Published: 06/05/2021 Share
The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Savings
Among various updates across its range of savings products, this week Cynergy Bank has lifted the existing customer restriction on its Online Easy Access Account. Paying a rate of 0.40% and open to investments of as little as £1, this account takes the lead position in our top rate tables when compared against other similar easy access accounts that offer a bonus. Savers looking to maintain flexible access to their savings pot could well be tempted by the return, but may wish to consider scheduling a review after 12 months when the bonus will expire and the rate reduces by 0.10%. The account secures an Excellent Moneyfacts product rating.
Foreign holidays and nights out are less important to Britons than they were before lockdown, a new survey has revealed.
Instead, daily walks, spending lots of time with family and being able to work from home have become a greater priority than they were a year ago.
The study, of 2,000 adults, found 43 per cent have completely re-evaluated life and what really matters to them since the pandemic.
Plans for travelling, having loads of money and a nice car were once a top priority of many Britons.
But having spent months stuck at home under strict Covid lockdown rules, Britons are now looking close to home for the activities that make them happy, according to the study.
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Skipton Building Society has partnered with Rightmove in a move that will see the society use the platforms enhanced automated valuation data technology.
The move brings benefits for residential lending purposes as more customers will benefit from an automated valuation at the point of application and may be able to receive day-one offers, provided the case has been properly packaged.
The technology gathers data from more sources too, which means customers can take comfort in the knowledge that they’ll have the most up-to-date mortgage valuation for the property.
More than eight out of 10 brokers use the affordability calculators of up to six lenders when sourcing a single case, according to Mortgage Brain.
Attendees of Mortgage Brain’s Virtual Mortgage Vision Masterclasses in March were polled on their habits when sourcing deals for clients.
The survey found that 84.5% visited the affordability calculators of between one and six lenders on each case, while 58% rarely used an affordability calculator from a non-top 10 lender.
The study identified other occasions when brokers spend large amounts of time on manual tasks, with 81.5% spending more than 15 minutes keying in the details for a decision in principle (DIP) or full mortgage application.