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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 15/03/2013

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 It is now over 6 months old so the content may be out of date.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


Santander

  • Santander has launched a no notice cash ISA paying 2.50%.
  • Introductory bonuses for twelve months are included with the rate, depending on the amount invested.
  • Savers need to invest from £2,500.
  • Withdrawals are permitted with this account and transfers in are accepted.
  • This account is available to savers aged 16 and over and can be operated via internet and telephone.

Santander has launched a highly competitive notice ISA. Paying 2.50%, it sits amongst the market leaders in its sector. This deal is great for those not looking to tie their money down; however, a review will be required before the bonus period expires to ensure competitive returns are maintained.


Leeds Building Society

  • Leeds Building Society has launched a new three-year fixed rate ISA paying 2.60% yearly.
  • Savers can invest from as little as £1.
  • Additions are permitted whilst the issue remains open.
  • Penalty-free up to 25% of the investment are permitted, but any further withdrawals will be subject to 120 days' loss of interest.
  • Transfers in from another ISA are also permitted with this account.
  • The account is available to savers aged 16 and over and can be operated via branch and post.

This new three-year fixed rate ISA paying 2.60% from Leeds Building Society goes straight into the top ten in its sector. Savers who opt for this deal will be able to enjoy the added flexibility of penalty-free of withdrawals up to 25% of the investment. With transfers in accepted this deal is likely to appeal to investors looking to transfer across their previous ISA savings.

Mortgages

West Brom Building Society

  • West Brom Building Society has launched a new three-year fixed rate priced at 2.75% to 31.5.16.
  • This deal is available to first and second-time buyers only who borrow from a minimum of £25,001 at 80% loan-to-value.
  • A fee of £1,094 is payable all of which can be added to the advance of the mortgage.
  • An incentive package of free valuation up to a maximum of £525 is available.
  • This deal also has the added flexibility of being able to make overpayments.

Borrowers will not be disappointed with this three-year fixed rate from West Brom Building Society. At 2.75%, this deal sits comfortably at the top of the market in its sector. With a free valuation available this deal is bound to prove popular for those looking for a straightforward fixed rate deal over the medium term.


Holmesdale Building Society

  • Holmesdale Building Society has amended its popular two-year discounted variable rate now priced at 2.29% (2.60% discount).
  • This deal is available to all borrowers who borrow between £26,000 and £750,000 at 75% loan-to-value.
  • A fee of £495 is payable.
  • Remortgage customers will also receive a refunded valuation up to a maximum of £250 and free legal fees.
  • This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance.

This amended two-year discounted variable rate priced at 2.29% from Holmesdale Building Society is very competitive and is now a market-leading deal in its sector. This deal also has the added bonus of a low fee and great incentive package for remortgage customers, which help keep any initial upfront costs to a minimum.

What Next?

Find the best savings rates for you - Compare savings accounts

Find the best mortgage rate - Compare the best mortgage

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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