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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 20/09/2012

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 It is now over 6 months old so the content may be out of date.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

Savings

Sainsbury's Bank
  • Sainsbury's Banks has increased its Cash ISA rate by 0.21% for new accounts, now paying 3.01% on its anniversary.
  • Savers can invest from £500, funds can be accessed without advance notice and transfers in are accepted.
  • The account is available to investors aged 18 and over and can be operated by telephone and online.

This review sees Sainsbury's Bank buck recent trends and increase the rate offered to new accounts on its variable rate cash ISA. At 3.01%, it offers a highly competitive rate and sits within the top ten of market leading rates. The account flexibility will be highly desirable for people who want a straightforward investment for their tax-free allowance.

National Counties Building Society

  • National Counties Building Society has increased the rate on its no notice account, 1st Issue Online Saver, to 2.75% yearly.
  • Savers can invest from as little as £1 up to a maximum of £2 million.
  • This account is available to savers of all ages and can be operated online only.

This review from National Counties Building Society sees its 1st Issue Online Saver rate increase to 2.75%. This rate is highly competitive, sitting comfortably at the top of the no notice online account market. With a small minimum investment and available to savers of all ages this account is sure to prove popular.

What Next?

Find the best savings rates for you - Compare savings accounts

Mortgages

The Co-operative Bank

  • The Co-operative Bank has reduced its 5-year fixed mortgage by 0.90%, now with a rate of 3.69% to 31.12.17.
  • This deal is available to all borrowers who borrow from £25,000 at 75% loan-to-value.
  • A fee of £999 is payable of which £150 is payable upfront.
  • An incentive package is available to those remortgaging of free valuation and free legal fees.
  • This deal also comes with the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance and up to six months payment holiday.

The Co-operative Bank has reduced its five-year fixed rate mortgage by 0.90%. Now priced at 3.69% to 31.12.17 this cut has significantly improved this deal's position in the market. For those wishing to remortgage a good incentive package is available of free valuation and free legal fees. The additional feature to allow applicants to be flexible with their payments and make overpayments will also be well received.

Chelsea Building Society

  • Chelsea Building Society has reduced rates across its mortgage range.
  • One product benefiting from this reduction is the newly priced seven-year fixed rate at 5.54% to 30.11.19.
  • This deal is available to all borrowers who borrow between £25,001 and £500,000 at 90% loan-to-value.
  • A fee of £395 is payable of which £195 is payable upfront.
  • This deal also offers a £200 rebate and flexible features including the ability to make overpayments up to 10% of the mortgage advance.

Chelsea Building Society has reduced its seven-year fixed rate mortgage by 0.20% now priced at 5.54% to 30.11.19. This deal, which is available up to 90% loan-to-value, offers a low fee of £395 and an incentive of £200 rebate, which will help those looking to keep initial costs down. Customers will need to apply in branch.

What Next?

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.

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