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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 28/10/2011

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 It is now over 6 months old so the content may be out of date.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


Northern Rock

  • Northern Rock has reviewed its online fixed rate ISA range.
  • The one year fixed rate ISA now pays a market-leading rate of 3.35% for savers with deposits of £500 and above, while a lower rate of 0.10% is paid for those with investments between £1 and £500.
  • Further additions can be made up to 30 days after issue closure.
  • Early access is allowed, although this is subject to 60 days' loss of interest. Transfers in are accepted.
  • The account can be operated online only by savers aged 16 and over.

At 3.35%, the Fixed Rate E-ISA Issue 25 is a market leader for its term. Unlike many fixed ISA accounts, there is the option to make withdrawals subject to a penalty of 60 days' loss of interest, which will be seen as a plus in the current financial climate.

BM Savings

  • A new 5 Year Fixed Rate bond has been launched paying a competitive rate of 4.65% on its anniversary.
  • A monthly interest option is available at 4.55%.
  • Savers can invest between £1 and £10 million and further issues can be made whilst the issue is open.
  • Early access is permitted subject to penalty, depending on the outstanding term, as follows: Up to five years, 365 days; up to four years, 320 days; up to three years, 270 days; up to two years, 180 days and for one year or less, 90 days.
  • The account is available to savers aged 16 and over and can be operated by post only.

At 4.65% this new five year bond is a market leader for its term and should prove popular with savers looking for a long-term fixed investment. Early access is allowed, however, to gain fully from the high rates investors need to tie in funds for the longer term, as access penalties are hefty early on.



  • Santander 's latest mortgage update has seen various rates amended.
  • Most notable is the two year fixed rate at 2.64% to 2 December 2013 with a 60% loan-to-value.
  • First, second and remortgage customers can borrow between £6,000 and £550,000.
  • A fee of £995 is payable.
  • Incentives of free valuation fees and a £250 rebate upon completion are available to purchase borrowers, while those remortgaging can enjoy these incentives plus free legal fees.
  • Borrowers also have the option to make overpayments of up to 10% of the outstanding balance.

This latest fixed rate mortgage from Santander offers a decent rate of 2.64% to borrowers with a deposit of 40% or more. This deal's appeal is boosted further by a reasonable arrangement fee and a plethora of generous incentives for both purchase and remortgage customers.

Monmouthshire Building Society

  • Monmouthshire Building Society has launched a new two year discounted variable mortgage offering a highly competitive rate of 2.49% (2.50% discount).
  • Available to purchase borrowers only, the deal has maximum loan-to-value of 70% and allows borrowing between £30,000 and £400,000.
  • A fee of £499 is payable.
  • Borrowers who apply for this mortgage directly, ie not via a broker, will receive a £150 rebate.

Available to purchase customers with a deposit of 30% or more, this competitive new mortgage deal from Monmouthshire Building Society offers discounted rate of 2.49%. A low arrangement fee of £499 and a £150 rebate for direct channel applicants means this deal should prove popular with customers who wish to keep initial costs to a minimum.

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.