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.
AA has broadened their fixed rate portfolio with the launch of this market leading 2 year postal bond. This deal should prove popular with savers as unlike many bonds, it does offer the flexibility for access to funds during the term subject to a penalty, and additional funds can be added whilst the issue remains open.
Nationwide Building Society
Nationwide Building Society is rewarding its existing customers of three months or more with the launch of a new loyalty bond. Paying 3.80% for a two-year term it is a market leader in its field. The highly competitive monthly option will appeal to those looking to supplement their income. Unlike many short to medium term bonds earlier closure is permitted, but it does incur a 180 days' interest penalty.
Coventry Building Society
A fee of £199 is payable upfront, plus an additional £800 which can be added to the advance. Customers will benefit from a good incentive package of free valuation (maximum £670) and free legal fees for those remortgaging. Borrowers will also have the flexibility to make lump sum or regular payments or reduce capital by up to a maximum of 5% of the outstanding balance (minimum £1,000). A payment holiday of three months every year is also available.
This two-year fixed rate of 3.39% at 65% is now in the top quartile at this loan-to-value. This product offers a reasonable fee of £999 and a decent incentive package of a free valuation for all borrowers and free legal fees for those wishing to remortgage. The ability to offset this mortgage to reduce overall costs will attract borrowers further.
NatWest Mortgage Services
NatWest Mortgage Services has made a dramatic reduction to its five-year fixed rate for first time buyers, now priced at 4.79% to 31.10.17. This deal is now one of most competitive first time buyer deals in this sector. Customers can benefit from no arrangement fee, which will help those trying to keep initial set up costs down.
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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