Check out this week’s best new financial deals

Savings

Vanquis Bank (www.vanquissavings.co.uk) has increased the rate on its five-year fixed-rate bond, now paying 2.05% on its anniversary. Savers can invest between £1,000 and £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.

It’s good because: Given its attractive rate, this is likely to be a great choice for anyone looking to invest over the longer term.

 

Mortgages

First Direct (www.firstdirect.com) has reduced its 10-year fixed-rate mortgage, which is now priced at 2.89%. This deal is for successful applicants who borrow between £10,000 and £1m at 80% loan-to-value (LTV). There is no fee, and incentives include a free valuation for all borrowers and free legal fees for those remortgaging. There is also the flexibility to make overpayments. Non-First Direct current account customers must open an account to qualify for this mortgage.

It’s good because: This is a highly competitive rate with no fee and attractive incentives.

 

Post Office Money (www.postoffice.co.uk/money) has launched a two-year fixed-rate mortgage, priced at 3.89% until April 2019. This deal is for first and second-time buyers who borrow from £50,000 at 95% LTV. There is no fee, a free valuation and £500 cashback. Overpayments of up to 10% of the outstanding balance are allowed.

It’s good because: This could be attractive to borrowers with 5% deposits.

 

Credit cards

Halifax (www.halifax.co.uk) has launched a Mastercard with 30 months of interest-free purchases. There is also a six-month interest-free term for balance transfers, although there is a balance-transfer fee of 3%. Purchases will be charged at 18.9% after the 30-month period expires. To be eligible for this deal, customers must be 18 or over and apply by post or online.

It’s good because: Borrowers with large purchases in mind will find this attractive.


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