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Money in a Minute

Money in a Minute

Category: Money

Updated: 17/05/2012
First Published: 17/05/2012

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 It is now over 6 months old so the content may be out of date.
Welcome to Money in a Minute, your one-stop-shop for the best new personal finance products on the market.

This week we look at two new savings accounts from Halifax and Sainsbury's Bank and two new mortgages from HSBC and Shepshed Building Society.

As usual, products are broken up into technical details and impartial product analysis, so you can be sure the information is 100% reliable.

Mortgages

HSBC - Product details

HSBC has reviewed rates across its mortgage range. The variable for term product at 85% LTV now offers a competitive rate of 3.99% (BBR + 3.49%). Available to purchase and remortgage borrowers, this deal has the appealing features of no arrangement fee and a free valuation, whilst remortgage customers will receive free legal fees.

Moneyfacts.co.uk analysis

This variable tracker deal from HSBC offers a great rate of 3.99% to customers with deposits of 15% or more. As well as a top rate, this deal offers a host of generous incentives for purchase and remortgage borrowers who are looking to keep costs down.

Shepshed Building Society - Product details

Shepshed Building Society has launched a new five-year fixed deal at 5.99% with a maximum loan-to-value of 95%. The deal is available to first, second time and remortgage borrowers residing in England and Wales and a fee of £999 is payable.

Moneyfacts.co.uk analysis

This new high LTV deal from Shepshed Building Society should prove popular with borrowers looking to take their first steps onto the property ladder, with a decent rate of 5.99% for five years and a reasonable fee of £999. The product is not available to borrowers purchasing new build properties.

Savings

Halifax - Product details

Despite reductions to its fixed ISA range by 0.25%, Halifax's five year ISA Saver Fixed deal pays a competitive rate of 4.25% on its anniversary to savers with a minimum investment of £500. Further additions are not permitted. Early access to funds is allowed on account closure, subject to 365 days' loss of interest. Transfers in are accepted. The account is available to savers aged 16 and over and can be operated in branch or by telephone.

Moneyfacts.co.uk analysis

Halifax 's long term bond continues to perform well in the fixed rate ISA market, with a rate of 4.25%. Savers can access their funds early should they wish, although they must be aware that a hefty loss of interest penalty will apply.

Sainsbury's Bank - Product details

Following a slight reduction to its rate, the eSaver Special continues to pay a competitive 2.70% on its anniversary. Savers can invest between £1,000 and £100,000 and no advance notice is needed to access funds. The account is available to investors aged 18 and over and can be operated online only.

Moneyfacts.co.uk analysis

Paying a decent rate of 2.70%, the eSaver Special sits in second place in the internet savings market. This account should prove popular with savers as it offers the combination of a competitive rate and flexibility to access funds at short notice.

Find the best savings rates for you - Compare savings accounts

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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