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Money in a Minute

Money in a Minute

Category: Money

Updated: 17/08/2012
First Published: 16/08/2012

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 It is now over 6 months old so the content may be out of date.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

Halifax

  • Halifax has reviewed its fixed long term ISA rates with the four-year option now paying 3.80% on its anniversary.
  • Savers can invest from £500 and early access to funds is subject to 320 days' loss of interest.
  • This account is available to savers aged 16 and over and can be operated via branch and telephone.

This review from Halifax sees the four-year fixed rate ISA paying 3.80% continuing to be highly competitive for its term, maintaining its market-leading position. Early closure is permitted but this does incur a rather hefty penalty of 320 days' loss of interest.

National Counties Building Society

This rate review from National Counties Building Society sees an increase of 0.26% to its online saver account. This product is now very competitive within the market and is a top 5 rate for no bonus internet accounts. Offering no notice for withdrawals, it is a very attractive account, and fares very well in the whole sector of similar accounts. With a minimum investment and operating balance of just £1, it's going to prove popular with savers who like to dip in and out saving as and when they want.

Find the best savings rates for you - Compare savings accounts

Mortgages

Post Office

  • The Post Office has revamped it mortgage range with the launch a new five-year fixed rate priced at 3.59% to 30.9.17.
  • This deal is available to all borrowers who borrow between £25,001 and £350,000 at 75% loan-to-value.
  • No arrangement fees are payable with this deal and borrowers will have the flexibility of being able to make overpayments up to 10% of the outstanding balance.

Post Office's new five-year fixed rate at 3.59% to 30.9.17 is highly competitive entering the top of the 75% loan-to-value sector. With the added flexibility of being able to make overpayments and no fee payable, this deal is likely to appeal to all borrowers.

Melton Mowbray Building Society

  • Melton Mowbray Building Society has launched a new three-fixed rate at 5.49% to 31.10.15.
  • This product is available to first time buyers only who borrow from £25,000 and require a loan-to-value of up to 95%.
  • A fee of £998 is payable.
  • This product offers borrowers the added flexibility of being able to make overpayments up to 10% of the outstanding balance and lump sum payments.

Melton Mowbray BS has added a new three-year fixed rate of 5.49% to 31.10.15 to its product range. This deal is aimed at first-time buyers who have a small deposit of only 5%. This deal is one of the few mortgages at this loan-to-value that does not require a guarantor that is reasonably competitive. The fee of £998 is not cheap, but the low rate and lack of higher lending charge should compensate.

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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