News Tag: fixed-rate
March 10, 2010
The average cost of a two-year fixed-rate mortgage fell to a six-and-a-half-year low during February, according to new figures from the Bank of England.
The average rate stood to 3.88%, down from 3.97% a month earlier to a level last seen in July 2003.
Five-year fixed-rates also eased last month, declining to an average 5.49%, down from 5.56% in January, and despite ...
Two and five-year fixed rates trimmed back
by Gill Montia
March 9, 2010
Santander's ISA has been rated top in Moneynet.co.uk's best buy charts.
The ISA, paying 3.5%, pipped Barclay's offering to the top spot.
Both Barclays and Santander are paying high rates than the best one-year fixed-rate ISAs.
"The Isa market is really taking shape as we approach the annual hot bed of activity as providers look to lure savers yet to make their move in the ...
Top ISA deal pays 3.5%
by David Masters
March 5, 2010
Coventry Building Society has announced plans to reduce the rates on its residential re-mortgage products.
The new lower rates include a 2-year fixed-rate deal at 3.5% with £999 fees at 65% loan to value.
The lender also revealed a new fixed-rate mortgage offering borrowers the opportunity to make unlimited overpayments without penalty.
The new range of unlimited repayment re-mortgage products includes a two-year ...
Coventry allows unlimited repayments on 3.99% mortgage
by David Masters
February 23, 2010
The fixed-rate mortgage has just passed its 21st birthday, having been launched by Halifax in 1988 at an astonishing rate of 12.75%.
However, the lender is celebrating the enduring appeal of this type of home loan with the following facts and figures:
By 2009, 68% of new mortgage lending took the form of fixed-rate deals, according to Council of Mortgage Lenders' data.
There are ...
Fixed-rate mortgage comes of age
by Gill Montia
February 10, 2010
Tracker rates fell to record lows in January, Bank of England statistics have revealed.
For those with a 25% deposit, the rate on the average tracker deal declined to 3.63%, down from 3.92% in December.
The shift indicates that competition is hotting up, given that the base rate has now been maintained at 0.5% for eleven consecutive months.
Furthermore, the average rate on a two-year ...
Tracker rates hit record lows
by Gill Montia
First Direct announces 2.75% one-year bond
by David Masters
February 5, 2010
The Coventry Building Society has launched a new 30-month fixed-rate bond paying interest at 4.25%.
Savers can open the bond with an investment of between £1 and £250,000, and can choose between monthly and yearly interest payments.
No money can be withdrawn from the bond until it matures in August 2012.
The bonds are available online, over the phone, or in branches of the Coventry.
Rachel ...
The Coventry launches 4.25% bond
by David Masters
February 4, 2010
Santander has launched new two year tracker and fixed rate mortgage products, and has reduced the rate on its five year fixed rate mortgage.
The two year mortgages are available to both first time buyers and home-owners at up to 70% loan-to-value (LTV)
Interest on the fixed-rate mortgage is 3.44%, while interest on the tracker mortgage is 2.49%.
The five year mortgage is available at ...
Santander announces new two-year mortgages
by David Masters
February 3, 2010
Clydesdale Bank has launched a new one-year fixed-rate bond paying interest at 4.5%.
The bond is exclusively available to customers also taking out an AXA investment product with the bank.
Savers must invest at least £2,000 in the bond, and the equivalent in an AXA investment product.
No withdrawals can be made from the bond. Customers who withdraw money from the bond are ...
Clydesdale Bank launches 4.5% one-year bond
by David Masters
January 25, 2010
The Nottingham has launched a new fixed-rate savings account aimed at customers who want to save "little and often".
The Fixed-Rate Regular Saver pays interest at 5%, and can be opened with a minimum deposit of £10.
Savers can set aside up to £100 per month into the account, and are not penalised for missing a payment. They can also make as ...
The Nottingham launches 5% regular saver
by David Masters
January 23, 2010
Both Northern Rock and the Post Office have launched new mortgage deals with lower rates.
