Best money deals this week - November 13th

For savers wanting easy access to cash...

  • Nottingham Building Society has increased the rate paid on its easy-access account, e-Saver Instant Issue 3, by 0.27 per cent to pay a competitive 1.52 per cent yearly. Savers can invest from £500 up to a maximum of £250,000. Further additions and access to funds can be made at any time without penalty or notice. This deal must be operated online by those aged 16 or over.
  • Verdict: The e-Saver Instant from Nottingham Building Society gets a decent interest rate rise, which boosts its appeal and earns it a place in the Best Buys as a result. Paying a competitive 1.52 per cent yearly, savers looking for easy access to funds and simple online management are likely to find this deal appealing.

For savers wanting to squirrel cash away...

  • Shawbrook Bank has increased the rate paid on its 120-day notice account, which now pays 1.90 per cent yearly to secure a market-leading position. Savers can invest from £1,000 up to a maximum of £500,000, but additions are only allowed while the issue remains open and early access is not permitted. This deal must be operated online by those aged 18 or over.
  • Verdict: This latest spell of rate increases from Shawbrook secures its 120-day notice account a market-leading position in the Best Buys. Savers looking for a competitive rate of interest will be delighted by this latest deal but customers must be comfortable tying up their money and make any additions before the issue closes.

For credit-card holders wanting to lower repayments...

  • Barclaycard has lengthened its 0 per interest introductory deal on its 12-month balance transfer credit card to 19 months. The introductory balance transfer fee of 2.00 per cent will be refunded to nil. The card also offers an interest-free deal for purchases for six months. After the deals expire, purchases will be charged at 18.9 per cent APR, while balance transfers will attract a charge of 18.9 per cent per annum.
  • Verdict: Barclaycard continues to offer an array of credit cards for different customers and this latest change will be highly appealing to borrowers looking to move their debts for little cost. Increasing the interest-free deal on balance transfers to 19 months and refunding the balance transfer fee completely makes it one of the few cards on the market to boast a decent interest-free term with no fee.

For borrowers wanting a five-year fixed-rate mortgage...

  • Principality Building Society has amended its mortgage range and now offers a fixed-rate deal priced at 2.75 per cent until December 31, 2020. This deal is for all customers who borrow up to £650,000 at 75 per cent loan-to-value. A fee of £99 is payable upfront and an incentive package of free valuation for all customers and free legal fees for those remortgaging is available. Principality’s lending area excludes Scotland.
  • Verdict: Priced at 2.75 per cent, this five-year fixed rate mortgage from Principality Building Society is a great option for those looking to take advantage of a low rate over a longer fixed period. An appealing incentive package coupled with a low fee makes this a great choice for borrowers who are looking to keep upfront costs to a minimum.

For new borrowers looking for a good deal...

  • Newcastle Building Society has launched a new fixed-rate mortgage range, including a deal priced at 3.19 per cent January 31, 2018. This deal is for all customers who borrow from £10,000 at 90 per cent loan-to-value. There is no product fee to pay and an incentive package of free valuation (max £500K property price) is available for all borrower types. Homebuyers will also get a £300 rebate while remortgage customers will get free legal fees in England and Wales or a £300 rebate in Scotland. This deal has the flexibility of being able to make overpayments.
  • Verdict: Newcastle BS’s new fixed-rate deal has an excellent incentive package and is on offer to borrowers who have a modest 10 per cent deposit. Those looking to keep upfront costs low will find this fee-free deal, which comes with various incentives, including a free valuation and a £300 rebate for purchase customers, highly attractive.

Thanks to Charlotte Nelson of Moneyfacts.

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