Savings
Virgin Money – 1 Year Fixed Rate Cash E-ISA Issue 551
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Savers who wish to use their tax-free savings allowance might be tempted by the 1 Year Fixed Rate Cash E-ISA from Virgin Money. Following a rate rise this week this ISA now pays 4.00% yearly, or alternatively there is also a monthly interest option, which might be another plus for some investors who want to boost their regular income. This takes a place in the top 10 compared to other ISAs on offer with similar terms and there is also some flexibility for savers as earlier access is permitted, but this is subject to a loss of interest penalty. Investors are also able to make further additions and transfers in for 30 days from account opening, which could improve the appeal of this account further. On assessment, this ISA earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.00% gross / 4.00% AER payable yearly / monthly interest option of 3.93% gross / 4.00% AER also available
- Notice / term: To 24.2.24
- 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 for 30 days from account opening. 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.
Shawbrook Bank – Easy Access – Issue 33
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Savers who are looking for a simple easy access account where they can make withdrawals and further additions may be tempted by Shawbrook Bank’s Easy Access account. Following a rate increase this week, this now pays a return of 3.01%, which improves its position within the top 10 when compared to other easy access accounts currently on the market. Those who want to keep flexible access to their savings pot may well be tempted by this offer, and there is also the option to take the interest earned on a monthly basis, which might enhance this account’s appeal further to those who are looking to supplement their regular income. Overall, this account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.01% gross / 3.01% AER payable on anniversary / monthly interest rate option of rate 2.97% gross / 3.01% AER also available
- Notice / term: None
- Minimum opening amount: £1,000
- Maximum investment amount: £85,000
- Access: Permitted via nominated account. Minimum withdrawal amount £500
- Further additions: Permitted via nominated account
- Opening account: Online
- Managing account: Online and by phone
- Other information: Minimum applicant age 18. Joint account option available.
Mortgages
Nationwide Building Society – 10-year fixed rate mortgage, 85% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Nationwide has reduced various fixed rate products this week, including slashing up to 0.75% from 10-year fixed deals. The 85% loan-to-value offering for second-time buyers is now priced at a competitive 4.34% for 10 years. This product could be an attractive option for those looking to guarantee their monthly mortgage payments over the longer-term. It carries a £999 fee, which borrowers have the option to add to the advance and there is also a free valuation incentive on offer, a combination of features which ensure this deal takes a prominent place in our top tables and earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.34% fixed rate for 10 years
- Product fee: £999
- Maximum loan-to-value: 85%
- Available to: Second-time buyers
- Incentives: Free valuation and Green Reward for properties with an EPC score of 86 to 91, £250, or Green Reward for properties with an EPC score of 92+, £500
- Flexible features: Allows overpayments. Underpayments considered subject to approval and overpayments having been made previously
- Lending area: Great Britain and Northern Ireland (excluding Scilly Isles).
Virgin Money – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“One of the products to receive a rate cut from Virgin Money this week is a five-year fixed rate available at 75% loan-to-value available via intermediaries. Now priced at 4.22% until 1 June 2028, this may be an appealing choice for those looking to secure the ability to budget and stability of a mid-term fixed rate. The appeal of this product is increased further by the fact there is a reasonable £995 fee, offset by a generous cashback and free valuation incentive, which could make this an even more tempting option for those looking to keep mortgage set-up costs as low as possible. Following the rate cut, this mortgage gains an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.22% fixed rate to 1.6.28
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: House purchase customers
- Incentives: Free valuation and £1,000 cashback
- Flexible features: Allows overpayments. Payment holidays considered by arrangement.
- Lending area: Great Britain and Northern Ireland. Available via intermediaries.
Buy-to-let
HSBC – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“As well as reducing many of its fixed rate deals this week, HSBC has also introduced new two-year fixed rate products with no fee to its buy-to-let range. Landlords looking to buy a new investment property may be pleased to see that among the products to be launched this week is a two-year fixed option at 75% loan-to-value. Those who have stretched to meet the 25% deposit requirement and who need to keep any outgoings associated with taking on a new mortgage to a minimum may be tempted by the fact there is no fee to pay, and they can also benefit from a free valuation incentive. Assessed as a whole, this option secures a place in our top tables and receives an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.59% fixed rate to 30.6.25
- 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 and Northern Ireland.
Leek Building Society – Two-year discounted-variable rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Leek Building Society has revamped its buy-to-let product range this week. One of the new products on offer is a two-year discounted variable rate at 75% loan-to-value, priced at 4.42% (2.52% discount). This may be an enticing option for landlords who are comfortable with a variable rate product, as this option offers a competitive initial rate, carries a reasonable £995 fee and has an attractive incentive package attached, which may boost its appeal for landlords keen to save on upfront costs linked with their new mortgage. Assessed as a whole package, this option receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.42% discounted-variable rate (collared at 2.92%) for two years
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: Free valuation and £400 cashback
- Flexible features: Allows overpayments
- Lending area: England and Wales. Available via intermediaries.
