20 December 2012
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.
National Counties Building Society has launched a new one-year fixed rate bond paying 2.39% yearly or a monthly option of 2.36%. Savers can invest from £5,000 up to a maximum of £150,000. No early access or additions are permitted with this bond. This account can be operated in branch, post and online.
National Counties Building Society has launched a one-year fixed rate bond, which is good to see particularly when many deals have currently been withdrawn from the market. This account offers a highly competitive rate which sits within the top ten in its sector; however, as with many short-term bonds no early access to funds or additions are permitted.
BM Savings reviewed its two-year fixed rate bond which now pays a tiered rate of 2.35% at £1 up to 2.75% at £50,000 upon its anniversary. Further additions can be made whilst the issue remains open and early access to funds is permitted, although this is subject to penalty depending on the outstanding term of the deal. This account is available to savers aged 16 and over and can be operated by post only.
This fixed review sees BM Savings buck the recent market trend and increase the rate on its two-year fixed bond. This deal offers a highly competitive rate for small and larger deposits alike. The fact that earlier access is also permitted subject to a penalty will be seen as a plus in the current climate. An additional attractive feature is that savers can kick-start the savings from as little as £1.
Market Harborough Building Society has amended its three-year fixed rate mortgage now priced at 3.25% to 31.12.15. This deal is available to all borrower types who borrow £50,000 to £350,000 at 80% loan-to-value. A fee of £250 is payable. The incentive package includes refunded valuation up to a maximum of £550, 3 months' refunded accident, sickness and unemployment insurance and for remortgage customers free legal fees. 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 underpayments and take payment holidays.
Market Harborough Building Society has today further enhanced its three-year fixed rate priced at 3.25% to 31.12.15. Alongside its low rate, this product also boasts a reasonable fee of £250 and an attractive incentive package including a 3 month refund for accident, sickness and unemployment insurance, a refunded valuation (maximum £550) and for remortgage customers free legal fees, making this a great overall package which is bound to prove popular.
Mansfield Building Society has launched a new three-year discounted variable rate to its range, priced at 4.69% (0.90% discount). This deal is available to all borrower types who borrow £25,001 to £200,000 at 90% loan-to-value. A fee £1,299 is payable of which £199 is payable upfront. An incentive package of refunded valuation up to a maximum of £400 is available. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the mortgage advance.
The new three-year discounted variable rate mortgage from Mansfield Building Society is reasonably competitive. Although the fee of £1,299 is higher than most of its rivals, £1,100 of the fee can be added to the advance. This deal also offers refunded valuation fees to a maximum of £400 which will help towards reduce upfront costs.
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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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