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Money in a Minute

Money in a Minute

Category: Money

Updated: 05/04/2012
First Published: 05/04/2012

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 It is now over 6 months old so the content may be out of date.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


Post Office

Product details
Post Office has launched a new fixed rate mortgage of 3.99% to 30.6.17. The maximum loan-to-value is 80%. The minimum advance is £25,001 available to all customers in Great Britain and Northern Ireland . There is a fee of £995 payable. There is also the option to make overpayments of up to 10% of the outstanding balance. analysis
With a competitive rate of 3.99%, this five-year fixed rate mortgage is a great addition to the long-term fixed mortgage market. The deal sits comfortably within the top five lowest rates for 80% loan-to-value. As an added flexible feature, borrowers can make overpayments of up to 10% of the outstanding balance.

Newcastle Building Society

Product details
A new fixed rate mortgage of 5.65% to 30.6.14 has been launched by Newcastle Building Society. The maximum loan-to-value is 95%. Advances range between £10,000 and £250,000, available to all customers in Great Britain and Northern Ireland . A range of incentives are on offer such as a free valuation for purchase customers and free legal fees or a £300 rebate for those looking to remortgage. analysis
This fee-free deal from Newcastle Building Society offers a rate of 5.65% for two years. This is the best fee-free fixed rate deal over a two-year period for those with a 5% deposit. With a host of incentives including a free valuation for house purchases and free legal fees or a £300 rebate for those remortgaging, the deal is attractive in more ways than just by rate alone.


Nationwide Building Society

Product details
Nationwide Building Society has made a variable rate review. Most notable is the MySave Online Plus account paying 3.12% on maturity for a £25,000 investment. The rate includes a bonus of 1.62% for 12 months. Savers who invest between £1,000 and £24,999 can obtain a rate of 2.81%, which includes a 1.31% bonus for 12 months. Maximum investment is £5 million. Only one withdrawal is permitted per year, otherwise withdrawals will be subject to an interest penalty, bringing the rate down to either 0.41% or 0.10% depending on tier. The account can be operated online by investors aged 16 and over. analysis
Savers looking to invest a larger deposit for a reasonable return will find the MySave Online Plus a good investment. The account is the fourth most competitive no notice account based on a £25,000 investment and savers who invest a lower amount will still get a decent return of 2.81%. Investors must review the rate before the introductory bonus expires and they need to be careful making withdrawals as only one is permitted per year penalty free.

BM Savings

Product details
BM Savings has launched a 1 Year Fixed Rate bond paying 3.50%. A monthly rate of 3.45% is also available. Savers can invest between £1 and £10 million and additions can be made whilst the issue remains open. Early access is not permitted. The account can be operated by post only by savers aged 16 and over, although initial applications can be made online for those aged 18 or over. analysis
Offering a rate of 3.50%, this fixed-rate bond is one of the top three paying accounts over a one-year period. Its appeal is further boosted as further additions can be made whilst the issue remains open with a minimum investment of £1. Although the account can only be operated by post, it can be opened online subject to age restrictions.

What next?

Compare mortgages
Compare savings accounts

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.