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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 27/09/2012

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 It is now over 6 months old so the content may be out of date.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

Derbyshire Building Society

  • Derbyshire Building Society has reviewed its popular no notice account NetSaver, which now pays 2.75% yearly including a 1.75% bonus to 28.2.14.
  • Savers can invest from £1,000 up to a maximum of £5 million.
  • This account is available to savers aged 16 and over and can only be operated online.

This review from Derbyshire Building Society sees its NetSaver account now paying 2.75% including a bonus of 1.75% until 28.2.14. This account still maintains a good position in the top ten in its sector. With unlimited withdrawals allowed it should continue to prove popular with internet investors.

Principality Building Society

  • Principality Building Society has launched a new 20 month fixed rate cash ISA, paying 3.23% on maturity.
  • Savers can invest from £500.
  • Withdrawals are only permitted on closure with 180 days loss of interest, additions up to the personal limit are allowed whilst the issue remains open, transfers in are also accepted.
  • The account is available to savers aged 16 and over and can be operated via branch, post, telephone and internet.

This fixed ISA review from Principality Building Society sees a new 20 month bond added to its ISA portfolio. Offering a fixed rate of 3.23%, it is highly competitive in the one to two year sector. This account should prove popular to investors looking for a good rate on a short to medium term and who want to benefit from tax free savings. As with many fixed accounts, withdrawals are only permitted on closure with loss of interest, but additions up to the personal limit are allowed whilst the issue remains open.

Mortgages

Santander

  • Santander has launched a new five-year fixed rate deal to its range priced at 3.19% to 2.11.17.
  • This deal is available to all borrowers who borrow between £6,000 and £550,000 at 60% loan-to-value.
  • A fee of £1495 is payable, but the whole fee can be added to the advance of the mortgage.
  • An incentive package is available of free valuation fees (max £1,190), £250 rebate on completion or the option of free legal fees for remortgage customers.
  • This deal also comes with the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance.

Santander has launched a new five-year fixed rate deal priced at 3.19% to 2.11.17 at 60% loan-to-value. On rate alone this is a competitive product in its sector with a generous incentive package for both house purchase and remortgages customers. Some borrowers may be put off by the large fee of £1,495, however, this whole amount can be added to the advance of the mortgage.

Yorkshire Building Society

  • Yorkshire Building Society has made several reductions across its mortgage range.
  • Benefiting from these reductions is the new two-year fixed rate deal priced at 4.79% to 31.12.14.
  • This deal is available to first time buyers only who borrow between £75,000 and £500,000 at 90% loan-to-value.
  • No fee is payable and the deal comes with an incentive package of free valuation fees, free legal fees and a £500 rebate on completion.
  • This package offers several flexibility features including the ability to make overpayments up to 10% of the outstanding balance, as well as take payment holidays and underpayments.

Yorkshire Building Society has made various amendments to its product range including the two-year fixed rate now priced at 4.79% for first time buyers only. Although there are lower rates available elsewhere this deal benefits from a fully stocked incentive package of free valuation fees, free legal fees and a £500 rebate on completion, which is bound to prove popular with those who are looking to keep initial costs down.

What Next?

Find the best savings rates for you - Compare savings accounts

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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