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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 27/05/2011

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 It is now over 6 months old so the content may be out of date.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

Barnsley Building Society

Barnsley Building Society has launched its new Fixed Rate Online ISA paying 3.15% on its maturity date of 31 July 2012. A minimum investment of £100 is required, while further additions are allowed whilst the issue remains open and transfers in are accepted too. Earlier access to funds is permitted on closure of the account, subject to 120 days' loss of interest. The account is available to savers aged 16 and over.

Barnsley Building Society has re-entered the short term fixed ISA market with this new deal paying 3.15% at maturity. Sitting comfortably amongst the top accounts in its field, savers will be pleased with the further additions and early access features, although the latter is subject to 120 days' loss of interest.

Sainsbury's Finance

Selected Fixed Rate Saver rates have increased by up to 0.15%, with the two year Fixed Rate Saver account increased by 0.10% to 3.95%. Savers can invest between £5,000 and £50,000, but further additions and early access are not allowed. The account is available to investors aged 18 and over and can be operated by telephone and online.

The latest fixed rate product review from Sainsbury's Finance sees the new two year deal at 3.95% settle amongst the top deals for its term. As is common with many fixed rate bonds, no earlier access is permitted so investors must be committed to locking money away for the full term.

Find the best savings rates for you - Compare savings accounts

Mortgages

Nationwide Building Society

Nationwide Building Society's five year fixed rate mortgage has reduced by 0.10% to 4.49%. This deal has a maximum loan-to-value of 70% and a low fee of £99, with customers able to borrow between £25,000 and £10 million. Remortgage borrowers can enjoy incentives of free legal fees and a free valuation. There is also the option for all borrowers to make overpayments and underpayments.

Nationwide Building Society's latest product review sees the launch of a newly priced five year fixed deal at 4.49%. This is a highly competitive product, offering a good rate, a low arrangement fee, generous borrowing amounts, flexible features and incentives for remortgage customers.

Mansfield Building Society

The discounted variable rate of 3.59% for three years, for remortgages only, has been reduced to 3.29% (2.30% discount). The maximum loan-to-value remains at 80%, with borrowing amounts between £25,001 and £300,000. The deal has no arrangement fee and offers generous incentives of a free valuation and the choice of either £250 or free legal fees. Borrowers can also make overpayments of up to 10% of the mortgage advance.

Mansfield Building Society has made changes to its range of discounted variable products, with its three year deal reduced by 0.30% to 3.29%. This deal combines a competitive rate with no arrangement fee, incentives and flexible features. It offers a great package to customers looking to remortgage and keep costs to a minimum.

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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