7 December 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.
Yorkshire Building Society has launched Christmas Regular Saver 2013 paying 2.75% on maturity. Savers can invest from £10 and must make regular contributions of £10 up to a maximum of £80. If three regular payments are missed or one withdrawal is made a 1.00% loss of interest is incurred. This account can be operated in branch and by post.
Yorkshire Building Society has launched a regular savings account for savers who are looking to save Christmas for 2013. Paying 2.75%, this is highly competitive and encourages savers to budget for next Christmas. As is common with this type of account, terms and conditions apply in order to achieve the maximum return.
Sainsbury's Bank has launched a new two-year fixed rate bond paying 2.60% on its anniversary or a monthly option paying the same rate. Savers can invest from £5,000 up to a maximum of £50,000. No early access or further additions are permitted. This account is available to savers aged 18 and over and can be operated via the internet or telephone.
It is good to see Sainsbury's Bank launching a two-year fixed rate bond particularly when savings rates are currently falling. Paying 2.60%, this deal sits within the top ten in the market. The monthly option paying the same rate should appeal to those looking to supplement their income. As with many bonds, no earlier access to funds or additions is permitted.
Principality Building Society has launched a new four-year fixed rate priced at 3.79% to 31.12.16. This deal is available to all borrowers who borrow between £5,000 and £250,000 at 85% loan-to-value. A fee of £999 is payable of which £900 can be added to the advance.
Principality Building Society has launched a new four-year fixed rate priced at 3.79%. This is a very competitive rate at 85% loan-to-value and sits comfortably at the top of the market. The fee of £999 is reasonable especially when £900 can be added to the advance, which can help keep initial costs down.
Nottingham Building Society has reduced the rate on its five-year fixed deal to 3.69% to 1.2.18. It is available to all customers who borrow a minimum of £30,000 at 80% loan-to-value. The deal comes with a fee of £999, where £800 can be added to the advance. An incentive package of free valuation for all borrowers and 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 up to a maximum of £500.
It's great to see a rate reduction on a high loan-to-value deal, with this offer now priced at 3.69%. This rate is highly competitive and sits comfortably in the top ten. This two-year option is bound to be popular to borrowers with a 20% deposit as customers will benefit from a reasonable fee and an incentive package of free valuation and free legal fees for remortgages customers.
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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