Savings
Virgin Money – 1 Year Fixed Rate Cash E-ISA Issue 551
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Savers who wish to use their tax-free savings allowance might be tempted by the 1 Year Fixed Rate Cash E-ISA from Virgin Money. Following a rate rise this week this ISA now pays 4.00% yearly, or alternatively there is also a monthly interest option, which might be another plus for some investors who want to boost their regular income. This takes a place in the top 10 compared to other ISAs on offer with similar terms and there is also some flexibility for savers as earlier access is permitted, but this is subject to a loss of interest penalty. Investors are also able to make further additions and transfers in for 30 days from account opening, which could improve the appeal of this account further. On assessment, this ISA earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.00% gross / 4.00% AER payable yearly / monthly interest option of 3.93% gross / 4.00% AER also available
- Notice / term: To 24.2.24
- 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 for 30 days from account opening. 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.
Shawbrook Bank – Easy Access – Issue 33
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Savers who are looking for a simple easy access account where they can make withdrawals and further additions may be tempted by Shawbrook Bank’s Easy Access account. Following a rate increase this week, this now pays a return of 3.01%, which improves its position within the top 10 when compared to other easy access accounts currently on the market. Those who want to keep flexible access to their savings pot may well be tempted by this offer, and there is also the option to take the interest earned on a monthly basis, which might enhance this account’s appeal further to those who are looking to supplement their regular income. Overall, this account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 3.01% gross / 3.01% AER payable on anniversary / monthly interest rate option of rate 2.97% gross / 3.01% AER also available
- Notice / term: None
- Minimum opening amount: £1,000
- Maximum investment amount: £85,000
- Access: Permitted via nominated account. Minimum withdrawal amount £500
- Further additions: Permitted via nominated account
- Opening account: Online
- Managing account: Online and by phone
- Other information: Minimum applicant age 18. Joint account option available.
Mortgages
Nationwide Building Society – 10-year fixed rate mortgage, 85% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Nationwide has reduced various fixed rate products this week, including slashing up to 0.75% from 10-year fixed deals. The 85% loan-to-value offering for second-time buyers is now priced at a competitive 4.34% for 10 years. This product could be an attractive option for those looking to guarantee their monthly mortgage payments over the longer-term. It carries a £999 fee, which borrowers have the option to add to the advance and there is also a free valuation incentive on offer, a combination of features which ensure this deal takes a prominent place in our top tables and earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.34% fixed rate for 10 years
- Product fee: £999
- Maximum loan-to-value: 85%
- Available to: Second-time buyers
- Incentives: Free valuation and Green Reward for properties with an EPC score of 86 to 91, £250, or Green Reward for properties with an EPC score of 92+, £500
- Flexible features: Allows overpayments. Underpayments considered subject to approval and overpayments having been made previously
- Lending area: Great Britain and Northern Ireland (excluding Scilly Isles).
Virgin Money – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“One of the products to receive a rate cut from Virgin Money this week is a five-year fixed rate available at 75% loan-to-value available via intermediaries. Now priced at 4.22% until 1 June 2028, this may be an appealing choice for those looking to secure the ability to budget and stability of a mid-term fixed rate. The appeal of this product is increased further by the fact there is a reasonable £995 fee, offset by a generous cashback and free valuation incentive, which could make this an even more tempting option for those looking to keep mortgage set-up costs as low as possible. Following the rate cut, this mortgage gains an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.22% fixed rate to 1.6.28
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: House purchase customers
- Incentives: Free valuation and £1,000 cashback
- Flexible features: Allows overpayments. Payment holidays considered by arrangement.
- Lending area: Great Britain and Northern Ireland. Available via intermediaries.
Buy-to-let
HSBC – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“As well as reducing many of its fixed rate deals this week, HSBC has also introduced new two-year fixed rate products with no fee to its buy-to-let range. Landlords looking to buy a new investment property may be pleased to see that among the products to be launched this week is a two-year fixed option at 75% loan-to-value. Those who have stretched to meet the 25% deposit requirement and who need to keep any outgoings associated with taking on a new mortgage to a minimum may be tempted by the fact there is no fee to pay, and they can also benefit from a free valuation incentive. Assessed as a whole, this option secures a place in our top tables and receives an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.59% fixed rate to 30.6.25
- 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 and Northern Ireland.
Leek Building Society – Two-year discounted-variable rate mortgage, 75% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:
“Leek Building Society has revamped its buy-to-let product range this week. One of the new products on offer is a two-year discounted variable rate at 75% loan-to-value, priced at 4.42% (2.52% discount). This may be an enticing option for landlords who are comfortable with a variable rate product, as this option offers a competitive initial rate, carries a reasonable £995 fee and has an attractive incentive package attached, which may boost its appeal for landlords keen to save on upfront costs linked with their new mortgage. Assessed as a whole package, this option receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.42% discounted-variable rate (collared at 2.92%) for two years
- Product fee: £995
- Maximum loan-to-value: 75%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: Free valuation and £400 cashback
- Flexible features: Allows overpayments
- Lending area: England and Wales. Available via intermediaries.
