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Money in a Minute

Money in a Minute

Category: Money

Updated: 18/01/2013
First Published: 18/01/2013

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 It is now over 6 months old so the content may be out of date.

18 January 2013

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

Lloyds TSB

Lloyds TSB has re-vamped its two-year fixed rate ISA paying from 2.15% at £3,000 up to 2.20% at £10,000. Further additions to the account are permitted whilst early access will incur a 180 days' loss of interest penalty. Transfers in to the ISA are also permitted. This account is available to savers aged 16 and over and can be operated by branch, internet and telephone.

Lloyds TSB has increased its rates on selected longer-term fixed rate products, including its two-year fixed rate ISA paying from 2.15%. This deal is highly competitive and sits within the top ten for its term. Savers will have the extra flexibility to make further additions to the account as well as withdrawals, although this will result in 180 days' loss of interest.

Virgin Money

Virgin Money has re-entered the one-year fixed rate market with the launch of a new bond paying 2.25% yearly or a monthly option of 2.23%. Savers can invest from as little as £1 up to a maximum of £1 million. No early access is permitted; however, further additions are permitted whilst the issue remains open. This account is available to savers aged 16 and over and can be operated via branch, post and internet

This new one-year fixed rate bond from Virgin Money paying 2.25% is highly competitive. This deal sits comfortably in the top five when compared against other one-year bonds. This deal should suit an investor who is looking for a straightforward account for the short term.

Compare the best savings rates with Moneyfacts Best Buys

Mortgages

Loughborough Building Society

Loughborough Building Society has launched a new two-year fixed rate priced at 2.79% to 31.3.15. This deal is available to all borrowers who borrow from £25,000 up to a maximum of £250,000 at 80% loan-to-value. A fee of £599 is payable, all of which can be added to the advance of the mortgage. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance.

This new two-year fixed rate from Loughborough Building Society priced at 2.79% to 31.3.15 is highly competitive and sits just shy of the market leader. A reasonable fee of £599 is payable, which should make this deal a popular choice for borrowers who are looking for a simple fixed rate mortgage.

Yorkshire Building Society

Yorkshire Building Society has launched a new two-year fixed rate priced at 1.99% to 31.3.15. This deal is available to all borrowers who borrow between £25,001 and £5 million at 60% loan-to-value. A fee of £995 is payable. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance as well as take payment holidays.

The latest addition to Yorkshire Building Society's range is a highly competitive fixed rate of 1.99% to 31.3.15. This is the lowest rate available at this term at 60% loan-to-value. Although there is no incentive package available, it has a reasonable fee of £995 which increases this product's overall appeal.

Compare the best mortgage rates with Moneyfacts Best Buys

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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