Pick of the Week - 08/12/2016

Thursday, 8 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

OakNorth Bank

OakNorth Bank has increased the rates on its fixed rate bonds, including its 24-month fixed deposit which now pays 1.55% on maturity. Savers must invest from £1,000 up to a maximum of £100,000. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated by post, by telephone and online.

The boost to OakNorth Bank’s 24-month fixed rate bond to 1.55% sees this deal improve its position in the Moneyfacts.co.uk Best Buys. Given its competitively priced rate, this is likely to be an excellent choice for any saver looking for a short-term home for their savings. However, with no early access to funds, savers must ensure they have enough funds left over for life’s little emergencies.


Leeds Building Society

Leeds Building Society has launched Online Saver, a new easy access account which pays 1.00% on maturity. Savers can invest from £5,000 up to a maximum of £350,000. Unlimited additions and penalty-free withdrawals are permitted. This deal is for savers aged 18 and over and must be operated online.

Savers looking for easy access to funds will be delighted by the latest launch from Leeds Building Society. Paying 1.00%, this deal is highly competitive and enters the Moneyfacts.co.uk Best Buys as a result, making this a great choice for any saver looking to kick-start a savings habit.

Mortgages

AA Mortgages

AA Mortgages has reduced its two-year fixed rate mortgage, which is now priced at 1.98% to 28.2.19. This deal is for all borrowers who have AA breakdown cover and wish to borrow £25,001 or more at 60% loan-to-value. No fee is payable, and an incentive package of free valuation for all borrowers and free legal fees for those remortgaging is included. This deal comes with the flexibility to make overpayments of up to 10% of the outstanding balance.

AA breakdown customers will be intrigued by this latest update from AA Mortgages. The 1.98% mortgage is reasonably priced in its sector. Coupled with no fee and a decent incentive package, this is likely to be a great option for anyone looking to minimise their upfront costs.

AA Mortgages’ lending area includes Scotland.

Hanley Economic Building Society

Hanley Economic Building Society has launched a new three-year fixed rate mortgage, which is now priced at 3.69% to 31.12.19. This deal is for all borrowers who wish to borrow between £30,000 and £500,000 at 95% loan-to-value. A £250 fee is payable upfront. An incentive package of free valuation for all borrowers is available, with remortgage customers also receiving free legal fees. This deal comes with the flexibility to make overpayments of up to 10% of the outstanding balance.

The 3.69% two-year fixed rate from Hanley Economic Building Society sits comfortably within the market, with the bonus of a low fee and an incentive package making it likely to be a popular choice for anyone with a 5% deposit.

Hanley Economic Building Society’s lending area excludes 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


Moneyfacts.co.uk on Facebook