Pick of the Week - 14/07/2016

Thursday, 14 July 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

Close Brothers Savings

Close Brothers Savings has reviewed the rate on its three-year fixed rate bond, which now pays 1.80% on its anniversary. Savers can invest from £10,000 up to a maximum of £2 million. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and must be operated by post.

The 1.80% three-year fixed rate bond from Close Brothers Savings is highly competitive in the market and sits comfortably within the top 10 of its sector. As a result, this is likely to be a popular choice among savers who are looking for the extra security a fixed rate bond provides.

United Trust Bank

United Trust Bank has revamped the rate on its five-year fixed rate ISA, which now pays 1.95% upon its anniversary. Savers can invest from £5,000 up to the maximum of £500,000. This deal is for transfers in only, and further additions and early access to funds are not permitted. It’s available for savers aged 18 and over and can be operated in branch and by post.

Savers looking for a home for their tax-free savings will be intrigued by this latest update from United Trust Bank. Paying 1.95%, this deal sits within the top five in its sector and is a great option for any saver with ISA funds to transfer.


Mortgages

West Brom Building Society

West Brom Building Society has launched a new five-year fixed rate mortgage, which is priced at 2.09% to 30.11.21. This deal is for all applicants who borrow between £40,000 at 65% loan-to-value. A fee of £199 is payable all of which can be added to the advance of the mortgage. An incentive package of free valuation up to a maximum of £445 is available, along with free legal fees for remortgage customers, and it comes with the flexibility of allowing borrowers to make overpayments of up to £1,000 every month. This product is with effect from 15.7.16.

The 2.09% five-year fixed rate mortgage from West Brom Building Society is highly competitive and enters the market as the lowest-priced deal available in its sector. Alongside this, borrowers will be able to enjoy a low fee and a great incentive package, making this a perfect option for anyone looking to secure low monthly repayments over the longer term.

West Brom Building Society's lending area does not include Scotland.

Monmouthshire Building Society

Monmouthshire Building Society has launched a new two-year fixed rate mortgage, which is priced at 1.58%. This deal is for first and second-time buyers who borrow between £30,000 and £500,000 at 80% loan-to-value. A fee of £1,145 is payable, of which £995 can be added to the advance of the mortgage. An incentive package of free valuation is available. This deal has the flexibility of allowing overpayments.

This latest launch from Monmouthshire Building Society sees the new 1.58% two-year fixed rate mortgage enter the top five in its sector. With a reasonable fee and decent incentive package, this will make a cost-effective option for many with the required 20% deposit.

Monmouthshire Building Society's lending area does not include Scotland.

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.

Contact us

If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.
Press Office Rachel Springall - Finance Expert
T: 01603 476210
M: 07803 145643
E: rspringall@moneyfacts.co.uk
Charlotte Nelson - Finance Expert
T: 01603 476204
M: 07872 543262
E: cnelson@moneyfacts.co.uk

Follow us at: http://twitter.com/MoneyfactsPress
An ISDN line is available for broadcast: 01603 230551