Pick of the Week - 16/02/2017

Thursday, 16 February 2017
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

Vanquis Bank

Vanquis Bank has increased the rate on its five-year fixed rate bond, now paying 2.05% upon its anniversary or 2.03% monthly. Savers can invest from £1,000 up to a maximum of £250,000. Additions and early access to funds are not allowed. This deal is for savers aged 18 and over and must be operated online.

The 2.05% five-year fixed rate bond from Vanquis Bank is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys as a result. Given its attractive rate, this is likely to be a great choice for anyone looking to invest over the longer term. With no access to funds, however, savers must ensure they have enough funds left over for life's little emergencies.

Mortgages

first Direct

first direct has reduced its 10-year fixed rate mortgage, which is now priced at 2.89%. This deal is for all applicants who wish to borrow between £10,000 and £1 million at 80% loan-to-value. No fee is payable and an incentive package including free valuation for all borrowers and free legal fees for those remortgaging is available. This deal comes with the flexibility to make overpayments. Non-first direct current account customers must open a current account with them to access this mortgage.

This 2.89% 10-year fixed rate mortgage from first direct is highly competitive, heading straight for the Moneyfacts.co.uk Best Buys as a result. Benefiting from no fee and an attractive incentive package, this is a great choice for borrowers looking for the extra security a 10-year fixed rate gives.

first direct's lending area includes Scotland.

Post Office Money

Post Office Money has launched a new two-year fixed rate mortgage, priced at 3.89% to 30.4.19. This deal is for first and second-time buyers who wish to borrow from £50,000 at 95% loan-to-value. No fee is payable and an incentive package of free valuation and £500 cashback is available. This deal comes with the flexibility to make overpayments of up to 10% of the outstanding balance.

Borrowers with a small deposit will be intrigued by the latest launch from Post Office Money. Priced at 3.89% for two years, this deal sits comfortably in the market. With the added bonus of no fee, free valuation and £500 cashback, this is likely to be an attractive option for many borrowers with a 5% deposit.

Post Office Money's lending area includes Scotland.


Credit Cards

Halifax

Halifax has launched a 30-month purchase credit card MasterCard. This deal offers 30 months interest-free on purchases. The card also comes with a 6-month interest-free term for balance transfers, for which an introductory balance transfer fee of 3.00% is payable. Purchases will be charged at 18.9% after the deal expires. To be eligible for this deal, customers must be 18 or over and apply by post or online.

Borrowers with a large purchase in mind who are looking for some breathing space will be intrigued by this latest offer from Halifax. This deal heads straight to the top of the Moneyfacts.co.uk Best Buys and is likely to be an attractive option for many. However, borrowers must ensure the balance is paid in full before the end of the term 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.

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