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Money in a Minute

Money in a Minute

Category: Money

Updated: 31/12/2012
First Published: 13/12/2012

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 It is now over 6 months old so the content may be out of date.

Money in a Minute

13 December 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.

Savings

Triodos Bank

Triodos has launched a five-year fixed rate bond paying 2.95% upon its anniversary or a monthly option paying the same rate. Savers can invest from £500 up to a maximum of £1 million. No early access or further additions are permitted. This account is available to savers aged 16 and over and can be operated via post and online.

Triodos has re-launched its popular five-year fixed rate ethical savings bond. Paying a competitive 2.95%, this bond sits within the top ten in the long-term savings market. This is likely to prove popular to those who are not only looking for a great rate but looking to invest ethically as well.

Halifax

Halifax has launched a new 18-month tracker bond paying a rate of 1.98% monthly, which is guaranteed to pay 1.50% above base rate. Savers can invest from £500. No further additions are allowed, but early access is permitted on closure with a penalty of 135 days' loss of interest. This account is available to all savers and can be operated via telephone, in branch and online.

This new product from Halifax pays a competitive rate of 1.98%, which is guaranteed to pay 1.50% above base rate. It is good to see Halifax launch a savings product particularly with the recent trend of rates reducing steadily. No further additions are allowed, but earlier access on closure is permitted with a 135 day loss of interest.

Mortgages

West Brom Building Society

West Brom Building Society has launched a new five-year fixed rate priced at 3.39% to 28.2.18. It is available to first and second-time buyers who borrow from £25,001 at 80% loan-to-value. A fee of £748 is payable. This deal also has the added flexibility of being able to make overpayments up to a maximum of £999 every month.

West Brom BS has re-priced its mortgage range including the five-year fixed rate at 80% loan-to-value. Now priced at 3.39% to 28.2.18, this deal sits comfortably at the top of its sector. The fee of £748 is reasonable and much lower than the competition so is bound to prove popular with those looking to keep initial costs down.

Yorkshire Building Society

Yorkshire Building Society has reduced selected fixed rates in its range including the three-year fixed now priced at 4.64%. This deal is available to all customers who borrow between £75,000 and £500,000 at 90% loan-to-value. A fee of £495 is payable. The deal offers a of £500 rebate incentive on completion of the mortgage and also has the added flexibility of being able to make overpayments up to a maximum of 10% of the mortgage advance.

It's great to see a rate reduction on a high loan-to-value deal, with this offer now priced at 4.64%. Although there are lower alternatives available, this deal combined with a reasonable rate, low fee of £495 and £500 rebate is bound to be highly attractive.

What Next?

Find the best savings rates for you - Compare savings accounts

Find the best mortgage rate - Compare the best 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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