Pick of the Week - 30/03/2017

Thursday, 30 March 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

Principality Building Society

Principality Building Society has launched a new 18-month fixed rate ISA, paying 1.40% upon its anniversary or 1.39% monthly. Savers can invest from a minimum of £500. Additions are permitted while the issue remains open, and early access is allowed subject to closure of the account and a 150-day loss of interest penalty. Transfers in from cash and stocks and shares ISAs are also permitted. This deal is for savers aged 16 and over and can be operated in branch, by post and online.

Savers looking for a short-term home for their ISA funds will be delighted by this latest launch from Principality Building Society. Paying 1.40%, this deal heads straight to the top of the market, making it a popular choice for savers looking to utilise their tax-free allowance.

Secure Trust Bank

Secure Trust Bank has launched a new 90-day notice account, which pays 1.19% quarterly. Savers can invest from £1,000 up to a maximum of £1 million. Additions are permitted, while early access to funds is allowed provided 90 days' notice is given and only three capital withdrawals are made per calendar year. This deal is for savers aged 18 and over and can only be managed by post or by phone.

Paying 1.19%, this deal from Secure Trust Bank is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys as a result. This is a great option for anyone looking to maximise their interest without tying themselves down to a fixed rate.

Mortgages

Halifax

Halifax has reduced the rate on its two-year fixed rate mortgage, priced at 1.19% to 31.5.19. This deal is for house purchase customers only who wish to borrow up to a maximum of £1 million at 60% loan-to-value. A fee of £790 is payable, all of which can be added to the advance of the mortgage. This deal comes with the flexibility to make overpayments of up to 10% and take payment holidays.

The 1.19% deal from Halifax sits within the top-10 lowest products in its sector. With the added bonus of a reasonable fee, this is likely to be a popular option for house purchase customers looking to borrow from a high-street lender.

Halifax's lending area includes Scotland.

Yorkshire Building Society

Yorkshire Building Society has reduced its three-year fixed rate mortgage, which is now priced at 1.42% to 30.4.20. This deal is for all applicants who wish to borrow between £25,001 and £5 million at 65% loan-to-value. A fee of £995 is payable, all of which can be added to the advance of the mortgage. This deal offers the flexibility of being able to make overpayments of up to 10% of the outstanding balance, make underpayments and take payment holidays.

Borrowers with the required 35% deposit will be intrigued by this latest update from Yorkshire Building Society. Priced at 1.42%, this deal has become the lowest currently available and therefore easily enters the Moneyfacts.co.uk Best Buys. This has made it a great choice for borrowers looking to reduce their monthly repayments.

Yorkshire Building Society's lending area includes Scotland.

Loans

TSB

TSB has reduced the rate on its unsecured personal loan tier of £7,500 to £20,000. Customers can now apply for this loan over a term one to five years at a rate of 2.8% APR. Customers must be 18 or over. Applications can be made in branch, by telephone and online.

TSB strengthens its position within the Moneyfacts.co.uk Best Buys with a reduction to its £7,500 to £20,000 tier loan rate. Now offering a market-leading APR of 2.8%, borrowers looking to consolidate their debts will surely be interested in this 'Excellent' deal.


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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