The latest top financial deals
Savings
Coventry Building Society has launched Centenary Poppy Bond – a three-year fixed-rate bond paying 2.4% a year or 2.37% monthly. Savers can invest from as little as £1 up to a maximum of £250,000. No early access to funds is permitted but additions are allowed while the issue remains open. A donation of 0.15% of the average balance will be paid to the Royal British Legion. This bond is available to savers aged 18 and over and can be operated by phone, by post or online.
It’s good because: This heads straight into the Best Buys. This deal should prove popular with those looking to help a good cause as well as receive high returns.
Furness Building Society has launched Festive Saver, a regular savings account paying 2.55% on maturity. Savers can invest from as little as £1 and must make regular monthly contributions of between £1 and £250. If a payment is missed, the account will close. Early access to funds is on account closure only. This deal is for savers aged 16 and over and can be operated in branch and by post.
It’s good because: This encourages people to save for next Christmas. This is a highly competitive deal, and the flexibility of early access to funds will make this a popular choice.
Mortgages
Chelsea Building Society has reduced the rate on its two-year fixed-rate mortgage, which is now priced at 1.94% until the end of January 2017. This deal is for customers who borrow between £25,001 and £5m at 65% loan-to-value (LTV). There is a fee of £475, of which £345 can be added to the advance. There is an incentive of a £500 rebate for house purchase customers, with those remortgaging receiving free valuation and free legal fees. There is the flexibility of being able to make overpayments up to a maximum of 10% of the mortgage advance, make underpayments and take payment holidays.
It’s good because: With a great incentives package, this will be an excellent choice for those looking to minimise any upfront costs.
Principality Building Society has reduced its five-year fixed-rate mortgage, which is now priced at 3.30% until the end of 2019. This deal is for applicants who borrow between £5,000 and £250,000 at 85% LTV. It has a fee of £99, and there are incentives of free valuation and free legal fees for remortgage customers.
It’s good because: Borrowers with 15% deposits will like this five-year deal. It enters the market as the lowest deal in its sector. The low fee and good incentives will make this a cost-effective choice for many.
Credit cards
M&S Bank has increased the term of its introductory purchase deal to 19 months interest-free. Interest is charged at 18.9% APR after that. A balance-transfer deal is also available, offering 0% interest for 15 months on any transfers (although transfers will incur a 2.9% fee). There is a points scheme, with one point earned for £1 spent at M&S and one point for every £2 spent elsewhere.
It’s good because: Borrowers looking for a bit of breathing space with a large purchase on their mind might be enticed by this offer – it has one of the longest introductory deals for interest-free purchases.