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Money in a Minute

Money in a Minute

Category: Money
Date: 27/12/2012

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.

Savings

Virgin Money

Virgin Money has launched a two-year fixed rate bond paying 2.65% yearly or a monthly option of 2.62%. Savers can invest from as little as £1 up to a maximum of £1 million. No early access is permitted however further additions can be made whilst the issue remains open. This account is available to savers 16 and over and can be operated by branch, post or online.

Virgin Money has launched a two-year fixed rate bond paying 2.65%. This bond is highly competitive in what continues to be an ever evolving market. This deal sits comfortably in the top five in this sector; however, as with many short-term bonds no early access to funds are permitted.


Triodos Bank

Triodos Bank has reviewed its no notice account Online Saver Plus now paying 2.00% yearly, which includes a 1.00% bonus for 12 months. Savers can invest from as little as £1 up to a maximum of £250,000. Only three withdrawals are permitted per year, with further withdrawals resulting in a penalty of 0.10% interest paid during each withdrawal month. This account is available for savers aged 16 and over and can be operated online only.

This review by Triodos Bank sees the Online Saver Plus maintaining its competitive position when compared to similar accounts. Although there are only three free withdrawals permitted per year, this should not be an issue for savers seeking an ethical investment. A review of the rate will be required before the bonus period ends to ensure competitive returns.

Find best buy easy access and instant access savings accounts

Mortgages

Hanley Economic Building Society

Hanley Economic Building Society has launched a new five-year fixed rate mortgage priced at 5.49% to 31.3.18. This deal is available to first time buyers who borrow £30,000 to £475,000 at 95% loan-to-value. A fee of £200 is payable. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance.

The new three-year discounted variable rate mortgage from Hanley Economic Building Society is reasonably competitive. With a low fee of £200 and a small deposit of 5% required, this deal is bound to prove popular for first time-buyers.


first direct

first direct has launched a new variable tracker rate mortgage for term priced at 4.79%. This deal is available to first and second time buyers who borrow £10,000 to £399,999 at 90% loan-to-value. No fee is payable and a free valuation incentive is available. This deal also has the added flexibility of being able to make overpayments. Non first direct customers will be required to open a current account when applying for this deal.

first direct has launched a new variable tracker rate for term at 90% loan-to-value, for house purchase customers only. At 4.79% the deal has the lowest initial rate in this sector. The addition of no fee and the incentive of a free valuation make this deal even better value for money. However, non first direct customers will be required to open a current account when applying for this deal.

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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