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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 25/01/2013

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 It is now over 6 months old so the content may be out of date.

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


Vanquis Bank
  • Vanquis Bank has reviewed its two-year fixed rate bond now paying 2.51% upon its anniversary or a monthly option of 2.48%.
  • Savers can invest from £1,000 up to a maximum of £250,000.
  • No early access or additions are permitted.
  • This account is available to savers age 18 and over and can be operated online only.

Vanquis Bank has increased the rates on selected fixed rate bonds, including its two-year which now pays 2.51%. This deal is highly competitive and sits within the top five for its term. This deal should prove popular with internet investors who are looking for a straightforward fixed rate bond.


Shawbrook Bank
  • Shawbrook Bank has reviewed selected fixed rate bonds including its five-year fixed rate now priced at 3.10% yearly.
  • Savers can invest from £5,000 up to a maximum of £2 million.
  • No early access is permitted; however, additions are allowed whilst the issue remains open.
  • This account is available to savers age 18 and over and can be operated by post and telephone.
This five-year fixed rate bond paying 3.10% from Shawbrook Bank is highly competitive. This deal has improved its position within the long term sector to a market-leading rate. This bond also has the added flexibility of additions being permitted whilst the issue is open.

Mortgages


Chelsea Building Society
  • Chelsea Building Society has launched a new two-year fixed rate deal priced at 1.99% to 30.4.15.
  • 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 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 mortgage advance, as well as making underpayments and taking payment holidays.

Chelsea Building Society has launched a new two-year fixed rate. Priced at 1.99%, this deal is highly competitive and sits as a market leader in its sector. This deal boasts a reasonable fee of £995 which is lower than rival deals and should keep borrowers' initial costs to a minimum. For those who are looking to reduce the overall cost of the mortgage an offset option is available at a slightly higher rate.


Nationwide Building Society
  • Nationwide Building Society has reduced selected two-year fixed rates across its range, including the newly priced 2.49%.
  • This deal is available to all customers who borrow between £25,000 and £1 million at 60% loan-to-value.
  • A fee of £999 is payable with a £500 discount for first-time buyers.
  • Customers remortgaging will receive an incentive package of a free valuation, free legal fees or a £250 rebate.
  • This deal also has the added flexibility of being able to make overpayments of up to £500 each month.

The two-year fixed rate deal priced at 2.49% from Nationwide Building Society is reasonably competitive. This deal offers a reasonable fee, with first-time buyers enjoying a £500 discount. Customers remortgaging will receive a good incentive package of a free valuation, free legal fees or a £250 rebate, which should appeal to those looking to keep initial costs down.

What Next?

Compare the best savings rates with Moneyfacts Best Buys

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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