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.
Shawbrook Bank has increased the rate on its one-year fixed rate bond to 2.25% on maturity. 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 aged 18 and over and can be operated by internet or post only.
Paying 2.25%, this newly priced one-year fixed rate bond from Shawbrook Bank enhances its appeal. When compared to accounts in its sector, this deal sits just shy of the market leader. This should be a popular choice for those looking for a straightforward short-term bond.
krbs has increased its two-year fixed rate bond to 2.46% yearly or a monthly option paying 2.43%. Savers can invest from £1,000 up to a maximum of £1 million. No additions are permitted with this account; however, early access is allowed subject to 180 days' loss of interest. This deal can be operated by branch and post only.
This one-year fixed rate paying 2.46% from krbs now sits amongst the top ten in its sector. This deal should be a popular choice for those looking for a straightforward short-term fixed rate. Those who opt for this deal will have the flexibility of a monthly option at a slightly reduced rate to supplement their income.
Yorkshire Building Society
Yorkshire Building Society has revamped its range including its two-year fixed rate now priced at 4.39% to 30.6.15. This deal is available to first-time buyers only who borrow between £75,000 and £500,000 at 90% loan-to-value. A fee of £130 is payable. The incentive package includes a free valuation and £1,000 rebate on completion of the mortgage. This deal also has the added flexibility of being able to make overpayments, underpayments and take payment holidays.
First-time buyers will not be disappointed by this latest two-year fixed rate from Yorkshire Building Society. Priced at 4.39%, this rate is reasonably competitive in the market. This deal offers great incentives including a free valuation and £1,000 rebate, making it a suitable package for first time buyers.
Melton Mowbray Building Society
Melton Mowbray Building Society has reduced its three-year discounted rate now priced at 2.49% (2.50% discount). This deal is available to all borrowers who borrow from £100,000 at 65% loan-to-value. A fee of £798 is payable, £599 of which can be added to the advance of the mortgage. An incentive package of free legal fees for remortgage customers is available. This deal also has the added flexibility of being able to make overpayments up to a maximum of 10% of the outstanding balance per annum. An offset facility is also available
The 2.49% three-year discounted variable rate from Melton Mowbray Building Society is highly competitive. Borrowers will enjoy a reasonable fee of £798 and remortgage customers can benefit from free legal fees. With savings rates currently low, those looking to get the best from their savings can benefit from the offset facility available.
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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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