Money in a Minute - Money - News - Moneyfacts

News

Money in a Minute

Money in a Minute

Category: Money

Updated: 31/12/2012
First Published: 18/08/2011

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 It is now over 6 months old so the content may be out of date.
Today's 'Money in a Minute' showcases the best new launches in the savings and mortgage markets over the past week.

The products featured have been handpicked by the impartial research team here at Moneyfacts.co.uk, so you can be sure they are some of the best deals in their respective fields.

To make sure you fully understand the products, the technical details behind the plans are followed by our analysis.

Savings

Leeds Building Society - Product details

  • Leeds Building Society has launched the new Online Access Account (Issue 5) paying 3.05% including a bonus of 2.55% until 31.8.12.
  • With effect from 1.9.12, the rate will track base rate.
  • Savers can invest between £100 and £1 million.
  • Funds can be accessed without advance notice or penalty, although all withdrawals must be made via a nominated account.
  • Investors must be aged 18 or over.

Moneyfacts.co.uk analysis

Leeds Building Society has re-entered the online savings market with a competitive new deal paying 3.05% including a bonus of 2.55%. This product should appeal to savers who wish to access their funds early without incurring penalties.

Halifax - Product details

  • Despite a reduction in rate of 0.20%, the Web Saver Extra account continues to pay a competitive rate of 2.30% on its anniversary.
  • Savers can invest between £1 and £9 million.
  • Only one penalty free withdrawal is allowed per year and all subsequent withdrawals will be subject to 90 days' loss of interest.
  • The account is available to savers aged 11 and over and can be operated online only.

Moneyfacts.co.uk analysis

The latest variable rate review by Halifax has seen a 0.20% reduction on its popular Web Saver Extra. At 2.30%, it continues to sit in the top ten no-notice internet accounts without bonuses. Although this is classed as a no-notice account, savers must be aware that only one notice and penalty-free withdrawal is allowed per year. Failure to adhere to this will result in a 90 days' loss of interest penalty.

Find the best savings rates for you - Compare savings accounts

Mortgages

ING Direct - Product details

  • A review of its two and five year fixed rate mortgages has seen reductions of up to 0.30%.
  • The new five year rate of 4.44% to 30.11.16 has a maximum loan-to-value of 80% and customers can borrow between £50,000 and £500,000.
  • There is no arrangement fee and remortgage borrowers have incentives of a free valuation fee and free legal fees.
  • First and second time buyers will receive a refund on their valuation fees.
  • There is also the opportunity to make overpayments of up to 10% of the mortgage advance.

Moneyfacts.co.uk analysis

This latest five year fixed mortgage from ING Direct offers a competitive rate to borrowers with a deposit of at least 20%. This deal should appeal to both purchase and remortgage customers looking to keep initial set-up costs to a minimum.

NationalCounties Building Society - Product details

  • National Counties Building Society has launched a new five year discounted variable rate deal at 2.99% (1.70% discount).
  • The maximum loan-to-value is 80% and first, second time and remortgage customers can borrow between £20,000 and £350,000.
  • A completion fee of £495 is payable.
  • Overpayments of up to 10% of the outstanding balance can be made.

Moneyfacts.co.uk analysis

This new five year discount deal sits comfortably at the top of the market, and should please borrowers with a deposit of at least 20%. As well as a good rate, this product also has a reasonably low fee of £495.

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.

Related Articles

New Year tips to improve children’s money skills

How many have better budgeting as their New Year’s resolution? As with many things, these skills are best learned when young, so Lemonade Money has come up with some tips to help parents make their children more financially savvy.

Money worries lead to Christmas on credit

Money worries are putting Christmas at risk for up to five million Brits, with 10% saying they regularly worry about money in the lead up to Christmas, and the same proportion feeling stressed about how much they are spending.

Would you spend more for a character property?

We all have our own ideas of what makes a dream home, and for many, character features are at the top of the list. But how much more would you be willing to pay for those kinds of additions – and could they even help you save money in the future?
 
Close