Savings
Coventry Building Society – Limited Access Saver (Online) (8)
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week Coventry Building Society has launched a new issue of its Limited Access Saver account. Paying a competitive rate of 3.10% on anniversary, this account can be opened with minimum investment amounts of as little as £1. Savers can make up to six penalty-free withdrawals per year, but must be aware that any subsequent withdrawals are subject to a loss of interest penalty, so this could suit those who want to maintain some level of access to their nest egg. There is also a monthly interest option available, which could be of benefit to those looking to supplement their regular income. This account takes a place in our top rate tables and earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.10% gross / 3.10% AER payable on anniversary / monthly interest option of 3.06% gross / 3.10% AER also available
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Six penalty-free withdrawals permitted per annum, further withdrawals subject to 50-day loss of interest penalty. Withdrawals must be made via nominated account.
- Further additions: Permitted
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16. Joint account option available.
Bank of London and the Middle East – 90 Day Notice Account (Issue 5)
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Savers who want to balance being able to have some access to their savings pot with earning a competitive rate of return might be tempted by the 90 Day Notice Account from Bank of London and the Middle East. Following a rate increase of 0.20%, this account now pays an expected profit rate of 3.40% gross, which sees it take a position in the top 10 compared to other notice accounts currently on the market. Further additions can be made, but any withdrawals are subject to a 90-day notice period, however, with careful planning this may still be an attractive choice for some. Overall, this account earns an Excellent Moneyfacts product rating and keeps a place in our top rate tables.”
Key product details:
- Rate: 3.40% gross / 3.44% AER payable quarterly
- Notice / term: 90 days
- Minimum opening amount: £10,000
- Maximum investment amount: £1 million
- Access: Permitted, subject to 90 days’ notice, minimum withdrawal amount £1,000
- Further additions: Permitted
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18. Joint account option available. Shari’ah compliant account – rates shown are an expected profit rate.
Virgin Money – 1 Year Fixed Rate Cash E-ISA Issue 555
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Savers who are yet to use their tax-free savings allowance might be tempted by the 1 Year Fixed Rate Cash E-ISA Issue 555 from Virgin Money. Following a rate increase of 0.10% this week, this ISA now pays 3.95% yearly, which sees it improve its place in the top 10 when compared to others currently on offer with similar terms. Another feature which may boost the appeal of this ISA further is that there is an element of flexibility for savers, as earlier access is permitted, however, this is subject to a loss of interest penalty. Investors can make further additions and transfers in for 30 days from account opening, which may also add to its appeal. Overall, this earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.95% gross / 3.95% AER payable yearly / monthly interest option of 3.88% gross / 3.95% AER also available
- Notice / term: To 24.3.24
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to a 60-day loss of interest penalty
- Further additions: Permitted for 30 days from account opening
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, subject to a 60-day loss of interest penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16
Mortgages
Skipton Building Society – Two-year fixed rate mortgage, 90% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week Skipton Building Society has reduced rates across fixed offerings in its residential mortgage range by up to 0.24%. One deal which may be of interest to borrowers with either a 10% deposit or equity in their home is a two-year fixed option at 90% loan-to-value. Now priced at 5.16% until 30 June 2025, this option could tempt those looking to secure some short-term certainty with their new mortgage. Not only is the initial rate competitive, but prospective borrowers who are trying to keep any outgoings associated with taking on a new mortgage to a minimum may be further tempted by the fact there is not only no fee to pay, but there is also an incentive package attached to the product. Assessed as a whole, this option secures places in our top tables for both direct and intermediary business and receives an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.16% fixed rate to 30.6.25
- Product fee: None
- Maximum loan-to-value: 90%
- Available to: All borrower types
- Incentives: Free valuation and, for remortgage borrowers, free legal fees
- Flexible features: Allows overpayments. Payment holidays considered, subject to approval, notice required.
- Lending area: Great Britain.
Barclays Mortgage – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week sees Barclays Mortgage make some notable rate reductions of up to 0.50% across selected fixed rate products. Its five-year fixed rate offering for those purchasing with a 25% deposit available saw a generous reduction of 0.39% and is now priced at 4.16% until 30 June 2028. This could be an enticing option for borrowers who are looking to secure the certainty and ability to budget to a set monthly repayment that comes with a mid-term fixed mortgage product. Those who have had to focus on saving for their deposit and want to keep any costs linked with taking out a mortgage as low as possible may be further tempted by the fact there is no fee to pay for this product, and that they are also able to benefit from a free valuation incentive. This deal takes a place in our top tables and earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.16% fixed rate to 30.6.28
- Product fee: None
- Maximum loan-to-value: 75%
- Available to: House purchase customers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-let
Leeds Building Society – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Leeds Building Society has reduced rates across its buy-to-let offerings, including applying a 0.17% cut to its five-year deal for landlords looking to purchase or remortgage at 60% loan-to-value. This is now priced at 4.77% fixed until 31 May 2028. Landlords who are looking to secure a stable fixed rate deal for the medium-term may well be enticed by the initial rate on this product, and could also find its appeal is further boosted by the fact that the reasonable fee can be added to the advance. They may also be able to benefit from an incentive package, thus keeping any outlay associated with taking on a new buy-to-let mortgage to a minimum. Considered overall, this option enters our top tables and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.77% fixed rate to 31.5.28
- Product fee: £999
- Maximum loan-to-value: 60%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: Free valuation and for those remortgaging, help with costs
- Flexible features: Allows overpayments
- Lending area: England, Wales, Mainland Scotland and Northern Ireland.
