Savings
Al Rayan Bank – 12 Month Fixed Term Deposit
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Al Rayan Bank has reduced the expected profit rate on its 12 month deposit this week. However, it maintains a prominent position in the short-term fixed market, now paying an expected profit rate of 5.20% gross. The deal may well appeal to savers who are willing to sacrifice access to their cash in the short-term to secure a competitive return. Overall, this account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.20% gross / 5.30% AER payable quarterly
- Notice / term: 12-month bond
- Minimum opening amount: £5,000
- Maximum investment amount: £1 million
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online, by phone and via its mobile app
- Managing account: Online, by post and via its mobile app
- Other information: Minimum applicant age 16. Joint account option available. Shari’ah compliant account – rates shown are expected profit rate. Quarterly profit can be taken as an income with a reduced rate.
Investec Bank plc – 90-Day Notice Saver
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Investec Bank plc has increased the rate on its 90-Day Notice Saver, which now pays 5.13% gross. This may be ideal for savers looking to boost their income but who also don’t mind giving 90 days’ notice to access their funds. The deal takes a position in our top tables when compared against other notice accounts currently available. As earlier mentioned, access to this account is subject to 90 days’ notice, so careful planning may be sensible for savers. Overall, this account earns an Excellent Moneyfacts product rating and a place in our top rate tables.”
Key product details:
- Rate: 5.13% gross / 5.25% 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.
United Trust Bank – UTB 2 Year Bond
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week, United Trust Bank has reduced the rate on its UTB 2 Year Bond, now paying 4.90%. Despite the reduction, the account retains a competitive position when compared against other two-year fixed bonds. Savers must have a minimum investment of £5,000, however, it would be wise to note that earlier access and further additions are not permitted, so investors may need to ensure they are happy with their initial deposit. Overall, this deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.90% gross / 4.90% AER payable on its anniversary
- Notice / term: Two-year bond
- Minimum opening amount: £5,000
- Maximum investment amount: £1 million
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online
- Managing account: Online, by post and by phone
- Other information: Minimum applicant age 18. Joint account option available.
Hodge Bank – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Hodge Bank has increased the rate on its one-year fixed ISA this week to 4.89% AER. This may be happy news for savers wishing to utilise their full ISA allowance and receive a guaranteed return as the deal takes an attractive position within its sector. However, investors may wish to note that although the deal allows earlier access this is subject to 90 days’ loss of interest so careful planning is ideal. Further additions can also be made for 10 working days from the account opening. On assessment, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.89% gross / 4.89% AER payable yearly/ monthly interest option of 4.78% gross / 4.89% AER also available
- Notice / term: One year
- Minimum opening amount: £1,000
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to 90-day loss of interest penalty
- Further additions: Permitted, for 10 working days from account opening
- Transfers in: Permitted, minimum of £1,000. Accepts Cash ISAs
- Transfers out: Permitted, subject to 90-day loss of interest penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
Mortgages
Santander – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Santander has reduced the rate on its 75% loan-to-value two-year fixed rate deal this week, which is now priced at 4.36% and is available for house purchase. Borrowers can also benefit from an appealing incentive package, which includes a free valuation and zero product fees, making it an ideal option for those looking to save on the upfront cost of their mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.36% fixed rate to 2.6.26
- 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.
Furness Building Society – Two-year fixed rate mortgage, 80% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Furness Building Society has made amendments across a wide number of its fixed rates. The two-year fixed mortgage at 80% loan-to-value is one of the deals which saw a substantial cut and now charges 4.64% and includes a reasonable fee of £999. This deal becomes an attractive option for those looking to save on the upfront cost of their mortgage as this can be added to the advance. Also, borrowers will receive an enticing incentive package of a free valuation and £250 cashback. The deal also offers overpayments as part of its flexible options, which adds to its appeal. Alongside the rate reduction and incentive package, this deal receives 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 borrower types
- Incentives: Free valuation and £250 cashback
- Flexible features: Allows overpayments
- Lending area: Great Britain.
HSBC – Three-year fixed rate mortgage, 85% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“HSBC was also among several lenders who reduced their rates this week. Its three-year fixed mortgage at 85% loan-to-value has seen a small cut and is now priced at 4.78% until 30.4.27. The deal charges a fair fee of £999 and may be an ideal option for those looking to secure a competitive rate and save on the costs of their mortgage for the next three years. This deal also carries an appealing incentive package of a free valuation and has recently added £350 cashback. With the rate reduction and improved incentive package considered, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.78% fixed rate to 30.4.27
- Product fee: £999
- Maximum loan-to-value: 85%
- Available to: House purchase customers
- Incentives: Free valuation and £350 cashback
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Loughborough Building Society – Two-year discounted-variable rate mortgage, 90% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Loughborough Building Society has reduced the rate on its two-year discounted-variable rate mortgage this week. Now priced at 5.69%, the deal charges no upfront product fee and includes an incentive package of free valuation for all borrowers, which makes this deal an appealing option for those who wish to save on the upfront cost of their mortgage. Overall, this deal secures an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.69% discounted-variable rate (collared at 3.50%) for two years
- Product fee: None
- Maximum loan-to-value: 90%
- Available to: All borrowers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: England and Wales.
