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News Tag: fixed-rate

July 7, 2010

Yorkshire’s new bonds pay up to 4.6%

by David Masters
Yorkshire's new bonds pay up to 4.6%
Yorkshire Building Society has announced a new range of fixed-rate bonds paying interest at up to 4.6% gross/AER. Customers can choose between two year, three year and five year options. Interest is paid at 3.56% on the two year bond, 4.11% on the three year bond, and 4.6% on the five year bond. Savers can apply for the bonds from 11 July, and ...




Leeds bond offers access to 50% of investment

by David Masters
Leeds bond offers access to 50% of investment
Leeds Building Society has launched a new instant access five year bond paying interest at 3.5%. Savers can access up to 50% of the money saved in the bond at any time without penalty. Leeds said it designed the bond by looking at the other bonds available on the market and coming up with something unique. "We believe these new bonds provide ...




June 8, 2010

Accord launches 10-year fix at 5.24%

by Gill Montia
”Accord
Accord Mortgages has launched a new ten-year fixed rate deal with loan-to-value ratios of between 75% and 85%, and a starting rate of 5.24%. The Yorkshire Building Society subsidiary has also made a number of rate reductions across its range, cutting five-year fixed rates by up to 0.5%, and two and three-year fixes by 0.35% and 0.45% respectively. Prior to the credit crisis, ...




May 26, 2010

Co-operative 3.99% mortgage blows away competition

by David Masters
Co-operative 3.99% mortgage blows away competition
The Co-operative Bank and Britannia today launched a new five-year mortgage at a fixed-rate of 3.99%. The mortgage is available to homeowners with a deposit of at least 25%. Borrowers taking out the mortgage are required to pay a £999 fee. The two providers, which merged last year, also announced a two-year fixed rate mortgage at 2.95%, also requiring a 25% deposit and with ...




May 18, 2010

Nationwide’s football bond is “gimmicky”

by David Masters
Savings experts have warned that a new Football Bond from Nationwide is a World Cup "gimmick". Customers who take out the bond will he paid a bonus if England wins the World Cup trophy this summer. The four-year fixed rate bond pays 4.15% (AER) gross per year. If England win the World Cup, the interest rate will increase to 4.65% in May 2011. Robin Bailey, Nationwide's divisional director of savings and ...




April 14, 2010

Broker reports spring flurry of mortgage applications

by Gill Montia
”Broker
Applications for home loans have bounced back to February 2008 levels, according to Countrywide. The mortgage broker has reported a 20% increase in applications during March (compared to February) marking the third consecutive monthly rise. Looking back over the first quarter of 2010, volumes were up 9% year-on-year indicating that property buyers have a renewed sense of confidence in the UK housing ...




April 13, 2010

New mortgage lending stages modest recovery

by Gill Montia
”New
The number of loans advanced for house purchases increased by 12% in February, showing a modest recovery on January when the figures were weak due to the end of the stamp-duty holiday and the severe winter weather. According to the Council of Mortgage Lenders (CML) 35,000 house purchase loans were advanced worth £5 billion, up 49% in volume and 67% in ...




April 5, 2010

Leeds launches 4.6% ISA for new tax year

by David Masters
Leeds launches 4.6% ISA for new tax year
Leeds Building Society this week launched an ISA paying interest at 4.6%. The five-year fixed rate account can be opened with just £1. Savers can access up to 25% of their savings at any time without notice or penalty. Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said the ISA is a "market leading offer", adding that the flexibility of access ...




March 29, 2010

Nationwide announces 4.25% ISA

by David Masters
Nationwide announces 4.25% ISA
Nationwide Building Society has launched a new four year fixed-rate ISA paying interest at 4.25%. The ISA can be opened with a minimum balance of £1, and transfers from previous ISA savings are accepted. Nationwide also announced that its three year fixed-rate ISA paying interest at 4.15% will now only be available to existing Nationwide customers whose current fixed-rate ISAs are due to mature. "The three ...




March 25, 2010

High inflation gnaws at savings

by David Masters
High inflation gnaws at savings
High inflation continues to diminish the value of money put aside into savings accounts, a financial expert has claimed. Michelle Slade of Moneyfacts.co.uk said that with the Consumer Price Index at 3%, basic rate taxpayers need to find a savings account paying 3.75% interest to ensure their savings pot retains its full value. However, only fixed-rate bonds and regular saver accounts are currently paying ...




March 10, 2010

Two and five-year fixed rates trimmed back

by Gill Montia
”Two
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 ...




March 9, 2010

Top ISA deal pays 3.5%

by David Masters
Top ISA deal pays 3.5%
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 ...




March 5, 2010

Coventry allows unlimited repayments on 3.99% mortgage

by David Masters
Coventry allows unlimited repayments on 3.99% mortgage
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 ...




February 23, 2010

Fixed-rate mortgage comes of age

by Gill Montia
”Fixed-rate
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 ...




February 10, 2010

Tracker rates hit record lows

by Gill Montia
”Tracker
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 ...




First Direct announces 2.75% one-year bond

by David Masters
First Direct announces 2.75% one-year bond
Online bank First Direct has launched a new one-year fixed-rate bond paying interest at 2.75%. The bond is only available to First Direct customers, and can be opened with a deposit of between £2,000 and £49,999. No deposits or withdrawals can be made once the bond is opened. Customers who need to withdraw money from the bond will have to close the ...




February 5, 2010

The Coventry launches 4.25% bond

by David Masters
The Coventry launches 4.25% bond
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 ...




February 4, 2010

Santander announces new two-year mortgages

by David Masters
Santander announces new two-year mortgages
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 ...




February 3, 2010

Clydesdale Bank launches 4.5% one-year bond

by David Masters
Clydesdale Bank launches 4.5% one-year bond
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 ...




January 25, 2010

The Nottingham launches 5% regular saver

by David Masters
The Nottingham launches 5% regular saver
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 ...