Savings

Chip – Instant Access powered by ClearBank

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

“Savers who want to be able to maintain access to their savings pot and want an account which enables both withdrawals and further additions may be tempted by the Chip Instant Access powered by ClearBank product. Chip has removed the 3.00% bonus return and increased the interest rate from 0.00% to now pay 3.01% gross. This mobile-operated account now takes a prominent position in our top tables compared to other easy access accounts currently available. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days subscription. Overall, this account earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 3.01% gross / 3.05% AER payable monthly
• Notice / term: None
• Minimum opening amount: £1
• Maximum investment amount: £250,000
• Access: Permitted
• Further additions: Permitted
• Opening account: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18. Open banking connection to current account is required.

Investec Bank plc – 90-Day Notice Saver  Issue 1

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

“Savers who want to combine the ability to maintain some access their savings pot with earning a competitive rate of return might be pleased to see that Investec Bank plc has increased the rate paid on its 90-Day Notice Saver. Now paying 3.49% gross, this takes a market-leading position in the top 10 compared to other notice accounts currently on offer. Any withdrawals are subject to the required 90-day notice period, but with careful planning this may well be an attractive choice for some savers. Overall, this account earns an Excellent Moneyfacts product rating and a place in our top rate tables.”

Key product details:

• Rate: 3.49% gross / 3.55% AER payable monthly
• Notice / term: 90 days
• Minimum opening amount: £5,000
• Maximum investment amount: £250,000
• Access: Permitted, subject to 90 days’ notice
• Further additions: Permitted
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18.

Castle Trust Bank – 1 Year Fixed Rate e-Cash ISA

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

“This week Castle Trust Bank has increased the rate on its 1 Year Fixed Rate e-Cash ISA. Rising to now pay a return of 3.90% on maturity, this ISA offers a competitive return when compared against alternative ISAs with a similar term and may well be a tempting choice for those yet to use their tax-free savings allowance. Savers will be able to make further additions for 14 days from opening the account, and there is a little flexibility to access their nest egg – subject to account closure and loss of interest penalty – which may boost this ISA’s appeal further. Assessed overall, this earns an Excellent Moneyfacts product rating and takes a place in our top tables.”

Key product details:

• Rate: 3.90% gross / 3.90% AER payable on maturity
• Notice / term: One year
• Minimum opening amount: £1,000
• Maximum investment amount: ISA allowance
• Access: Permitted on closure, and subject to a 90-day loss of interest penalty
• Further additions: Permitted for 14 days from account opening
• Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
• Transfers out: Permitted on closure, subject to a 90-day 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. If minimum investment is not made within 14 days of account opening, no interest is paid and the balance is refunded.

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 launched a new Raisin UK – 1 Year Fixed Term Deposit this week. Paying 4.20%, this account scoops a prominent spot in the top 10 when compared to other bonds with similar terms currently on offer. As is common with fixed accounts, savers must be comfortable with their initial deposit and the duration of the fixed term, as early access is not permitted until maturity. Overall, this account receives an Excellent Moneyfacts product rating and a place in our top tables.”

Key product details:

• Rate: 4.20% gross / 4.20% 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.

NatWest – Digital Regular Saver

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

“This week, NatWest has increased the rate payable on its Digital Regular Saver. Following the rise, it now pays 6.00% gross on monthly contributions and therefore retains its pole position within the top 10 when compared to other regular savings deals currently on offer. This account may well appeal to those looking to use some of their disposable income to kickstart a savings habit as this account requires savers to deposit between £1 and £150 each month. Investors may wish to note though that on balances of over £5,000, the rate paid reduces to 0.65% for the portion over £5,000. On assessment, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 6.00% gross / 6.17% AER payable monthly / for the portion of balances over £5,000 a rate of 0.65% gross / 0.65% AER monthly is paid
• Notice / term: Instant
• Minimum opening amount: £1
• Maximum investment amount: Maximum of £150 per month
• Access: Permitted
• Further additions: Unlimited number of additions permitted, up a maximum total of £150 per month. A regular standing order must be set up on opening for any amount between £1 - £150.
• Opening account: Online and via its mobile app
• Managing account: Online, by phone, in branch and via its mobile app
• Other information: Minimum applicant age 16. Available to new and existing current account customers.

