For those squirrelling away £1k-plus for five years...
- Secure Trust Bank has re-launched its popular five-year fixed-rate bond, which now pays 3.08 per cent yearly. Savers must invest from £1,000 up to a maximum of £1 million. Additions are permitted while the issue remains open, however no early access is allowed. This deal is for savers aged 18 and over and can be operated by post or telephone.
- Verdict: This 3.08 per cent five-year fixed-rate bond is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys. With a great rate this is likely to be a popular choice for savers looking to lock away their savings for the longer term.
For those wanting to lock away savings of £10k-plus...
- Close Brothers Savings has increased the rate on its two-year fixed rate bond, which now pays 2.20 per cent upon its anniversary. Savers must invest from £10,000 up to a maximum of £1 million. Additions and early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated online only.
- Verdict: Internet investors will be intrigued by this latest updated from Close Brothers Savings. Paying 2.20 per cent this deal sits within the top 10 in the market. This is great for savers who are looking to fix for the shorter term, but with no early access to funds, savers will need to be happy locking their money away.
For those remortgaging and wanting a two-year fixed-rate deal...
- Norwich & Peterborough Building Society has launched a new two-year fixed rate mortgage, priced at 1.59 per cent. This deal is for remortgage customers only who borrow from £50,000 at 65 per cent loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees is available. This deal has the flexibility of allowing borrowers to make overpayments of up to 10 per cent of the outstanding balance, make underpayments and take payment holidays. Norwich & Peterborough Building Society’s lending area does not include Scotland.
- Verdict: The 1.59 per cent two-year fixed rate from Norwich & Peterborough Building Society is reasonably priced in the market. With no arrangement fee to pay and a great incentive package of free valuation and free legal fees, this is likely to be a popular choice for those looking to keep their remortgage costs down.
For five-year fixed-rate mortgages...
- Yorkshire Bank has amended its five-year fixed-rate deal, which is now priced at 3.39 per cent until 30.11.20. This deal is for all applicants who borrow a minimum of £100,000 at 90 per cent loan-to-value. A fee of £999 is payable, all of which can be added to the advance of the mortgage. An incentive package for remortgage customers of free valuation and free legal fees is available. This deal also has the flexibility of allowing borrowers to make overpayments. Yorkshire Bank’s lending area includes Scotland.
- Verdict: Borrowers with a 10 per cent deposit will be delighted by this latest update from Yorkshire Bank. Priced at 3.39 per cent, this deal is now the lowest rate in its sector. Coupled with a reasonable fee and a great incentive package, this Moneyfacts.co.uk Best Buy is likely to be a cost-effective option for many.
Thanks to Charlotte Nelson from Moneyfacts.
- There's more money savers in every issue of Yours magazine, out every fortnight on a Tuesday.