Pick of the Week - 01/12/2016

Thursday, 1 December 2016
money
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 increased the rate on its one-year fixed rate bond, which now pays 1.40% on maturity. Savers must invest from £1,000 up to a maximum of £250,000. Additions and early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated by post and online.

The increase to Hampshire Trust Bank’s one-year fixed rate sees this deal enter the Moneyfacts.co.uk Best Buys. This attractive rate is likely to make it a popular option, but savers will have to beware that early access to funds is not permitted.


Masthaven Bank

Masthaven Bank launches into the savings market with a selection of fixed rate bonds, including a five-year fixed rate bond which pays 2.01% upon its anniversary or 1.99% monthly. Savers can invest from £500 up to a maximum of £250,000. Additions are permitted within seven days of the account opening, however, early access to funds is not allowed. This deal is for savers aged 18 and over and can be operated by telephone and online.

Savers will be curious about the new kids on the block, Masthaven Bank, and with the launch of their fixed rate range they have certainly entered the market with a bang. Priced at 2.01%, their five-year fixed rate bond is highly competitive and heads straight to the top of the Moneyfacts.co.uk Best Buys, making it a great choice for anyone looking for a long-term home for their savings.

Mortgages

Santander

Santander has launched a new five-year fixed rate mortgage, priced at 2.11% to 2.3.22. This deal is for all borrowers who wish to borrow between £6,000 and £1 million at 60% loan-to-value. No fee is payable, and it includes an incentive package of free valuation for all borrowers and a choice between free legal fees or £250 cashback for remortgagors. This deal comes with the flexibility of being able to make overpayments of up to 10% of the outstanding balance.

Borrowers with the required 40% looking for a high-street lender will be intrigued by this latest offering from Santander. Priced at 2.11%, this deal is reasonably priced in its sector. With the added bonus of a great incentive package and no fee, this is likely to be a great option for anyone looking to keep their initial costs down.

Santander’s lending area includes Scotland.


Loans

Hitachi Personal Finance

Hitachi Personal Finance has reduced the rate on its unsecured personal loan tier of £5,000 up to £7,500. Customers can now apply for this competitive loan with a term of two to five years at 3.7% APR. Customers must be 21 or over. Applications can be made by phone or online.

Hitachi Personal Finance has improved its loan rate, which now stands at 3.7% APR, earning it pride of place at the top of the Moneyfacts.co.uk Best Buys. It is an ideal choice for anyone looking to consolidate their debts.

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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