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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 03/02/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

Mortgages

Chelsea Building Society

  • Chelsea Building Society has launched a new five-year fixed rate mortgage offering a rate of 3.19% to 31.3.17.
  • The maximum loan-to-value is 70% and customers can borrow a minimum of £25,001.
  • A fee of £1,495 is payable.
  • Customers also have the option to make overpayments of up to 10% of the mortgage advance. The deal is available to all borrower types.
This latest fixed deal at 3.19% from Chelsea Building Society is the lowest fixed rate for a five-year period. All borrower types with a 30% deposit can apply. The deal has the added flexibility to make overpayments of up to 10% of the mortgage advance.

NatWest

NatWest has reduced rates on its fixed rate mortgage range and the most notable is the new two-year deal.

  • Offering a rate of 3.09% to 31.3.14, the product has a maximum loan-to-value of 75% and a minimum advance of £25,000.
  • An arrangement fee of £999 is payable.
  • Borrowers who are looking to remortgage can take advantage of free valuation fees and legal fees.

This new two-year fixed mortgage deal from NatWest offers a decent rate of 3.09% to 31.3.14. In addition, customers looking to remortgage can take advantage of the extra incentives on offer, such as free valuation fees and free legal fees. Borrowers can also make overpayments of up to 10% of the mortgage advance.

Savings

Leeds Building Society

  • Leeds Building Society has extended the bonus period on its Postal Bonus Saver account, paying a variable rate of 3.01% including a bonus of 1.51% to 28.2.13.
  • Savers can invest between £5,000 and £1 million.
  • No advance notice is needed to access funds.
  • The account is available to savers aged 18 and over and can be operated by post only.

Leeds Building Society's Postal Bonus Saver pays a market-leading rate of 3.01% for non internet no notice accounts. Savers may also be attracted to the fact that there are no penalty fees for accessing funds, although they must be aware that at least £5,000 is required to open the account.

FirstSave

  • After a review of its fixed rate range, FirstSave has launched a one-year fixed rate bond paying 3.60% on maturity.
  • Investments range between £1,000 and £2 million, however, savers who choose the monthly interest option, at 3.54%, must invest a minimum deposit of £5,000.
  • Further additions and early access are not permitted.
  • The account is available to savers aged 18 and over online only.

This latest online one-year fixed rate bond from FirstSave pays a rate of 3.60%, which is the joint market leader for this term. Customers will also be pleased with a decent monthly rate, but they must be willing to deposit at least £5,000.

Compare the best mortgage rates

Compare the best savings rates and accounts

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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