The Post Office has cut the cost of its Bank of Ireland lifetime tracker loans from 3.29% to 2.99%, or from 3.59% to 3.49%, dependent upon the loan-to-value ratio.
Bank of Ireland has also reduced the price of its five-year fixed-rate offering by 0.5% ...
Mortgage rate cuts from Post Office and Northern Rock
by Gill Montia
January 18, 2010
Leeds Building Society has launched two new fixed-rate ISAs paying interest at up to 3.5%.
The new accounts include a three-year fixed-rate ISA, paying interest at 3.5%, and a two year product paying 3% interest.
Both accounts can be opened with a minimum deposit of just £1, and both accept transfers from previous ISA subscriptions.
Savers can withdraw up to 25% of their initial deposit, ...
Leeds launches 3.5% fixed-rate ISA
by David Masters
January 8, 2010
Santander's high street banks have launched a range of new fixed-rate bonds paying interest at up to 4.1%.
The bonds, available through Abbey, Bradford & Bingley, and Alliance & Leicester, can be opened by new and existing customers with a minimum deposit of £1.
The one year bond pays interest at 2.5% gross per annum/AER for investments up to £9,999, and 3% on investments over ...
Santander launches fixed-rate bonds
by David Masters
December 10, 2009
The best fixed-rate bank accounts are fast disappearing from the shelves of high street banks and building societies, research by Moneynet has discovered.
Keeping a watchful eye, Moneynet saw top deals from the Post Office, Melton Mowbray, Principality, Cahoot, Britannia, the Co-operative Bank, and Skipton
Building Society disappear - some of them only days after they were released.
The accounts that were pulled were paying ...
Best fixed-rate bonds disappearing fast
by David Masters
House purchase loans at highest level for two years
by Gill Montia
November 23, 2009
Moneyfacts.co.uk has revealed that the average interest rate on a two-year fix has fallen below 5% for the first time since June.
Rates peaked at 5.21% in July but despite declining swap rates have only now come down to a typical 4.99% because banks and building societies, fearful of risk, have been upping their margins.
However, Moneyfacts spokeswoman, Michelle Slade, believes ...
Average two-year fixed rate falls below 5%
by Gill Montia
October 26, 2009
Santander-owned Abbey, Alliance & Leicester, and Bradford & Bingley have launched a new two-year fixed-rate bond paying interest at 4% gross/AER.
The bond is available to new and existing customers, and requires a minimum investment of £10,000.
Customers opening the account can choose to have interest paid when the account matures, or monthly with a slightly reduced interest rate.
The 4% gross interest rate works ...
Santander launches 4% fixed-rate bond
by David Masters
October 12, 2009
Islamic Bank of Britain (IBB) is offering annual returns of 4.5% to investors who open its 24-month Fixed Term Deposit Account.
The bank invests its money ethically according to Sharia principles - meaning you won't putting your money into arms companies, alcohol firms or tobacco companies.
The Sharia principles that govern the account also mean it technically doesn't pay interest, but rather ...
Ethical provider pays 4.5% on fixed-rate bond
by David Masters
September 26, 2009
Leeds Building Society unveiled two new mortgage products this week.
The new products include a two-year base rate tracker (BRT) mortgage, and a two-year fixed-rate mortgage.
The BRT mortgage is available to homeowners borrowing up to 75% of the value of their property, with interest charged at 2.7% above the Bank of England's base rate.
Customers opting for the fixed-rate deal will be charged interest ...
Leeds unveils two-year mortgage deals
by David Masters
September 23, 2009
Bradford & Bingley (B&B) has launched a new online Notice Saver account paying interest at a variable rate of 3.3% gross/AER.
New and existing B&B customers can open the account with a minimum balance of just £1.
The account includes an instant access option for savers who need to withdraw their money.
Account holders can choose to have interest paid monthly or annually.
"For ...
Bradford & Bingley launches 3.3% Notice Saver
by David Masters