Buy-to-Let
Lloyds Bank – Five-year fixed rate mortgage, 70% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Lloyds Bank has reduced rates across its buy-to-let mortgage range by as much as 0.57%. One deal seeing a cut is its five-year fixed rate mortgage at 70% loan-to-value which is now priced at 4.48% until 31.5.29. The deal does not carry any arrangement fee and comes with an attractive incentive package of a free valuation and free legal fees, which could entice landlords looking to save on the upfront cost of their mortgage. Overall, this deal earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.48% fixed rate to 31.5.29
- Product fee: None
- Maximum loan-to-value: 70%
- Available to: Second-time buyers
- Incentives: Free valuation and free legal fees
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Banking
TSB – Spend & Save
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“For customers looking to switch their current account provider, TSB has introduced a switching incentive this week for those who switch to either the Spend & Save or Spend & Save Plus account. Customers who switch using the CASS (Current Account Switch Service) will now receive £125 cashback. Once the Spend & Save switch has been completed, customers can earn up to £60 cashback in the first six months when making 20 or more debit card payments each month, however, the account does not pay any credit interest, which customers may wish to consider. As is the case when switching to any account, customers will need to assess all the benefits and charges to ensure it’s the right choice for them. Overall, the account earns an Outstanding Moneyfacts product rating.”
Key product details:
- Credit interest / reward: None
- Cashback on debit card purchases: Customers can earn up to £60 cashback in the first six months when making 20 or more debit card payments each month
- Account fee: None
- Arranged overdraft: 39.90% EAR, plus interest-free for three months on switched current accounts
- Opening account: Online, in branch or mobile app
- Managing account: Online, in branch, by phone, via mobile app or at the Post Office
- Other information: Minimum applicant age 18. Eligible for linked Savings Pots. £125 free cash offer, using the Current Account Switch Service, customers must have logged into the TSB Mobile Banking App, made at least one debit card payment, and have two active Direct Debits by 15 March 2024.
Savings
Al Rayan Bank – 12 Month Fixed Term Deposit
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Al Rayan Bank has reduced the expected profit rate on its 12 month deposit this week. However, it maintains a prominent position in the short-term fixed market, now paying an expected profit rate of 5.20% gross. The deal may well appeal to savers who are willing to sacrifice access to their cash in the short-term to secure a competitive return. Overall, this account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.20% gross / 5.30% AER payable quarterly
- Notice / term: 12-month bond
- Minimum opening amount: £5,000
- Maximum investment amount: £1 million
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online, by phone and via its mobile app
- Managing account: Online, by post and via its mobile app
- Other information: Minimum applicant age 16. Joint account option available. Shari’ah compliant account – rates shown are expected profit rate. Quarterly profit can be taken as an income with a reduced rate.
Investec Bank plc – 90-Day Notice Saver
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Investec Bank plc has increased the rate on its 90-Day Notice Saver, which now pays 5.13% gross. This may be ideal for savers looking to boost their income but who also don’t mind giving 90 days’ notice to access their funds. The deal takes a position in our top tables when compared against other notice accounts currently available. As earlier mentioned, access to this account is subject to 90 days’ notice, so careful planning may be sensible for savers. Overall, this account earns an Excellent Moneyfacts product rating and a place in our top rate tables.”
Key product details:
- Rate: 5.13% gross / 5.25% 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.
United Trust Bank – UTB 2 Year Bond
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week, United Trust Bank has reduced the rate on its UTB 2 Year Bond, now paying 4.90%. Despite the reduction, the account retains a competitive position when compared against other two-year fixed bonds. Savers must have a minimum investment of £5,000, however, it would be wise to note that earlier access and further additions are not permitted, so investors may need to ensure they are happy with their initial deposit. Overall, this deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.90% gross / 4.90% AER payable on its anniversary
- Notice / term: Two-year bond
- Minimum opening amount: £5,000
- Maximum investment amount: £1 million
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online
- Managing account: Online, by post and by phone
- Other information: Minimum applicant age 18. Joint account option available.
