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Money Masterclass

Money Masterclass

Category: Money

Updated: 11/02/2011
First Published: 10/02/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Today's Money Masterclass showcases the best new launches in the savings and mortgage markets.

The products have been pinpointed by our renowned and impartial research team. So you can be sure that they sit at the top of the respective classes.

To make the products easier to understand, technical details and first class analysis have been provided, so you can be sure whether you've found the right deal for you.


Santander - Product details

  • Santander has launched its latest issue of the eSaver, paying a rate of 2.90% including a bonus of 2.40% for 12 months.
  • A monthly interest option is available at 2.86%, including a bonus of 2.36% for 12 months.
  • Investments between £1 and £2million can be made.
  • No advance notice is required to access funds, although there is a maximum daily cash machine withdrawal limit of £300.
  • Savers must be aged 16 and over to operate this online only account.

Moneyfacts analysis

A rate increase of 0.15% to 2.90% sees this product sitting comfortably amongst the other no notice market leaders. The account does not require advance notice to access funds, although there is a limit of £300 for those wishing to make withdrawals from cash machines.

Northern Rock - Product details

  • Northern Rock's new Branch Saver pays 2.05%.
  • Savers can invest between £1 and £250,000.
  • Funds can be accessed immediately without advance notice or penalty.
  • The account is available to savers aged 16 and over and, as the name suggests, can be operated in branch only.

Moneyfacts analysis

Savers who prefer to conduct their business in branch will be pleased with the rate increase of 0.15% to the Branch Saver product. The deal should appeal to investors with varying deposit amounts, and at 2.05% has boosted its position within the instant access branch account sector.

Find the best savings rates for you - Compare savings accounts


HSBC - Product details

  • HSBC has reviewed various mortgage deals, including the launch of its latest variable rate at 2.29% for term with a maximum loan-to-value of 60%.
  • A fee of just £99 is payable and remortgage borrowers can enjoy free legal fees.
  • There is also the opportunity to make overpayments.

Moneyfacts analysis

HSBC has made various amendments to its mortgage product range. The latest variable for term rate at 2.29% is a good deal for those with a deposit of 40% or more. In addition to a low rate and fee, no early redemption charge is payable making it possible to switch to another mortgage should base rate increase.

Norwich & Peterborough Building Society - Product details

  • Norwich & Peterborough Building Society has withdrawn and replaced a large number of its fixed rate products.
  • One of the more notable deals is the revised two year mortgage at 4.18% for two years.
  • Customers can borrow up to 85% of the property value and a fee of £995 is payable.
  • No incentives are offered although there are a host of flexible features such as the option to make overpayments, underpayments and the chance to take payment holidays.

Moneyfacts analysis

Despite a rate increase to many of its fixed rate mortgages, Norwich & Peterborough BS still offers some reasonably attractive deals. The two year product re-priced to 4.18% offers customers an 85% loan-to-value, a low fee of £995 and a variety of flexible features, which help to enhance this deal's appeal.

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.