Best money deals this week - November 19th
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For savers looking to squirrel money away for two years…

  • Sainsbury’s Bank has increased the rate on its two-year fixed-rate bond which now pays 1.95 per cent upon its anniversary (1.95 per cent monthly). Savers must invest from £5,000 up to a maximum of £50,000. Additions and early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated online only.
  • Verdict: The bond offers savers a straightforward account from a popular brand. This is likely to be a great choice for anyone looking for a monthly option to supplement their income and who want to operate their account online.

For savers wanting better returns over 18 months…

  • Metro Bank has reviewed its 18-month fixed-rate bond, which now pays 2.05 per cent upon its anniversary or 2.03 per cent monthly. Savers can invest from £500, but additions and early access to funds are not permitted. This deal is for savers aged 16 and over and can be operated in branch, by telephone and online.
  • Verdict: This bond is highly competitive and enters the Moneyfacts.co.uk Best Buys as a result. This is a great choice for any saver looking to maximise their interest over the shorter term.

For mortgage borrowers looking to minimise upfront costs…

  • The Co-operative Bank has reduced the rate on its two-year fixed rate mortgage, which is now priced at 2.99 per cent to January 31, 2018. This deal is for first and second-time buyers only who borrow from £25,000 at 90 per cent loan-to-value. No fee is payable. This deal has the flexibility of allowing borrowers to make overpayments of up to 10 per cent of the outstanding balance, make underpayments and take payment holidays. The Co-operative Bank’s lending area includes Scotland.
  • Verdict: Borrowers with a modest deposit of 10 per cent will be intrigued by this latest update from The Co-operative Bank. Priced at 2.99 per cent this deal sits comfortably within the market, and by lacking a fee it should be a popular choice among those looking to minimise any upfront costs.

For borrowers looking for a two-year fixed-rate deal…

  • Newcastle Building Society has launched a new two-year fixed-rate mortgage, priced at 2.27 per cent until January 31, 2018. This deal is for all customers who borrow from £10,000 at 80 per cent loan-to-value. No fee is payable. This deal has the flexibility of allowing overpayments of up to £499 every month. Newcastle Building Society’s lending area includes Scotland.
  • Verdict: This mortgage is reasonably priced in the market. With no fee payable this will be a great choice for any borrower looking for a straightforward fixed rate.

Thanks to Charlotte Nelson of Moneyfacts.

  • 15 ways to save money on a winter holiday here. Plus 10 ways to save money petrol here.