Hodge Bank – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Hodge Bank has increased the rate on its one-year fixed ISA this week to 4.89% AER. This may be happy news for savers wishing to utilise their full ISA allowance and receive a guaranteed return as the deal takes an attractive position within its sector. However, investors may wish to note that although the deal allows earlier access this is subject to 90 days’ loss of interest so careful planning is ideal. Further additions can also be made for 10 working days from the account opening. On assessment, the deal earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.89% gross / 4.89% AER payable yearly/ monthly interest option of 4.78% gross / 4.89% AER also available
- Notice / term: One year
- Minimum opening amount: £1,000
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to 90-day loss of interest penalty
- Further additions: Permitted, for 10 working days from account opening
- Transfers in: Permitted, minimum of £1,000. Accepts Cash ISAs
- Transfers out: Permitted, subject to 90-day loss of interest penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
Mortgages
Santander – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Santander has reduced the rate on its 75% loan-to-value two-year fixed rate deal this week, which is now priced at 4.36% and is available for house purchase. Borrowers can also benefit from an appealing incentive package, which includes a free valuation and zero product fees, making it an ideal option for those looking to save on the upfront cost of their mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.36% fixed rate to 2.6.26
- 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.
Furness Building Society – Two-year fixed rate mortgage, 80% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Furness Building Society has made amendments across a wide number of its fixed rates. The two-year fixed mortgage at 80% loan-to-value is one of the deals which saw a substantial cut and now charges 4.64% and includes a reasonable fee of £999. This deal becomes an attractive option for those looking to save on the upfront cost of their mortgage as this can be added to the advance. Also, borrowers will receive an enticing incentive package of a free valuation and £250 cashback. The deal also offers overpayments as part of its flexible options, which adds to its appeal. Alongside the rate reduction and incentive package, this deal receives 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 borrower types
- Incentives: Free valuation and £250 cashback
- Flexible features: Allows overpayments
- Lending area: Great Britain.
HSBC – Three-year fixed rate mortgage, 85% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“HSBC was also among several lenders who reduced their rates this week. Its three-year fixed mortgage at 85% loan-to-value has seen a small cut and is now priced at 4.78% until 30.4.27. The deal charges a fair fee of £999 and may be an ideal option for those looking to secure a competitive rate and save on the costs of their mortgage for the next three years. This deal also carries an appealing incentive package of a free valuation and has recently added £350 cashback. With the rate reduction and improved incentive package considered, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.78% fixed rate to 30.4.27
- Product fee: £999
- Maximum loan-to-value: 85%
- Available to: House purchase customers
- Incentives: Free valuation and £350 cashback
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Loughborough Building Society – Two-year discounted-variable rate mortgage, 90% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Loughborough Building Society has reduced the rate on its two-year discounted-variable rate mortgage this week. Now priced at 5.69%, the deal charges no upfront product fee and includes an incentive package of free valuation for all borrowers, which makes this deal an appealing option for those who wish to save on the upfront cost of their mortgage. Overall, this deal secures an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 5.69% discounted-variable rate (collared at 3.50%) for two years
- Product fee: None
- Maximum loan-to-value: 90%
- Available to: All borrowers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: England and Wales.
Buy-to-Let
Lloyds Bank – Five-year fixed rate mortgage, 70% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Lloyds Bank has reduced rates across its buy-to-let mortgage range by as much as 0.57%. One deal seeing a cut is its five-year fixed rate mortgage at 70% loan-to-value which is now priced at 4.48% until 31.5.29. The deal does not carry any arrangement fee and comes with an attractive incentive package of a free valuation and free legal fees, which could entice landlords looking to save on the upfront cost of their mortgage. Overall, this deal earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.48% fixed rate to 31.5.29
- Product fee: None
- Maximum loan-to-value: 70%
- Available to: Second-time buyers
- Incentives: Free valuation and free legal fees
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Banking
TSB – Spend & Save
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“For customers looking to switch their current account provider, TSB has introduced a switching incentive this week for those who switch to either the Spend & Save or Spend & Save Plus account. Customers who switch using the CASS (Current Account Switch Service) will now receive £125 cashback. Once the Spend & Save switch has been completed, customers can earn up to £60 cashback in the first six months when making 20 or more debit card payments each month, however, the account does not pay any credit interest, which customers may wish to consider. As is the case when switching to any account, customers will need to assess all the benefits and charges to ensure it’s the right choice for them. Overall, the account earns an Outstanding Moneyfacts product rating.”
Key product details:
- Credit interest / reward: None
- Cashback on debit card purchases: Customers can earn up to £60 cashback in the first six months when making 20 or more debit card payments each month
- Account fee: None
- Arranged overdraft: 39.90% EAR, plus interest-free for three months on switched current accounts
- Opening account: Online, in branch or mobile app
- Managing account: Online, in branch, by phone, via mobile app or at the Post Office
- Other information: Minimum applicant age 18. Eligible for linked Savings Pots. £125 free cash offer, using the Current Account Switch Service, customers must have logged into the TSB Mobile Banking App, made at least one debit card payment, and have two active Direct Debits by 15 March 2024.