TSB – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Landlords looking for a short-term fixed purchase option may wish to note that among the products to receive a reduction in rate from TSB this week is a two-year deal available at 75% loan-to-value. Following a notable cut of 0.40%, this is now priced at 5.44% until 1 July 2025. When assessed as a whole package this option, which has no fee attached and offers a free valuation incentive, could be a tempting option, particularly for those looking to keep set-up costs as low as possible. It secures a place in our top tables and receives an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.44% fixed rate to 31.7.25
- Product fee: None
- Maximum loan-to-value: 75%
- Available to: Second-time buyers (remortgage product also available)
- Incentives: Free valuation
- Flexible features: Allows overpayments.
- Lending area: Great Britain.
Cards
MBNA Limited – Long 0% Balance Transfer Credit Card Mastercard
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“The latest update from MBNA sees the introductory balance transfer term on the Long 0% Balance Transfer Credit Card Mastercard increase to 31 months. This card now provides one of the best introductory 0% balance transfer offers and charges an upfront balance transfer fee of 3.49% during the introductory period. Those customers looking to consolidate debts may well find this an appealing option, but might wish to note that lower fees are available elsewhere. On assessment, the card earns an Outstanding Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: None
- Introductory rate for balance transfers: 0% for 31 months
- Standard rate for purchases: 22.9% APR
- Balance transfer fee: 3.49% as an introductory charge during the first two months from account opening, rising to 5.00% (no min) thereafter
- Card fee: None
- Opening method: Online and by phone
- Card management: Online, by phone and via its mobile app
- Other information: Minimum age 18. Minimum income £14,000. Must hold a UK bank/building society account. Must hold permanent UK address for three years. Rates dependent on credit rating.
Savings
Coventry Building Society – Limited Access Saver (Online) (8)
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week Coventry Building Society has launched a new issue of its Limited Access Saver account. Paying a competitive rate of 3.10% on anniversary, this account can be opened with minimum investment amounts of as little as £1. Savers can make up to six penalty-free withdrawals per year, but must be aware that any subsequent withdrawals are subject to a loss of interest penalty, so this could suit those who want to maintain some level of access to their nest egg. There is also a monthly interest option available, which could be of benefit to those looking to supplement their regular income. This account takes a place in our top rate tables and earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.10% gross / 3.10% AER payable on anniversary / monthly interest option of 3.06% gross / 3.10% AER also available
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Six penalty-free withdrawals permitted per annum, further withdrawals subject to 50-day loss of interest penalty. Withdrawals must be made via nominated account.
- Further additions: Permitted
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16. Joint account option available.
Bank of London and the Middle East – 90 Day Notice Account (Issue 5)
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Savers who want to balance being able to have some access to their savings pot with earning a competitive rate of return might be tempted by the 90 Day Notice Account from Bank of London and the Middle East. Following a rate increase of 0.20%, this account now pays an expected profit rate of 3.40% gross, which sees it take a position in the top 10 compared to other notice accounts currently on the market. Further additions can be made, but any withdrawals are subject to a 90-day notice period, however, with careful planning this may still be an attractive choice for some. Overall, this account earns an Excellent Moneyfacts product rating and keeps a place in our top rate tables.”
Key product details:
- Rate: 3.40% gross / 3.44% AER payable quarterly
- Notice / term: 90 days
- Minimum opening amount: £10,000
- Maximum investment amount: £1 million
- Access: Permitted, subject to 90 days’ notice, minimum withdrawal amount £1,000
- Further additions: Permitted
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18. Joint account option available. Shari’ah compliant account – rates shown are an expected profit rate.
