfortably within the top five in its sector. As a result, it heads straight into the Moneyfacts.co.uk Best Buys, making this deal a cost-effective option for many.

Newcastle Building Society lending area includes Scotland.


Loans

Halifax

Halifax has increased its introductory interest-free term for balance transfers on its Balance Transfer Credit Card MasterCard. This deal now offers a joint market-leading 40-month interest-free term for balance transfers with an introductory balance transfer fee of 2.54%. Standard purchases will be charged at 18.9% APR. To be eligible for this deal, customers must be 18 or over and apply by telephone or online.

Halifax's 40-month interest-free balance transfer credit card is highly competitive and sits at the top of the Moneyfacts.co.uk Best Buys as a result. This deal is ideal for borrowers who are looking to clear their debts over a significant period of time. However, to avoid chargeable interest borrowers should not lose sight of the end of the deal and ensure the balance is cleared before it runs out.


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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