Mortgages 

Furness Building Society – Two-year fixed rate mortgage, 80% loan-to-value

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

“Borrowers looking to remortgage, as well as those looking to purchase, and who have the required 20% deposit or equity available may be interested to note that among the deals to receive a rate reduction from Furness Building Society this week is a two-year fixed option at 80% loan-to-value. This product is now priced at a competitive 4.64% fixed for two years, and might be an attractive option to those looking to lock into a short-term fixed rate and guarantee their monthly mortgage payments for the initial term. Those hoping to keep any outlay on mortgage set-up costs to a minimum may wish to note that while the product carries a £999 fee, there is the option to add that to the advance, and there is also an incentive package on offer too. Assessed as a whole, this deal takes a place in our top tables and earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.64% fixed rate for two years
• Product fee: £999
• Maximum loan-to-value: 80%
• Available to: All borrowers
• Incentives: Free valuation and £250 cashback
• Flexible features: Allows overpayments
• Lending area: Great Britain.

Halifax – Five-year fixed rate mortgage, 85% loan-to-value

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

“This week Halifax has cut up to 0.36% from selected deals for house purchase customers. It now offers a five-year fixed rate which is available at 85% loan-to-value. Following a rate reduction of 0.32% this is priced at 4.42% until 31 May 2028. Those who have stretched to be able to save up for a 15% deposit may be further tempted by the fact there is no fee to pay for this product. This may be an attractive option for those looking to secure a stable mid-term fixed rate. When assessed as a whole package, this mortgage gains an Outstanding Moneyfacts product rating and a place in our top tables.” 

Key product details:

• Rate: 4.42% fixed rate to 31.5.28
• Product fee: None
• Maximum loan-to-value: 85%
• Available to: House purchase customers
• Incentives: Green Home £250 cashback for properties with an Energy Efficiency Band of A or B or a rating of 81 or higher
• Flexible features: Allows overpayments. Payment holidays considered, subject to approval and after one year
• Lending area: Great Britain and Northern Ireland.

first direct – Five-year fixed rate mortgage, 60% loan-to-value

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

“first direct has made various rate reductions across its range of residential mortgage deals this week. Its five-year fixed rate product at 60% loan-to-value was one of the products to see a cut, and is now priced below 4%, fixed at 3.99% for five years. This deal is available to both those purchasing and those remortgaging and may be a tempting choice for those looking to secure the security of a mid-term fixed rate. The appeal of this product is boosted by the fact there is a relatively low £490 fee, and there is also an incentive package including a free valuation for all, while those remortgaging may also be able to benefit from free legal fees.  On assessment, this mortgage gains an Outstanding Moneyfacts product rating and a place in our top tables.”

Key product details:

• Rate: 3.99% fixed rate for five years
• Product fee: £490
• Maximum loan-to-value: 60%
• Available to: All borrowers
• Incentives: Free valuation and, for remortgage borrowers, free legal fees
• Flexible features: Allows overpayments 
• Lending area: Great Britain and Northern Ireland.

Buy-to-let

Accord Mortgages – Two-year fixed rate mortgage, 75% loan-to-value

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

“Accord Mortgages has reduced its buy-to-let fixed rate options this week by up to 0.24%. One deal that may catch the eye of landlords who are looking to purchase a rental property is the two-year fixed option at 75% loan-to-value. Following a rate cut this is now priced at 5.34% until 30 April 2025. Those who need to keep any costs associated with taking on a new mortgage to a minimum may be further tempted by the fact the reasonable fee (for which there is the option to add to the advance) is slightly offset by a generous incentive package, which includes both a free valuation and £500 cashback. Assessed as a whole, this option secures a place in our top tables for Intermediaries and receives an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 5.34% fixed rate to 30.4.25
• Product fee: £995
• Maximum loan-to-value: 75%
• Available to: Second-time buyers
• Incentives: Free valuation and £500 cashback
• Flexible features: Allows overpayments
• Lending area: Great Britain. Available via Intermediaries.

Barclays Mortgage – Five-year fixed rate mortgage, 75% loan-to-value

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

“Barclays Mortgage has reduced a number of rates within its buy-to-let range this week, including applying a 0.52% cut on its 75% loan-to-value five-year fixed option. Now priced at 4.90% until 31 March 2028, this significant rate reduction sees this product become the lowest initial rate available within this sector of the market and could well be a tempting choice for landlords looking to purchase on that basis. This product continues to carry a reasonable £1,295 fee which can either be paid upfront or added to the balance, and despite the lack of additional incentives, when considered as a whole package, this secures a place in our top tables and receives an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.90% fixed rate to 31.3.28
• Product fee: £1,295
• Maximum loan-to-value: 75%
• Available to: House purchase customers
• Incentives: None
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.