14 February 2013
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.
Nationwide Building Society has launched a four-year fixed rate ISA paying 2.70% upon its anniversary. Savers can invest from £1. Transfers in from another ISA are permitted; however, no further additions are allowed. Early access to funds is allowed on closure of the account and is subject to 320 days' loss of interest. This account is available to savers aged 16 and over and can be operated in branch only.
Nationwide Building Society has launched a market-leading four-year fixed rate ISA paying 2.70%. This deal is highly competitive and sits comfortably at the top of its sector. Transfers in are accepted, so this account should prove very popular with investors. Savers need to bear in mind that they must deposit as much as possible from the outset as additions are not permitted.
Virgin Money has launched a new two-year fixed rate bond paying 2.65% yearly with a monthly option paying 2.62%. Savers can invest from as little as £1 up to a maximum of £1 million. Early access to funds is not permitted; however, additions are allowed whilst the issue remains open. This account is available to savers aged 16 and over and can be operated by branch, post or online.
This latest two-year fixed bond from Virgin Money paying 2.65% is highly competitive in what continues to be a very busy market. This deal just sits shy of the current market leader in the two-year sector. With a monthly option available, this bond should prove popular with those savers looking to supplement their income.
Norwich & Peterborough Building Society has launched a new ten-year fixed rate priced at 3.99%. This deal is available to all borrowers who borrow from £25,001 at 75% loan-to-value. A fee of £295 is payable. £200 cashback is available for house purchase customers with remortgages customers receiving the option to take the cashback or receive a free valuation. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10%, underpayments and take payment holidays.
Borrowers looking for a long-term mortgage deal will be surprised by this latest deal from Norwich & Peterborough Building Society. Offering a competitive rate of 3.99%; this product also benefits from a small arrangement fee and a host of incentives, which make this deal highly attractive.
Furness Building Society has launched a new three-year fixed rate priced at 3.69% to 31.5.16. This deal is available to all borrowers who between £20,000 and £500,000 at a maximum of 85% loan-to-value. A fee of £499 is payable, all of which can be added to the advance of the mortgage. An incentive package for remortgage customers of free valuation fees up to a maximum of £335 and free legal fees is available. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the mortgage advance.
This new three-year fixed rate from Furness Building Society is highly competitive. Priced at 3.69%, this deal is now the lowest rate in the 85% loan-to-value sector. Alongside a great rate is a low arrangement fee of £499 and remortgage customers can enjoy a good incentive package. Offering an all-round package, this deal is likely to be a popular choice.
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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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