Money in a Minute - Money - News - Moneyfacts

News

Money in a Minute

Money in a Minute

Category: Money

Updated: 08/03/2013
First Published: 08/03/2013

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 It is now over 6 months old so the content may be out of date.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 a 60-day notice account paying 2.01% yearly.
  • Savers can invest from £1,000 up to a maximum of £75,000.
  • Up to six withdrawals are allowed per year on advance notice of 60 days'.
  • Early access is not permitted.
  • The account is available to savers aged 18 and over and can be operated via branch and post.

Manchester Building Society has launched a highly competitive 60-day notice account. Paying 2.01%, it sits within the top five of all notice accounts and is a market-leading 60-day notice product. Whilst withdrawals are limited to just six per calendar year, this is unlikely to deter investors looking for a higher return.

Tesco Bank

  • Tesco Bank has increased the rates on its no notice cash ISA which now pays 2.30% on its anniversary, and includes a bonus of 0.30% for 12 months.
  • Savers can invest from as little as £1.
  • Although this account has no withdrawal restrictions, it does not accept transfers in from another cash ISA.
  • The account is available to savers aged 18 and over and can be operated via internet or telephone.

The no notice account from Tesco Bank now paying 2.30% has increased its competitiveness and moved into the top five in its sector. With no withdrawal restrictions and only a small bonus it should appeal to those who have yet to invest this year's ISA allowance.

Mortgages

HSBC

  • HSBC has reviewed selected rates across its range including its variable rate for term now priced at 2.99%.
  • This deal is available to all borrowers who borrow up to a maximum of £1 million at 70% loan-to-value.
  • No fee is payable.
  • 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.

This revamped variable rate for term priced at 2.99% from HSBC is highly competitive in what is a small sector of the market. Customers will enjoy no arrangement fees to pay and a great incentive package, which should help minimise borrowers' upfront costs.

Norwich & Peterborough Building Society

  • Norwich & Peterborough Building Society has reduced selected rates in its range including its three-year fixed rate mortgage priced at 2.64%.
  • This deal is available to all customers who borrow from £25,001 at 75% loan-to-value.
  • A fee of £795 is payable, all of which can be added to the advance of the mortgage.
  • This deal also has the added flexibility of being able to make overpayments up to a maximum of 10%, underpayments and take payment holidays.

This amended three-year fixed rate priced at 2.64% from Norwich & Peterborough Building Society is very competitive sitting in the top five in its sector. This deal carries a reasonable fee of just £795, with the added bonus of being able to add the whole fee to the advance of the mortgage. This deal is bound to prove popular for those looking for a straightforward fixed rate deal over the medium term.

What Next?

Find the best savings rates for you - Compare savings accounts

Find the best mortgage rate - Compare the best mortgage

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.

Related Articles

77% of Christmas gifts unwanted

Research from Policy Expert has revealed that while Brits spend an average of £424 on presents for friends and family, more than three quarters (77%) of these gifts may be unwanted.

New Year tips to improve children’s money skills

How many have better budgeting as their New Year’s resolution? As with many things, these skills are best learned when young, so Lemonade Money has come up with some tips to help parents make their children more financially savvy.

Money worries lead to Christmas on credit

Money worries are putting Christmas at risk for up to five million Brits, with 10% saying they regularly worry about money in the lead up to Christmas, and the same proportion feeling stressed about how much they are spending.
 
Close