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Money in a Minute

Money in a Minute

Category: Money

Updated: 17/02/2012
First Published: 17/02/2012

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 It is now over 6 months old so the content may be out of date.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

Mortgages

Loughborough Building Society

  • Loughborough Building Society has launched a variable discounted mortgage at 3.39% (1.60% discount) for three years.
  • The maximum loan-to-value is 80%. A fee of £499 is payable.
  • The deal is available to both purchase and remortgage borrowers and there is the flexible option to overpay up to 10% of the outstanding balance.

Loughborough Building Society has introduced new variable discounted deals this week. At 3.39% this particular offer is one of the top six discounted rates over a three-year period at 80% loan-to-value, customers with a 20% deposit should find this deal particularly attractive.

Post Office

  • Following a review, Post Office has launched a new fixed rate mortgage range with an attractive five-year deal.
  • Offering a rate of 3.59% to 31 March 2017, the product has a maximum loan-to-value of 75% and a minimum advance of £25,001.
  • An incentive package includes no arrangement fees, free valuation fees and a £300 rebate on completion.

This five-year deal at 3.59% from Post Office is one of the lowest 75% loan-to-value rates for this term in the market. Customers with a 25% deposit will also have assistance with the set-up costs as there are no arrangement fees or valuation fees to pay and in addition there is a welcomed £300 rebate.

Savings

Marks and Spencer Money

  • Marks and Spencer Money has launched a new variable rate Cash ISA paying 3.00%.
  • Savers can invest a minimum of £100 and £25 if via direct debit.
  • Transfers in are accepted.
  • Earlier access is allowed via a nominated account.
  • The account is available to savers aged 16 and over by post or telephone.

Marks and Spencer Money has launched an Advantage Cash ISA which is available by telephone and post. At 3.00% this is one of the top five paying variable ISAs currently available on the market. In addition, customers can make transfers in and access their funds without penalty which will be welcomed.

Aldermore

  • Following a review of its savings range, Aldermore has launched a new variable rate Cash ISA paying 3.15%.
  • A monthly option is also available with a rate of 3.11%.
  • Savers can invest a minimum of £1,000.
  • Transfers in are accepted.
  • Earlier access is subject to 60 days' interest penalty and must be made via a nominated account.
  • The account is available to savers aged 18 and over by telephone, post or online.

This new 60 Day Notice Cash ISA from Aldermore is available online, by telephone and by post, which will reach a wider audience of applicants. Savers will be pleased with a market-leading rate as it tops the best buys for variable Cash ISAs at 3.15%. Customers need to be aware that any earlier access will be subject to a 60 days' loss of interest penalty.

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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