Money in a Minute
2 August 2012
This week's 'Money in a Minute' gives you the lowdown on the best new launches in the savings and mortgage market.
The products featured have been handpicked by the impartial research team here at Moneyfacts.co.uk, so you can be sure they are all up there with the best deals in their respective fields.
To make sure you fully understand the products, we outline the technical details behind the plans before giving you our invaluable and insightful analysis.
Aldermore has reviewed its one-year fixed rate account with an increase of 0.30% to 3.45% on maturity or a monthly option of 3.40%. Savers can invest from £1,000 to a maximum of £1 million. Early access to funds and further additions are not permitted. This account is available to savers aged 18 and over and can be operated by post, internet and telephone.
This review by Aldermore sees it increase the rate on its one-year fixed rate account by 0.30%, which greatly improves its position in the market. Paying 3.45%, this is now the market leader for a one year period. At 3.40% monthly, it is also an attractive rate for anyone seeking to supplement their income. In common with most short term bonds, no access to funds is permitted during the term.
Sainsbury's Bank has launched a new fixed rate bond to its range. The Fixed Rate Saver pays 3.65% on its anniversary for two years. Savers can invest from £5,000 to a maximum of £50,000. No earlier access or additions can be made. This account is available to savers aged 18 and over and can be operated via the internet and telephone.
This review sees Sainsbury's Bank launch a new two-year fixed rate bond to replace those withdrawn earlier this month. The two year Fixed Rate Saver at 3.65% sits comfortably within the top five in its sector. In common with many fixed bonds there is no flexibility for access to funds during the term
West Brom Building Society
West Brom Building Society has launched a new two-year fixed rate priced at 2.95% to 31.8.14. This deal is available to all borrowers who borrow between £25,001 and £250,000 at 75% loan-to-value. A fee of £999 is payable; however, this can be added to the advance. This product offers borrowers the flexibility to make overpayments of up to £999 every month.
This new two-year fixed rate mortgage from West Brom Building Society is now the lowest rate available at 75% loan-to-value. Although it has a fee of £999, this can be added to the advance of the mortgage, which is good for borrowers looking to reduce up-front fees.
Nationwide Building Society
Nationwide Building Society has added a new four-year fixed rate to its range priced at 3.49%. This package is available to all borrowers who borrow between £25,000 and £1 million at 75% loan-to-value. A £999 fee is payable for second time buyers and remortgages customers, whilst first time buyers will benefit from a lower fee of £499. An incentive package of free legal fees and free valuation is available. This deal offers borrowers the flexibility to make overpayments of up to a maximum of £500 every month, as well as underpayments.
This latest addition to Nationwide Building Society's range sees its four-year fixed rate at 3.49% become the lowest rate in the market at 75% loan-to-value. Alongside this, borrowers can enjoy an incentive package of free legal fees and a free valuation, to help keep initial costs down. The added flexibility of this deal will only attract borrowers further.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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