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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 04/11/2011

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 It is now over 6 months old so the content may be out of date.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.

Savings

Halifax- Product details

  • Halifax has increased selected fixed rates across its savings range.
  • The new three year Fixed Online Saver account pays a good rate of 4.10% on its anniversary.
  • Savers who wish to receive their interest monthly are paid a rate of 4.03%.
  • Investments range between £500 and £5 million.
  • Further additions are not allowed whilst the issue is open.
  • Early access is permitted upon account closure only and is subject to 270 days' loss of interest.
  • The account is available to savers aged 16 and over and can be operated online only.

Moneyfacts.co.uk analysis

This new three year fixed bond pays a rate of 4.10% and should attract some attention from investors looking for a decent medium term bond. This bond allows savers to access funds upon closure of the account if they wish, subject to 270 days' loss of interest.

Allied Irish Bank (GB) - Product details

  • Allied Irish Bank's new two year Fixed Rate Bond pays a rate of 3.80% on its anniversary.
  • Savers can invest between £1,000 and £2 million.
  • Further additions are not permitted.
  • Early access is allowed at the provider's discretion and is subject to a 90 days' loss of interest in year one and 60 days' in year two.
  • This deal is available to savers aged 18 and over and can be operated by post and telephone.

Moneyfacts.co.uk analysis

Allied Irish Bank has re-entered the medium term bond market with the launch of this new two year fixed rate bond, which falls in amongst the current top deals for its term. The flexibility to access funds at the provider's discretion should certainly add to its appeal.

Find the best savings rates for you - Compare savings accounts

Mortgages

Northern Rock - Product details

  • Northern Rock has launched a new two year fixed rate remortgage deal, which can be applied for via intermediaries only.
  • Offering a rate of 3.19% to 1.1.14, this deal has a maximum loan-to-value of 75% and customers can borrow up to a maximum of £1 million.
  • The product has no arrangement fee and additional incentives of a free valuation, free legal fees and a £500 rebate.
  • Overpayments of up to 10% of the outstanding balance can also be made.

Moneyfacts.co.uk analysis

This new deal offers remortgage borrowers a decent rate of 3.19% to 1.1.14. As well as a good rate, this deal offers a great all-round package with no arrangement fee and a host of generous incentives which should please borrowers looking to keep their costs to a minimum.

ING Direct - Product details

  • Selected fixed rates have increased by up to 0.15% across ING Direct's mortgage range.
  • The latest three year fixed rate deal offers a rate of 3.79% to 30.11.14.
  • The maximum loan-to-value is 80% and customers can borrow between £50,000 and £500,000.
  • As well as there being no arrangement fee, purchase borrowers will receive a refund on their valuation, while those remortgaging can enjoy incentives of a free valuation and free legal fees.

Moneyfacts.co.uk analysis

This new three year fixed deal from ING Direct offers borrowers a great rate of 3.79% to 30.11.14. Available via direct business only, this product offers a great overall package to both purchase and remortgage borrowers looking for a good mid-term mortgage.

Find the best mortgage rate - Compare best selling mortgages

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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