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Money Masterclass

Money Masterclass

Category: Money

Updated: 23/12/2010
First Published: 23/12/2010

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 It is now over 6 months old so the content may be out of date.

The Moneyfacts.co.uk Money Masterclass showcases the best of the latest products to hit the consumer finance market.

We've got a couple of savings Christmas crackers this week from FirstSave and Coventry BS and a merry fixed rate mortgage from Santander.

As always, all the products we highlight include technical product details and independent analysis.

Savings

FirstSave -Product details

FirstSave's latest one year bond pays a rate of:

  • 3.25% on maturity.
  • Savers can invest between £1,000 and £2,000, although those opting for monthly interest at 3.20% must make a minimum deposit of £5,000.
  • Earlier access and further additions are not permitted.
  • Savers must be aged 18 and over to operate this online only account.

Moneyfacts.co.uk analysis

An increase of 0.25% to 3.25% sees this rate soar to the top of the one year fixed rate bond market. Designed specifically for online savers, the deal should suit those wishing to lock their money in over a short period. A monthly interest option is available at 3.20%, although savers must ensure they can invest a minimum of £5,000.

Coventry Building Society - Product details

Coventry Building Society's new Fixed Bond (128) 30.4.2016 pays:

  • A market leading rate of 4.75%.
  • Savers can invest between £1 and £250,000 and further additions can be made whilst the issue remains open.
  • Early access is allowed subject to 180 days' loss of interest.
  • The account is available to savers aged 16 and over and can be operated in branch, by telephone or online.

Moneyfacts.co.uk analysis

At 4.75%, this new rate from Coventry Building Society has stormed to the top of the five year fixed rate bond market. With a great rate and investments of between £1 and £250,000, the deal should appeal to savers looking for a guaranteed return over the long term. Unlike other fixed rate bonds there is the flexibility for savers to withdraw funds, although this is subject to a 180 day loss of interest penalty.

Find the best savings rates for you - Compare savings accounts

Mortgages

Santander - Product details

Santander has added some new deals to its fixed rate mortgage range.

  • The latest two year deal of 2.99% to 2nd March 2013 should interest customers wishing to borrow up to 70% of the property value.
  • The product has a reasonably low booking fee of £795 and offers incentives of a free valuation and £250 rebate on completion.
  • Borrowers also have the option to make overpayments of up to 10% of the outstanding balance.
Moneyfacts.co.uk analysis

Santander has added some new fixed rate mortgages to its range including a new two year deal at 2.99%. Borrowers should be pleased with the maximum loan- to- value of 70%, fee of £795, generous incentives of a free valuation and £250 rebate, plus the flexibility to make overpayments.

Find the best mortgage rate - Compare best selling mortgages

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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