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Money in a Minute

Money in a Minute

Category: Money

Updated: 25/11/2011
First Published: 25/11/2011

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 It is now over 6 months old so the content may be out of date.

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

Principality Building Society

  • Principality Building Society has launched a one-year regular saver account which pays a highly competitive fixed rate of 5.01% on maturity.
  • Savers can invest a minimum of £20 per month up to a maximum of £300.
  • Early access is allowed on closure only, subject to an interest penalty.
  • The account can be operated in branch by savers aged 16 and over.

At 5.01% the Christmas regular saver bond is one of the highest paying regular savers available and is aimed at helping consumers save for next Christmas. Whilst early closure of the account is permitted before the maturity date of 29 November 2012 it does incur a hefty interest penalty, so encouraging the savings habit.

krbs

  • Krbs has reviewed is fixed ISA range, which sees the launch of a five-year flexible fixed rate cash ISA paying 4.35% yearly.
  • Savers can invest a minimum of £1,000.
  • Early access is allowed subject to 180 days' loss of interest.
  • Transfers in are accepted.
  • The account can be operated by post or branch by savers aged 16 and over.

At 4.35%, the five-year fixed ISA is amongst the top rates around, especially for those looking to transfer previous years' funds. The fact that withdrawals are permitted, albeit subject to 180 days' loss of interest, is a definite plus and uncommon in the fixed ISA market.

Find the best savings rates for you - Compare savings accounts

Mortgages

Yorkshire Building Society

  • The latest mortgage deal from Yorkshire Building Society offers a rate of 2.99% to 28 February 2014.
  • The maximum loan-to-value is 70% and customers can borrow between £25,001 and £5 million.
  • A host of incentives are offered including free valuation fees and free legal fees for those remortgaging.

The two-year fixed deal from Yorkshire BS has a £495 fee and a generous incentive package, giving borrowers the choice of a low rate without having to pay high set-up costs. Due to the overall appeal, this product retains its position in the Moneyfacts best buys.

HSBC

  • HSBC has launched a discounted variable mortgage of 3.84% for two years (0.10% discount).
  • The maximum loan-to-value is 90% and customers can borrow up to £400,000.
  • A host of incentives are offered including free valuation fees and free legal fees.

This is a new market-leading product from HSBC which will appease borrowers with a 10% deposit. There are no fees to pay, plus the incentive of free legal and free valuation fees makes this is a very competitive deal.

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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