Savings
Ahli United Bank (UK) plc – Raisin UK - 1 Year Fixed Term Deposit
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Ahli United Bank (UK) plc has made a notable 0.45% rate increase to its Raisin UK – 1 Year Fixed Term Deposit this week. Now paying a market-leading return of 3.50%, this takes the lead position in the top 10 when compared to other bonds with similar terms currently on offer. As is often the case with fixed accounts, investors need to be comfortable with their initial deposit and the duration of the fixed term, as neither early access nor further additions are permitted, but savers happy to secure their funds away for a year could be tempted by the return alone. Following the update, this account secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.50% gross / 3.50% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £1,000
- Maximum investment amount: £85,000
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online
- Managing account: Online, by phone and by post
- Other information: Minimum applicant age 18. With Raisin UK a £30 Partner Bonus can be claimed on savings accounts with a term of at least six months opened with a minimum of £10,000.
JN Bank – 2 Year Fixed Term Savings Account
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“JN Bank has increased the rate on a number of its accounts this week, including its 2 Year Fixed Term Account. Paying a rate of 3.48% gross, this scoops a prominent position in the top 10 when compared to other bonds with similar terms which are currently available. Savers who are comfortable with locking their nest-egg away for the two-year term of the account and who are looking for a guaranteed return on their savings may well find this an attractive option. On assessment, the account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.48% gross / 3.48% AER payable on its anniversary
- Notice / term: Two years
- Minimum opening amount: £1,000
- Maximum investment amount: £100,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening, maximum of 11 additions after initial funding, minimum £1,000
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
OakNorth Bank – 12 Month Fixed Rate Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“One of the accounts to receive a rate increase from OakNorth Bank this week is the 12 Month Fixed Rate Cash ISA. Following a rate rise this now pays 2.51% gross, taking a place in our top tables when compared against other fixed ISAs with similar terms which are available at the moment. To further boost this ISA’s appeal there is an element of flexibility on offer, as earlier access to funds is permitted, subject to a loss of interest penalty. Savers can also make further additions and transfers in for 30 days from account opening, which might be another benefit for some. Overall, the account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 2.51% gross / 2.51% AER payable monthly
- Notice / term: 12 months
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to 90 days’ loss of interest penalty
- Further additions: Permitted for 30 days from account opening
- Transfers in: Permitted for 30 days from account opening. Accepts Cash ISAs.
- Transfers out: Permitted, subject to 90 days’ loss of interest penalty
- Opening account: Online and via its mobile app
- Managing account: Online and via its mobile app
- Other information: Minimum applicant age 18. Account must be funded within 30 days of account approval or account will be closed.
Tesco Bank – Instant Access Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“One of the accounts to receive a rate increase from Tesco Bank this week is the Instant Access Cash ISA. Now paying 1.51%, this deal improves its position and holds a place in the top 10 compared to other similar ISAs currently on offer. Savers who are looking for a flexible account and who also wish to utilise their ISA allowance may be tempted by the fact this account allows both unlimited deposits and withdrawals and can be opened with deposits of as little as £1. Savvy savers may be wise to schedule in a review though, as the bonus portion of the rate expires after 12 months and the rate paid will then reduce. Overall, this ISA earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.51% gross / 1.51% AER payable on anniversary (rate includes a bonus of 1.26% for 12 months)
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted
- Further additions: Permitted
- Transfers in: Permitted. Accepts Cash ISAs
- Transfers out: Permitted
- Opening account: Online and by phone
- Managing account: Online, by phone and via its mobile app
- Other information: Minimum applicant age 18. Flexible ISA rules apply.
Mortgages
Yorkshire Building Society – Two-year variable-tracker rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week sees Yorkshire Building Society relaunch its variable tracker rate products. One of these new deals is available at up to 75% loan-to-value and is priced at 2.49% until 30.9.24. When considered as a whole, this deal not only offers a competitive rate compared to similar products currently on the market, but may also be tempting for those looking to keep mortgage set-up costs as low as possible, as there is the option to add the reasonable fee to the mortgage advance, and a free valuation incentive is also available. Overall, this earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 2.49% variable-tracker rate (collared at 2.49%) until 30.9.24
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: All borrower types
- Incentives: Free valuation
- Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed level of overpayments previously made.
- Lending area: Great Britain and Northern Ireland.
Buy-to-let
Skipton Building Society – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“The latest buy-to-let update from Skipton Building Society has included the launch of a limited edition two-year fixed rate. Available at up to 75% loan-to-value, the deal is fixed at 3.31% until 30 November 2024. Landlords looking for a short-term fixed rate may find that there are slightly lower rates available elsewhere in this sector, however, those deals tend to carry higher fees compared to the more modest £995 attached to this deal. There is also an incentive package available which further boosts the appeal of this product, and when assessed as a whole package sees this earn an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.31% fixed rate until 30.11.24
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: Free valuation, and for remortgage borrowers free legal fees
- Flexible features: Allows overpayments
- Lending area: Great Britain.
