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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 12/07/2012

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 It is now over 6 months old so the content may be out of date.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

Savings


ING Direct

  • ING Direct has amended its no notice Savings Account with an increase in rate to 3.19%, which includes a bonus of 2.69% for 12 months.
  • Savers can invest from £1 up to a maximum of £1,000,000.
  • The account is available to savers aged 18 and over by internet or by telephone.

This increase in rate by ING Direct sees this popular no notice account maintaining its position within the market at 3.19%. As the account includes a bonus of 2.69% for the first 12 months, savers would be wise to review the rate before the bonus expires.


Yorkshire Bank

  • Yorkshire Bank has tweaked its five-year Fixed Term Deposit, priced at 4.05% annually, with a monthly option of 3.98%.
  • Savers can invest from £2,000 up to a maximum investment of £5,000,000.
  • No further additions are allowed and early access is not permitted.
  • The account is available to savers aged 16 and over by all channels

This account from Yorkshire Bank offers a competitive annual rate of 4.05% over a five-year period. The monthly option of 3.98% is also attractive for those looking to supplement their income. As is common in the bond market, no earlier access to funds is permitted and no further additions can be made. However, this deal should prove popular with savers looking to invest over the long term.

Find the best savings rates for you - Compare savings accounts

Mortgages


Skipton Building Society

  • Skipton Building Society has introduced a new ten-year fixed rate deal to its range at 4.49% to 30.9.22.
  • It is available to all customers at 75% loan-to-value, but for first-time buyers there is a maximum borrowing limit of £300,000.
  • A fee of £995 is payable.
  • Remortgage customers will enjoy an incentive package of free valuation and free legal fees.
  • Customers will also have the flexibility to make overpayments up to a maximum of 10% of the outstanding balance and take payment holidays.

The new ten-year fixed deal from Skipton Building Society offers a highly competitive rate at 4.49% to 30.9.22. As well as a market-leading rate, this product has a reasonable fee of £995 and a good incentive package for remortgage customers of free valuation and free legal fees. The added flexibility of this product will also boost its appeal.


Mansfield Building Society

  • Mansfield Building Society has launched a new three-year fixed mortgage with a rate of 3.75%.
  • It is available to all borrower types, at 75% loan-to-value.
  • The maximum borrowing amount is £400,000 and a fee of £199 is payable upfront, with an additional £1,100 which can be added to the advance.
  • Customers will also have the flexibility to make overpayments up to a maximum of 10% of the outstanding balance.
Entering the three-year fixed market, this latest deal from Mansfield Building Society propels it into the top quarter of the market for low rates at 3.75%. The deal will be attractive to borrowers with a healthy 25% deposit and who have a decent budget for upfront costs. A large proportion of the fee can also be added to the mortgage advance and customers can make overpayments each month.

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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