Check out some of the latest leading deals
Savings
Hampshire Trust Bank has launched a two-year fixed rate bond paying 2.1% on its anniversary. Savers can invest between £1,000 and £250,000. Additions and early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated by post only.
It’s good because: This is highly competitive and sits comfortably within the top five of its sector. It is an ideal product for savers looking to maximise their interest in the shorter term.
Norwich and Peterborough Building Society has launched an 18-month fixed rate Isa paying 1.5% a year. The minimum investment is £100. Additions are not permitted but early access is allowed, subject to a 90-day loss-of-interest penalty. Transfers in from cash and stocks & shares Isas are allowed. This deal is for savers aged 16 and over and can be operated by branch and post.
It’s good because: Savers who are looking to shelter their savings from tax might be excited by this highly competitive launch. The extra flexibility of early access to funds is likely to boost an already popular product.
Mortgages
Nationwide Building Society has reduced its 10-year fixed rate, which is now priced at 2.94%. This deal is available for customers who borrow between £25,000 and £1m at 60% loan-to-value (LTV). There is a fee of £999 (£499 for first-time buyers), which can be added to the mortgage advance. Incentives of a free valuation and a £250 rebate or free legal fees are available for remortgage customers. There is the flexibility of being allowed to make overpayments up to 10% of the advance or underpayments.
It’s good because: Borrowers looking for a long-term deal might be surprised by this – the lowest 10-year fixed rate on the market today. With the extra bonus of a great incentive package for remortgage customers, it should be a popular choice for borrowers looking for the extra security a 10-year fix provides.
Hanley Economic Building Society has launched a two-year fixed rate priced at 4.49% until the end of March 2017. It is for successful applicants who borrow between £30,000 and £350,000 at 95% LTV. There is a fee of £250 and a free valuation (worth up to £260) is available. There is the flexibility to make overpayments of up to 10% of the outstanding balance, and no redemption penalty.
It’s good because: This enters the market as the lowest deal in its sector, and should prove popular with borrowers with small deposits.
Credit cards
Clydesdale Bank has increased the term of its introductory purchase deal on its Gold Mastercard to 20 months interest-free. Interest is 18.9% APR thereafter. A balance transfer deal is also available, offering 0% for 12 months on any transfers, subject to a balance transfer fee of 3%. (This card is also available through Yorkshire Bank.)
It’s good because: Borrowers looking for a bit of breathing space with a large purchase on their mind might be enticed by this latest card. With an introductory purchases offer of 20 months interest-free, it sits just shy of the market-leader.