Savings

cahoot – cahoot Sunny Day Saver (Issue 2)

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“cahoot has reduced the rate on its Sunny Day Saver account this week. Paying 5.00% gross/AER on anniversary, the deal retains a prominent place in our top rate tables when compared against other easy access accounts and accounts offering monthly interest. Savers will need as little as £1 to open the account and it may be an ideal option for those looking for some flexibility when it comes to their savings. Adding to its appeal there is a monthly interest option, paying 4.89% gross / 5.00% AER, for those looking to give a boost to their income. However, it is worth noting that no interest is paid on the portion of balance over £3,000 which may be worth considering. The account secures an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.00% gross / 5.00% AER payable on anniversary or monthly interest option 4.89% gross / 5.00% AER. No interest paid on the portion of balance over £3,000
• Notice / term: None
• Minimum opening amount: £1
• Maximum investment amount: £2 million
• Access: Permitted
• Further additions: Permitted
• Opening account: Online
• Managing account: Online and by phone
• Other information: Minimum applicant age 16. Joint account option available. Reverts into a cahoot Savings Account after 12 months.

The Stafford Building Society – Notice 60 Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week The Stafford Building Society has re-launched its 60-day notice ISA. Paying 5.00%, the deal takes a competitive place in our top rate tables when compared against other variable ISAs. This may be an enticing option for savers who don’t mind giving prior notification to accessing their cash. They can invest as little as £100, and further additions and transfers into the account are permitted, which may be a bonus. On assessment, the account secures an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.00% gross / 5.00% AER payable yearly
• Notice / term: 60 days
• Minimum opening amount: £100
• Maximum investment amount: ISA allowance
• Access: Not permitted unless 60 days’ notice is given
• Further additions: Permitted
• Transfers in: Permitted. Accepts Cash ISAs
• Transfers out: Not permitted unless 60 days’ notice is given
• Opening account: Online, by post and in branch
• Managing account: By post and in branch
• Other information: Minimum applicant age 16.

Close Brothers Savings – 2 Year Fixed Rate Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Close Brothers Savings has launched a handful of fixed rate cash ISAs this week, including a 2 Year Fixed Rate Cash ISA, which pays 4.40%. The deal places competitively among its peers and may entice savers looking for a guaranteed return over the next two years. Savers will need £10,000 to invest but further additions are permitted for 10 days from the account opening. However, savers should be cautious as even though early access is permitted, this will result in account closure and is subject to a 150-day loss of interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.40% gross / 4.40% AER payable yearly
• Notice / term: Two years
• Minimum opening amount: £10,000
• Maximum investment amount: ISA allowance
• Access: Permitted, on account closure and subject to a 150-day loss of interest penalty
• Further additions: Permitted, for 10 days from account opening
• Transfers in: Permitted, allows Cash and Stocks and Shares ISAs. Transfer instructions must be received within 10 days of account opening  
• Transfers out: Permitted, subject to a 150-day loss of interest penalty
• Opening account: Online
• Managing account: Online, by phone and by post
• Other information: Minimum applicant age 18.

Mortgages

NatWest – Two-year fixed rate mortgage, 60% loan-to-value

 Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside extending end dates, NatWest has reduced most of its fixed rates by up to 0.19%. Seeing a slightly smaller reduction of 0.12% is its five-year fixed rate deal which is now priced at a competitive 3.71% until 31 December 2029, making it the lowest rate in its sector. The deal is available for borrowers looking to have 40% equity in their home and they may be glad to find a free valuation incentive. However, the deal does come with a large product fee of £1,495, which may need to be considered. It is worth noting that this is an online exclusive deal. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• 3.71% fixed rate to 31.12.29
• Product fee: £1,495
• Maximum loan-to-value: 60%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain, Northern Ireland.

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

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Barclays Mortgage has launched a handful of new fixed rates and also made several rate reductions this week. One deal to see a small cut of 0.08% is its five-year fixed rate deal at 75% loan-to-value, which charges an appealing 3.95% until 31.12.29. Borrowers will find an £899 fee attached as well as an incentive package which includes a free valuation, so this deal may well attract borrowers looking to save on the upfront cost of their mortgage. Those who wish to save on their monthly payments in the future have the option to make overpayments. Overall, this deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 3.95% fixed rate to 31.12.29
• Product fee: £899
• Maximum loan-to-value: 75%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

HSBC – Two-year fixed rate mortgage, 90% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week HSBC has made rate amendments across most of its residential mortgage range. One of the options to receive a cut of 0.05% is its two-year fixed rate deal at 90% loan-to-value, which now charges 5.19%. The deal comes with a £999 fee and includes a free valuation incentive which may add to its appeal. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 5.19% fixed rate to 31.12.26
• Product fee: £999
• Maximum loan-to-value: 90%
• Available to: House purchase customers
• Incentives: Free valuation and £250 cashback
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Buy-to-Let

NatWest – Two-year fixed rate mortgage, 60% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, NatWest has made its return to the buy-to-let sector with a selection of fixed rate deals for landlords. One deal of note is its two-year fixed rate ‘Online Exclusive’ deal at 60% loan-to-value, which is priced at a competitive 3.99% until 31 December 2026. However, the deal does come with a large product fee of £3,499 which may need to be considered but this is marginally offset by a free valuation incentive. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• 3.99% fixed rate to 31.12.26
• Product fee: £3,499
• Maximum loan-to-value: 60%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain, Northern Ireland.

Principality Building Society – Five-year fixed rate mortgage, 60% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week Principality Building Society has made reductions to selected rates within its range, including a five-year fixed rate deal for landlords at 60% loan-to-value which has seen a 0.07% cut and is now priced at 4.28% until 31.12.29. The deal comes with an appealing incentive package which includes a free valuation, however, there is a £1,395 product fee which may need to be considered. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.28% fixed rate to 31.12.29
• Product fee: £1,395
• Maximum loan-to-value: 60%
• Available to: Second-time buyers and remortgage customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: England and Wales.

Cards

MBNA Limited – Long 0% Balance Transfer Credit Card Mastercard

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“The latest update from MBNA Limited sees an increase to the introductory balance term on its Long 0% Balance Transfer card to 29 months, as well as reducing the balance transfer fee to 3.48%. Both improvements enhance its position in the market and act as an attractive option for borrowers looking to transfer existing balances interest-free. Adding to its appeal it also offers interest-free money transfers for the first 12 months. As always, it is sensible for borrowers to ensure that this deal is suitable for their circumstances. 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 29 months
• Standard rate for purchases: 24.9% APR
• Balance transfer fee: 3.48% 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.