Savings

SmartSave – 1 Year Fixed Rate Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“Following its withdrawal at the end of last week, SmartSave has launched a new one-year fixed rate bond this week. Available to those with at least £10,000 to invest, this fixed bond pays 4.32% on maturity, and so takes a place in the top rate tables when compared against other bonds with similar terms currently on offer. Like many fixed accounts, earlier access to funds is not permitted, so savers need to be happy to secure their cash away for the term of the account, but they are able to make further additions for 14 days from account opening, which may be a plus for some investors. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.32% gross / 4.32% AER, payable on maturity
• Notice / term: One year
• Minimum opening amount: £10,000
• Maximum investment amount: £85,000
• Access: Not permitted
• Further additions: Permitted for 14 days from account opening
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18.

Union Bank of India (UK) Ltd – 18 Month Fixed Rate Deposit

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“This week sees Union Bank of India (UK) Ltd reduce rates across a number of its savings offerings, including its 18 Month Fixed Rate Deposit. Despite receiving a small cut of 0.10% this option now pays 4.45%, and therefore maintains a place in the top 10 when compared to other bonds with similar terms. As may well be expected of a fixed bond, neither earlier access nor further additions are permitted, so savers would need to comfortable securing their nest egg away for the term of the account. On assessment, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.45% gross / 4.45% AER, payable yearly or on maturity
• Notice / term: 18 months
• Minimum opening amount: £1,000
• Maximum investment amount: £1,000,000
• Access: Not permitted
• Further additions: Not permitted
• Opening account: In branch and by post
• Managing account: In branch and by post
• Other information: Minimum applicant age 18. Joint account option available. 0.10% loyalty bonus offered to existing Fixed Rate Deposit holders if they choose to reinvest into another Fixed Rate Deposit at maturity.

Zenith Bank (UK) Ltd – Raisin UK - 2 Year Fixed Term Deposit 

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“This week Zenith Bank (UK) Ltd has launched new Raisin UK – Fixed Term Deposit accounts. The 2 Year Deposit, paying a rate of 4.53%, offers savers a top 10 rate compared to other bonds with similar terms and so may well be an appealing choice for those happy to secure their cash away for the short-term. Savers do need to be comfortable with their initial deposit and term of the account though, as neither early access nor further additions are permitted. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.53% gross / 4.53% AER payable on anniversary
• Notice / term: Two years
• 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. Account available via Raisin UK.

West Brom Building Society – WeBSave 5 Year ISA

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“West Brom Building Society has made various amendments across its range of savings products this week, including the launch of a new WeBSave 5 Year ISA product. This ISA can be opened online and is available to those with minimum deposit amounts from as little as £1. Paying a rate of 4.25% gross, this compares well with other fixed rate ISAs with similar terms and therefore takes a place in the top rate tables. This could well tempt savers who have yet to use their ISA allowance, as may the fact that some flexibility is possible with earlier access to funds being permitted – although subject to an interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.” 

Key product details:

• Rate: 4.25% gross / 4.25% AER payable yearly
• Notice / term: To 31.12.27
• Minimum opening amount: £1
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to 365-day loss of interest penalty
• Further additions: Permitted while issue remains open
• Transfers in: Permitted. Accepts Cash or Stocks and Shares ISAs, Cash and Stocks and Shares LISAs and Innovative Finance ISAs.
• Transfers out: Permitted, subject to 365-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, 60% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“Skipton Building Society has made various cuts to rates in its residential mortgage range this week, including slashing 0.40% from its two-year fixed rate offering at 60% loan-to-value. Borrowers with the required level of equity or deposit may be tempted by the rate alone – which is one of the lowest currently available in its sector at 4.92% – but the addition of a generous incentive package and affordable fee see this deal enter our top tables and earn an Outstanding Moneyfacts product rating.” 

Key product details:

• Rate: 4.92% fixed rate to 31.3.25
• Product fee: £995
• Maximum loan-to-value: 60%
• Available to: All borrower types
• Incentives: Free valuation and £250 cashback
• Flexible features: Allows overpayments. Payment holidays considered (with notice required), after six months, not to exceed level of overpayments made.
• Lending area: Great Britain.

Leeds Building Society – Three-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“Leeds Building Society made rate cuts of up to 0.30% across a selection of its residential mortgage offerings this week. One option which may tempt both those purchasing and those remortgaging is a three-year fixed option at 75% loan-to-value. Taking a reduction of 0.20%, this mid-term fixed rate deal is now priced at 4.99% until 31 March 2026 and may be an attractive choice for those looking to lock in to a mid-term stable monthly payment that they can budget to. The combination of initial rate, reasonable fee and comprehensive incentive package earn this an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.99% fixed rate to 31.3.26
• Product fee: £999
• Maximum loan-to-value: 75%
• Available to: All borrower types
• Incentives: Free valuation for all borrowers, help towards costs for remortgage customers
• Flexible features: Allows overpayments.
• Lending area: England, Wales, mainland Scotland 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 Moneyfactscompare.co.uk, said:

“Skipton Building Society has reduced fixed rates across its buy-to-let range this week. One deal to receive a notable cut of 0.59% is a two-year fixed rate product available up to 75% loan-to-value which may tempt landlords looking for short-term stability with their mortgage. Now priced at 5.37% until 31 March 2025, this option carries a reasonable £995 fee which borrowers have the option to add to their advance, plus an incentive package including a free valuation for all and free legal fees for those remortgaging, which may well be of interest to those hoping to keep any mortgage set-up costs to a minimum. Assessed as a whole package, this deal earns a place in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 5.37% fixed rate to 31.3.25
• Product fee: £995
• Maximum loan-to-value: 75%
• Available to: Second-time buyers and remortgage borrowers
• Incentives: Free valuation for all borrowers and free legal fees for remortgage customers
• Flexible features: Allows overpayments.
• Lending area: Great Britain.

Loans 

Post Office Money ® – Personal Loan

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfactscompare.co.uk, said:

“This week, Post Office Money ® has reduced the rate across a couple of the lending tiers on its Personal Loan. These updates improve the appeal of this already competitive option, particularly for those looking to borrow between £7,500 and £25,000 where rates have decreased by up to 0.4% APR. Customers considering taking on an unsecured loan may also wish to note that this product allows borrowers to overpay without facing an early-repayment charge, which is an element of flexibility some may appreciate. Overall, the product earns an Excellent Moneyfacts product rating.”

Key product details:

• Representative APR: 9.9%
• Loan period: Rate shown is based on a term of 60 months for a £4,999 borrowing
• Application available: Online
• Other information: Minimum age 21, maximum age at end of loan 70. Minimum income £12,000 per annum. You may be offered an alternative APR dependent on credit rating.