Moneyfacts UK Mortgages and Savings Picks of the Week

By: MoneyFacts

The Moneyfacts Pick of the Week showcases the best of the latest products 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.

Mortgages

Loughborough Building Society

Loughborough Building Society has launched a variable discounted mortgage at 3.39% (1.60% discount) for three years. The maximum loan-to-value is 80%. A fee of £499 is payable. The deal is available to both purchase and remortgage borrowers and there is the flexible option to overpay up to 10% of the outstanding balance.

Loughborough Building Society has introduced new variable discounted deals this week. At 3.39% this particular offer is one of the top six discounted rates over a three-year period at 80% loan-to-value, customers with a 20% deposit should find this deal particularly attractive.

Post Office

Following a review, Post Office has launched a new fixed rate mortgage range with an attractive five-year deal. Offering a rate of 3.59% to 31.3.17, the product has a maximum loan-to-value of 75% and a minimum advance of £25,001. An incentive package includes no arrangement fees, free valuation fees and a £300 rebate on completion.

This five-year deal at 3.59% from Post Office is one of the lowest 75% loan-to-value rates for this term in the market. Customers with a 25% deposit will also have assistance with the set-up costs as there are no arrangement fees or valuation fees to pay and in addition there is a welcomed £300 rebate.

Savings

Marks and Spencer Money

Marks and Spencer Money has launched a new variable rate Cash ISA paying 3.00%. Savers can invest a minimum of £100 and £25 if via direct debit. Transfers in are accepted. Earlier access is allowed via a nominated account. The account is available to savers aged 16 and over by post or telephone.

Marks and Spencer Money has launched an Advantage Cash ISA which is available by telephone and post. At 3.00% this is one of the top five paying variable ISAs currently available on the market. In addition, customers can make transfers in and access their funds without penalty which will be welcomed.

Aldermore

Following a review of its savings range, Aldermore has launched a new variable rate Cash ISA paying 3.15%. A monthly option is also available with a rate of 3.11%. Savers can invest a minimum of £1,000. Transfers in are accepted. Earlier access is subject to 60 days’ interest penalty and must be made via a nominated account. The account is available to savers aged 18 and over by telephone, post or online.

This new 60 Day Notice Cash ISA from Aldermore is available online, by telephone and by post, which will reach a wider audience of applicants. Savers will be pleased with a market-leading rate as it tops the best buys for variable Cash ISAs at 3.15%. Customers need to be aware that any earlier access will be subject to a 60 days’ loss of interest penalty.

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