Best money products this week
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For easy-access ISA savings…

  • Post Office Money has launched an easy-access ISA paying 1.50% yearly including a bonus of 0.85% for 12 months. Savers can invest from £100. Additions and unlimited withdrawals are permitted. Transfers in from cash and stocks & shares ISAs are welcomed. This deal is for savers aged 16 and over and can be operated online only. Savers will also have the flexibility to split their ISA investment between Post Office Money’s ISA range.
  • Verdict: Savers who are looking to shelter their savings from tax will be excited by this latest launch from Post Office Money. Priced at 1.50%, this deal is highly competitive and sits at the top of its sector. With the extra flexibility of savers being able split their investment across Post Office Money’s competitive ISA products, this deal is likely to be an extremely popular choice.

For one-year fixed-rate ISA savings...

  • United Bank UK has increased the rate on its one-year ISA paying 1.65% upon its anniversary. Savers must invest from £2,000. Additions and early access to funds are not permitted. However transfers in from cash and stocks & shares ISAs are allowed. This deal is for savers aged 18 and over and can be operated in branch, by post and online.
  • Verdict: This one-year fixed rate bond paying 1.65% is highly competitive and heads straight for the Moneyfacts.co.uk Best Buys. This is an ideal product for savers looking to maximise their ISA interest in the shorter term. However, with no early access to funds, savers must ensure they are happy with their initial investment.

For five-year fixed-rate mortgages… 

  • Virgin Money has reduced its five-year fixed rate, which is now priced at 3.19% to 1.5.20. This deal is for all customers who borrow up to £500,000 at 85% loan-to-value. A fee of £1,094 is payable, of which £995 can be added to the advance of the mortgage. An incentive package of £300 rebate for house purchase customers and free valuation and free legal fees for those remortgaging is available. This deal has the flexibility to make overpayments of up to 10% of the outstanding balance as well as take payment holidays.
  • Verdict: The 3.19% five-year fixed rate from Virgin Money is highly competitive and heads straight to the Moneyfacts.co.uk Best Buys. Not only will customers benefit from the lowest rate in its sector, but borrowers will be able to enjoy a great incentive package, which will help minimise any upfront costs making this an attractive option for many. Virgin Money’s lending area includes Scotland.

For two-year variable mortgages...

  • TSB has reviewed its two-year variable rate mortgage, which is now priced at 1.84% to 30.4.17. This deal is for house purchase customers who borrow between £5,000 and £1 million at 60% loan-to-value. A fee of £265 is payable. This deal has the flexibility to make overpayments of up to 10% of the outstanding balance as well as take payment holidays.
  • Verdict: Borrowers looking for a high-street lender will be intrigued by this latest offering from TSB. Priced 1.84% this two-year variable rate deal is highly-competitive sitting comfortably towards the top of the market. With a low fee of £265, this is likely to prove to be a cost-effective choice for many. TSB’s lending area includes Scotland.

For loans… 

  • Tesco Bank has reduced the rate on its unsecured personal loan. Customers who borrow between £7,500 and £15,000 over one to five years can now apply for a 3.8% APR loan. Borrowers must be 18 or over and can apply over the phone or online.
  • Verdict: It's unsurprising that Tesco Bank enters the Moneyfacts.co.uk Best Buys with an attractive rate of 3.8% APR for borrowing £7,500 over five years. This is great deal for customers looking to consolidate their debts.

Thanks to Charlotte Nelson from Moneyfacts

  • Find out how to bank online here. Plus read how to get the best rates by improving your credit rating here.