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Money in a Minute

Money in a Minute

Category: Money

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

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 It is now over 6 months old so the content may be out of date.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

Manchester Building Society

  • Manchester Building Society has launched Premier Tracker, a notice account paying 1.75% yearly.
  • This account has a rate guarantee of 1.25% above bank base rate until 30.6.14.
  • Savers can invest from £1,000 up to a maximum of £75,000.
  • Twelve withdrawals are permitted per year on 30 days' notice, and no earlier access is permitted.
  • This account is available to savers aged 18 and over and can be operated in branch and by post.

It's good to see Manchester Building Society launch new savings deals when many accounts are currently being withdrawn from the market. The Premier Tracker paying 1.75% is reasonably priced and sits comfortably in the market. The fact that this account offers a rate guarantee of 1.25% above bank base rate until 30.6.14, should give investors a little more confidence in their variable rate staying competitive.

Mortgages

Nottingham Building Society

  • Nottingham Building Society has reduced its three-year discounted variable rate to 3.99% (2.00% discount).
  • This deal is available to all borrowers who borrow a minimum of £30,000 at 90% loan-to-value.
  • A fee of £299 is payable and an incentive package of free valuation and free legal fees for remortgage customers is available.
  • This deal also has the added flexibility of being able to make overpayments.

Nottingham Building Society has made a significant reduction to its three-year discounted rate which is now priced at 3.99%. On rate alone this deal is highly competitive and sits comfortably towards the top of its sector. With a low fee of £299 and a good incentive package of free valuation and free legal fees for remortgage customers, this deal is bound to prove popular.

HSBC

  • HSBC has amended selected fixed rates across its range including the two-year fixed rate priced at 4.19% to 30.4.15.
  • This deal is available to all customers who borrow up to a maximum of £400,000 at 90% loan-to-value.
  • A fee of £599 is payable; however, this is reduced if an advance or premier current account is held.
  • An incentive of free legal fees for remortgage customers accompanies this deal.
  • This deal also has the added flexibility of being able to make overpayments up to a maximum of 20% of the mortgage payment per month.

HSBC's newly priced 4.19% to 30.4.15 mortgage now sits in the top ten in its sector. The addition of the low fee and free legal fees for remortgage customers should make this deal a popular choice for those who have a smaller deposit.

Loans

Tesco Bank

  • Tesco Bank has reduced the rate of its personal loan by 0.5% APR.
  • Offering a rate of 5.2% APR, this loan is available to customers who wish to borrow between £7,500 and £15,000 over four to five years.

This latest reduction by Tesco Bank pushes this deal into the top position in the best buys for unsecured personal loans. The rate of 5.2% APR for borrowing amounts of £7,500 to £15,000 is one of the most competitive in the market available for new customers over a five-year term.


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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