Pick of the Week - 29/12/2016

Thursday, 29 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

Secure Trust Bank

Secure Trust Bank has launched a new 90-day notice account, paying 1.31% quarterly. Savers must invest from £1,000 up to a maximum of £1 million. Early access is permitted provided 90 days’ notice is given, though this is limited to three capital withdrawals per year. This deal is for savers who are 18 and over, and must be operated by telephone or by post.

This new 90-day notice account from Secure Trust Bank is highly competitive, paying 1.31%, which helps the deal head straight to the top of the Moneyfacts.co.uk Best Buys. However, investors must be aware they will need to give 90 days’ notice to access their cash.

Coventry Building Society

Coventry Building Society has reviewed its easy access ISA, which now pays 0.90% yearly. Savers can invest from as little as £1. Additions and unlimited penalty-free withdrawals are permitted. Transfers in are accepted, however only for the current tax year. This deal is for savers aged 16 and over, and can be operated in branch, by post, by telephone and online.

Savers looking to kick-start their ISA savings will be intrigued by this latest offering from Coventry Building Society. Priced at 0.90%, this deal sits comfortably in the Moneyfacts.co.uk Best Buys. With easy access to funds, this is likely to be a great choice for anyone looking to dip into their savings every now and again.

Mortgages

Coventry Building Society

Coventry Building Society has tweaked its 10-year fixed rate mortgage, which is now priced at 2.69% to 31.3.27. This deal is for all applicants who wish to borrow at 65% loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation for all borrowers and free legal fees for those remortgaging is available. This deal has the flexibility of being able to make overpayments of up to 10% of the outstanding balance.

Borrowers looking for peace of mind could find Coventry Building Society’s 10-year fixed rate appealing. Priced at 2.69%, this deal has secured a place in the Moneyfacts.co.uk Best Buys. With the added bonus of a great incentive package, this is likely to be a cost-effective choice for any borrower looking for a long-term deal.

Coventry Building Society’s lending area includes Scotland.

Loans

Sainsbury's Bank

Sainsbury’s Bank has reduced the rate on its unsecured personal loan tier of £7,500 to £15,000. Customers can now apply for this loan over a term of two to five years at a rate of 2.9% APR. Customers must be 18 or over. Applications can be made by telephone or online.

Sainsbury’s Bank reaffirms its position at the top of the Moneyfacts.co.uk Best Buys with a reduction to its £7,500 to £15,000 tier loan rate. Offering an APR of 2.9%, borrowers will struggle to find a better deal elsewhere, making it a fantastic choice for anyone looking to consolidate their debts.

Credit Cards

Barclaycard

Barclaycard has launched a new Platinum 42 Month Balance Transfer Visa. This deal offers a 42-month interest-free term for balance transfers, with an introductory balance transfer fee of 2.99% after a partial refund. Purchases are charged at 18.9% APR. To be eligible for this deal, customers must be 18 or over and apply by phone, by post or online.

Barclaycard’s 42-month interest-free balance transfer credit card is highly competitive and therefore sits at the top of the Moneyfacts.co.uk Best Buys. With a significant interest-free term, this is a great choice for any borrower looking to clear their debts in the New Year without incurring monthly interest. However, borrowers must ensure the balance is cleared before the deal expires to ensure no interest is charged.

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