Virgin Money – 1 Year Fixed Rate Cash E-ISA Issue 555
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Savers who are yet to use their tax-free savings allowance might be tempted by the 1 Year Fixed Rate Cash E-ISA Issue 555 from Virgin Money. Following a rate increase of 0.10% this week, this ISA now pays 3.95% yearly, which sees it improve its place in the top 10 when compared to others currently on offer with similar terms. Another feature which may boost the appeal of this ISA further is that there is an element of flexibility for savers, as earlier access is permitted, however, this is subject to a loss of interest penalty. Investors can make further additions and transfers in for 30 days from account opening, which may also add to its appeal. Overall, this earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.95% gross / 3.95% AER payable yearly / monthly interest option of 3.88% gross / 3.95% AER also available
- Notice / term: To 24.3.24
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to a 60-day loss of interest penalty
- Further additions: Permitted for 30 days from account opening
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, subject to a 60-day loss of interest penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16
Mortgages
Skipton Building Society – Two-year fixed rate mortgage, 90% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week Skipton Building Society has reduced rates across fixed offerings in its residential mortgage range by up to 0.24%. One deal which may be of interest to borrowers with either a 10% deposit or equity in their home is a two-year fixed option at 90% loan-to-value. Now priced at 5.16% until 30 June 2025, this option could tempt those looking to secure some short-term certainty with their new mortgage. Not only is the initial rate competitive, but prospective borrowers who are trying to keep any outgoings associated with taking on a new mortgage to a minimum may be further tempted by the fact there is not only no fee to pay, but there is also an incentive package attached to the product. Assessed as a whole, this option secures places in our top tables for both direct and intermediary business and receives an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.16% fixed rate to 30.6.25
- Product fee: None
- Maximum loan-to-value: 90%
- Available to: All borrower types
- Incentives: Free valuation and, for remortgage borrowers, free legal fees
- Flexible features: Allows overpayments. Payment holidays considered, subject to approval, notice required.
- Lending area: Great Britain.
Barclays Mortgage – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week sees Barclays Mortgage make some notable rate reductions of up to 0.50% across selected fixed rate products. Its five-year fixed rate offering for those purchasing with a 25% deposit available saw a generous reduction of 0.39% and is now priced at 4.16% until 30 June 2028. This could be an enticing option for borrowers who are looking to secure the certainty and ability to budget to a set monthly repayment that comes with a mid-term fixed mortgage product. Those who have had to focus on saving for their deposit and want to keep any costs linked with taking out a mortgage as low as possible may be further tempted by the fact there is no fee to pay for this product, and that they are also able to benefit from a free valuation incentive. This deal takes a place in our top tables and earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.16% fixed rate to 30.6.28
- Product fee: None
- Maximum loan-to-value: 75%
- Available to: House purchase customers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-let
Leeds Building Society – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Leeds Building Society has reduced rates across its buy-to-let offerings, including applying a 0.17% cut to its five-year deal for landlords looking to purchase or remortgage at 60% loan-to-value. This is now priced at 4.77% fixed until 31 May 2028. Landlords who are looking to secure a stable fixed rate deal for the medium-term may well be enticed by the initial rate on this product, and could also find its appeal is further boosted by the fact that the reasonable fee can be added to the advance. They may also be able to benefit from an incentive package, thus keeping any outlay associated with taking on a new buy-to-let mortgage to a minimum. Considered overall, this option enters our top tables and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.77% fixed rate to 31.5.28
- Product fee: £999
- Maximum loan-to-value: 60%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: Free valuation and for those remortgaging, help with costs
- Flexible features: Allows overpayments
- Lending area: England, Wales, Mainland Scotland and Northern Ireland.
TSB – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Landlords looking for a short-term fixed purchase option may wish to note that among the products to receive a reduction in rate from TSB this week is a two-year deal available at 75% loan-to-value. Following a notable cut of 0.40%, this is now priced at 5.44% until 1 July 2025. When assessed as a whole package this option, which has no fee attached and offers a free valuation incentive, could be a tempting option, particularly for those looking to keep set-up costs as low as possible. It secures a place in our top tables and receives an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.44% fixed rate to 31.7.25
- Product fee: None
- Maximum loan-to-value: 75%
- Available to: Second-time buyers (remortgage product also available)
- Incentives: Free valuation
- Flexible features: Allows overpayments.
- Lending area: Great Britain.
Cards
MBNA Limited – Long 0% Balance Transfer Credit Card Mastercard
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“The latest update from MBNA sees the introductory balance transfer term on the Long 0% Balance Transfer Credit Card Mastercard increase to 31 months. This card now provides one of the best introductory 0% balance transfer offers and charges an upfront balance transfer fee of 3.49% during the introductory period. Those customers looking to consolidate debts may well find this an appealing option, but might wish to note that lower fees are available elsewhere. On assessment, the card earns an Outstanding Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: None
- Introductory rate for balance transfers: 0% for 31 months
- Standard rate for purchases: 22.9% APR
- Balance transfer fee: 3.49% as an introductory charge during the first two months from account opening, rising to 5.00% (no min) thereafter
- Card fee: None
- Opening method: Online and by phone
- Card management: Online, by phone and via its mobile app
- Other information: Minimum age 18. Minimum income £14,000. Must hold a UK bank/building society account. Must hold permanent UK address for three years. Rates dependent on credit rating.
