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Money in a Minute

Money in a Minute

Category: Money

Updated: 10/03/2015
First Published: 30/09/2011

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 It is now over 6 months old so the content may be out of date.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



  • Aldermore has increased the rate on its Easy Access account by 1.35% to 2.85%.
  • A monthly interest option is also available at 2.81%.
  • Savers can invest between £1,000 and £1 million.
  • Funds can be accessed without advance notice or penalty, although all withdrawals must be made via a nominated account.
  • The account is available to investors aged 18 and over and can be operated by post, telephone or online.

A rate increase of 1.35% has boosted the Easy Access account into a market-leading position. The guarantee of the AER to be at least 1.80% above base rate until 1.3.13 is also an attractive feature of this competitive account.


  • SAGA has launched a new 3 Year Fixed Rate Savings bond paying 4.20% on its anniversary.
  • Savers can invest between £1 and £10 million and further additions can be made whilst the issue remains open.
  • Early access is allowed, although it is subject to penalty depending on the remaining term as follows:
    • Up to three years: 270 days loss of interest,
    • Up to two years; 180 days and
    • One year or less remaining; 90 days.
  • The account can be operated by post only by savers aged 50 and over.

With a competitive new rate of 4.20%, the new 3 Year Fixed Rate Savings account sits comfortably amongst the current market leaders in the medium term market. Early access is permitted during the term, although savers must be aware that there will be a penalty depending on the outstanding term.

Find the best savings rates for you - Compare savings accounts


Northern Rock

  • Northern Rock has amended various fixed rates across its range this week.
  • Most notable is the new three year deal offering 3.15% to 1.12.14.
  • Available via intermediaries only, this product has a maximum loan-to-value of 70% and a maximum borrowing limit of £1 million.
  • Incentives of a free valuation and free legal fees are offered to remortgage customers.

Benefiting the most from Northern Rock's latest product changes is the new three year fixed deal at 3.15% to 1.12.14. Borrowers looking to keep costs to a minimum can benefit from no arrangement fee and an incentive package for remortgages of free valuation and free legal fees, whilst there is also the flexibility to make overpayments of up to 10% of the outstanding balance.

Building Society

  • Yorkshire Building Society has reduced selected fixed rates across its range.
  • The new two year fixed offset deal offers a rate of 2.69% to 30.11.13 and has a maximum loan-to-value of 75%.
  • Borrowing advances range between £25,001 and £1 million.
  • A low fee of £495 is payable.
  • Free legal fees are offered to those remortgaging and purchase borrowers will receive a £250 rebate.
  • A free valuation is offered to all borrowers.

The latest set of rate reductions to its fixed rate range includes a new rate of 2.69% to 30.11.13. This deal allows customers to offset their savings against their mortgage and offers a competitive package to borrowers with a deposit of 20% or more. As well as generous incentives, customers can also take advantage of a host of flexible features including overpayments, underpayments and payment holidays.

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.