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Money in a Minute

Money in a Minute

Category: Money

Updated: 23/09/2011
First Published: 23/09/2011

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 It is now over 6 months old so the content may be out of date.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, mortgage and credit card markets.

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.



  • Aldermore has launched a competitive range of notice accounts, with its 120 Day Notice account paying 3.20% sitting just below the market leader.
  • Between £1,000 and £1m can be invested in the account, which is operated by post, telephone or online.
  • As the name suggests, savers must give 120 days' notice to make a withdrawal, as earlier access is not permitted.

If savers don't need instant access to their money, but want to benefit from rate rises when they happen then the new account from Aldermore could be a competitive option. The account offers the option of monthly income, which will appeal to savers who want to earn a regular income from their money.

Nottingham Building Society

  • The new E-Saver account from Nottingham Building Society pays 1.81%, but if savers keep the account open until 31 August 2012, a further 1.45% bonus will be payable taking the rate up to 3.26%.
  • Savers can invest between £500 and £250,000 into the online operated account.
  • No notice is required to access funds, but all withdrawals must be made via a nominated account.

In the current easy access market a rate of 3.26% is market leading. As the account is operated online, savers across the UK can benefit from such a competitive rate and not just those within the Nottinghamshire area where the building society has a small branch network.

Find the best savings rates for you - Compare savings accounts


Leeds Building Society

  • Leeds Building Society has reduced selected mortgage rates by up to 0.86%, with the biggest reduction being on its five year fixed rate mortgage, which now charges 4.59% to 30 November 2016.
  • The mortgage has a maximum loan-to-value of 85% and is subject to a low £199 fee.
  • Borrowers benefit from an incentive of free valuation (maximum £335) and for remortgagers free legal fees.

The new mortgage from Leeds Building Society is one of the most competitive offerings for borrowers with at least a 15% deposit. The attractive incentive package will help keep set-up costs to a minimum. Borrowers must take the lender's buildings and contents insurance, otherwise the rate is loaded by 0.24%.


  • Santander has reduced selected mortgage rates by up to 1.10%, with its two-year fixed rate deal charging 3.19% to 2 November 2013.
  • The deal is available up to a maximum loan-to-value of 75% and, unlike on the majority of mortgages, no arrangement fee is payable.
  • Borrowers benefit from a free valuation (maximum £1,190) and free legal fees or a £250 rebate.

On rate alone this deal is by no means the lowest in this sector, but the lack of arrangement fee means that on true cost the mortgage becomes one of the most competitive. The attractive incentive package boosts the overall appeal of the deal.

Find the best mortgage rate - Compare best selling mortgages

Credit Cards

Virgin Money

  • Virgin Money has increased the length of its interest free balance transfer period on its Credit Card MasterCard.
  • The card now offers 0% for 20 months (previously 19 months), subject to a 2.99% fee, minimum £3.
  • No interest is payable on new purchases for the first three months.
  • After any introductory deals end the rate reverts to 16.8% APR.

Sitting just below the market leader for balance transfers, the Virgin Money Credit Card MasterCard holds wide appeal. Providing customers repay the transferred debt within 20 months they can avoid paying additional interest. The revert to 16.8% APR is below average, which increases the appeal of the card.

Sainsbury's Finance

  • Sainsbury's Finance has launched its Low Rate Credit Card charging a market leading 6.9% APR.
  • Customers can transfer balances from other cards at the standard rate, with no balance transfer fee being applied.
  • The card would suit those who occasionally leave a balance on their card or those looking to transfer and existing balance, but can't pay it off within the introductory period.

The new Sainsbury's Finance Low Rate Credit card charges the lowest APR on the market and is 1.0% lower than its nearest rival from Barclaycard. Since the start of the year the credit card market has seen a lot of activity in the introductory balance transfer market, so it is good to see Sainsbury's bucking the trend and offering other options to customers.

Find the best credit card rates - Compare credit cards

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.