HSBC – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Landlords looking to secure a mid-term fixed rate may be interested to see that despite a small rate rise of 0.12% this week, the 60% loan-to-value option from HSBC maintains its place in the top tables. Priced at 3.42% until 31 October 2027 and available to those purchasing a rental property, the appeal of this mortgage is improved by a generous incentive package which includes £500 cashback, as well as a free valuation. Assessed as a whole, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- 3.42% fixed rate until 31.10.27
- Product fee: £1,999
- Maximum loan-to-value: 60%
- Available to: Second-time buyers
- Incentives: Free valuation and £500 cashback
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Savings
Ahli United Bank (UK) plc – Raisin UK - 1 Year Fixed Term Deposit
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Ahli United Bank (UK) plc has made a notable 0.45% rate increase to its Raisin UK – 1 Year Fixed Term Deposit this week. Now paying a market-leading return of 3.50%, this takes the lead position in the top 10 when compared to other bonds with similar terms currently on offer. As is often the case with fixed accounts, investors need to be comfortable with their initial deposit and the duration of the fixed term, as neither early access nor further additions are permitted, but savers happy to secure their funds away for a year could be tempted by the return alone. Following the update, this account secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.50% gross / 3.50% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £1,000
- Maximum investment amount: £85,000
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online
- Managing account: Online, by phone and by post
- Other information: Minimum applicant age 18. With Raisin UK a £30 Partner Bonus can be claimed on savings accounts with a term of at least six months opened with a minimum of £10,000.
JN Bank – 2 Year Fixed Term Savings Account
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“JN Bank has increased the rate on a number of its accounts this week, including its 2 Year Fixed Term Account. Paying a rate of 3.48% gross, this scoops a prominent position in the top 10 when compared to other bonds with similar terms which are currently available. Savers who are comfortable with locking their nest-egg away for the two-year term of the account and who are looking for a guaranteed return on their savings may well find this an attractive option. On assessment, the account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.48% gross / 3.48% AER payable on its anniversary
- Notice / term: Two years
- Minimum opening amount: £1,000
- Maximum investment amount: £100,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening, maximum of 11 additions after initial funding, minimum £1,000
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
OakNorth Bank – 12 Month Fixed Rate Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“One of the accounts to receive a rate increase from OakNorth Bank this week is the 12 Month Fixed Rate Cash ISA. Following a rate rise this now pays 2.51% gross, taking a place in our top tables when compared against other fixed ISAs with similar terms which are available at the moment. To further boost this ISA’s appeal there is an element of flexibility on offer, as earlier access to funds is permitted, subject to a loss of interest penalty. Savers can also make further additions and transfers in for 30 days from account opening, which might be another benefit for some. Overall, the account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 2.51% gross / 2.51% AER payable monthly
- Notice / term: 12 months
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to 90 days’ loss of interest penalty
- Further additions: Permitted for 30 days from account opening
- Transfers in: Permitted for 30 days from account opening. Accepts Cash ISAs.
- Transfers out: Permitted, subject to 90 days’ loss of interest penalty
- Opening account: Online and via its mobile app
- Managing account: Online and via its mobile app
- Other information: Minimum applicant age 18. Account must be funded within 30 days of account approval or account will be closed.
Tesco Bank – Instant Access Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“One of the accounts to receive a rate increase from Tesco Bank this week is the Instant Access Cash ISA. Now paying 1.51%, this deal improves its position and holds a place in the top 10 compared to other similar ISAs currently on offer. Savers who are looking for a flexible account and who also wish to utilise their ISA allowance may be tempted by the fact this account allows both unlimited deposits and withdrawals and can be opened with deposits of as little as £1. Savvy savers may be wise to schedule in a review though, as the bonus portion of the rate expires after 12 months and the rate paid will then reduce. Overall, this ISA earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.51% gross / 1.51% AER payable on anniversary (rate includes a bonus of 1.26% for 12 months)
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted
- Further additions: Permitted
- Transfers in: Permitted. Accepts Cash ISAs
- Transfers out: Permitted
- Opening account: Online and by phone
- Managing account: Online, by phone and via its mobile app
- Other information: Minimum applicant age 18. Flexible ISA rules apply.
Mortgages
Yorkshire Building Society – Two-year variable-tracker rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week sees Yorkshire Building Society relaunch its variable tracker rate products. One of these new deals is available at up to 75% loan-to-value and is priced at 2.49% until 30.9.24. When considered as a whole, this deal not only offers a competitive rate compared to similar products currently on the market, but may also be tempting for those looking to keep mortgage set-up costs as low as possible, as there is the option to add the reasonable fee to the mortgage advance, and a free valuation incentive is also available. Overall, this earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 2.49% variable-tracker rate (collared at 2.49%) until 30.9.24
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: All borrower types
- Incentives: Free valuation
- Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed level of overpayments previously made.
- Lending area: Great Britain and Northern Ireland.
Buy-to-let
Skipton Building Society – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“The latest buy-to-let update from Skipton Building Society has included the launch of a limited edition two-year fixed rate. Available at up to 75% loan-to-value, the deal is fixed at 3.31% until 30 November 2024. Landlords looking for a short-term fixed rate may find that there are slightly lower rates available elsewhere in this sector, however, those deals tend to carry higher fees compared to the more modest £995 attached to this deal. There is also an incentive package available which further boosts the appeal of this product, and when assessed as a whole package sees this earn an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.31% fixed rate until 30.11.24
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: Free valuation, and for remortgage borrowers free legal fees
- Flexible features: Allows overpayments
- Lending area: Great Britain.
HSBC – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Landlords looking to secure a mid-term fixed rate may be interested to see that despite a small rate rise of 0.12% this week, the 60% loan-to-value option from HSBC maintains its place in the top tables. Priced at 3.42% until 31 October 2027 and available to those purchasing a rental property, the appeal of this mortgage is improved by a generous incentive package which includes £500 cashback, as well as a free valuation. Assessed as a whole, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- 3.42% fixed rate until 31.10.27
- Product fee: £1,999
- Maximum loan-to-value: 60%
- Available to: Second-time buyers
- Incentives: Free valuation and £500 cashback
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
