UK Savings and Morthage Products Picks of the Week

By: MoneyFacts

The Moneyfacts Pick of the Week showcases the best of the latest products to hit the consumer finance market.

Brief product details together with independent Moneyfacts analysis can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature.

Savings

Nottingham Building Society

Nottingham Building Society has launched a new two-year Cash ISA paying a fixed rate 3.65%. Savers can invest a minimum of £500. Earlier access is not permitted. The account is available to savers aged 16 and over by branch or post.

Nottingham Building Society has launched a fixed rate Cash ISA which is available by branch and post. At 3.65% this is the best two-year fixed rate ISA currently available on the market. In addition, customers will be able to make transfers in which will be welcomed.

United National Bank

United National Bank has increased the rate on its 10th Anniversary 90 Day Online Notice account by 0.10% to 3.10%. Investments range between £2,000 and £500,000 and as the name implies, savers must give 90 days’ notice to access funds, but this is at the bank’s discretion subject to a 2.00% charge. The account is available to savers aged 18 and over online only.

This latest rate increase sees the 90 Day Online Notice account reaching just below the market leader for accounts with a similar notice period. Whilst this is a very attractive product, savers must be willing to give advance notice before accessing their money, which is at the bank’s discretion with a 2.00% charge.

Nationwide Building Society

Following a review of its savings range, Nationwide Building Society has improved its Online ISA which is now paying 3.10% including a bonus of 2.10% until 30.9.13. Savers can invest a minimum of £1,000. Transfers in are accepted. The account is available to existing customers aged 16 and over online only.

This new Online ISA from Nationwide Building Society offers a rate of 3.10%, which is just shy of the market leader. The rate does include a bonus of 2.10% until September next year so customers should review the market at this time to ensure they are getting the best deal. Applicants must be existing customers and apply online.

Mortgages

Mansfield Building Society

Mansfield Building Society has launched a two-year fixed rate mortgage at 3.18%. The maximum loan-to-value is 80% and customers can borrow a minimum of £25,001. A fee of £999 is payable. The deal comes with an incentive in the form of a refund in valuation fees up to a maximum of £400. The deal is available to both purchase and remortgage borrowers and there is the flexible option to overpay up to 10% of the outstanding balance.

This new deal offers a decent rate of 3.18% fixed for two years, one of the top five best rates at 80% loan-to-value. The refund valuation fee incentive will add to the product’s appeal, which is further boosted by the option to make overpayments of up to 10% of the mortgage advance.

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