Savings

Vanquis Bank – Easy Access Account (Issue 3)

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

“Vanquis Bank has increased the rate on the third issue of its Easy Access Account this week. Now paying 4.85% on the account’s anniversary, the deal takes a competitive position in the no notice sector. Savers will need to invest a minimum of £1,000 and this may attract those looking for flexibility in terms of their savings, additionally there is a monthly interest option available to those who wish to boost their income. On assessment, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.85% gross / 4.85% AER payable on anniversary / monthly interest option of 4.75% gross / 4.85% AER also available
• Notice / term: None
• Minimum opening amount: £1,000
• Maximum investment amount: £250,000
• Access: Permitted
• Further additions: Permitted
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18. Joint account option available.

Punjab National Bank (International) Limited – 1 Year Fixed Rate Cash ISA

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

“Punjab National Bank (International) Limited has reduced the rates on several of its accounts this week, including its 1 Year Fixed Rate Cash ISA. Despite the reduction, the account remains in the top rate tables when compared to its peers. Savers looking to use their tax-free ISA allowance may be tempted by the rate of return but should note that earlier access is only permitted on account closure and is subject to 30 days’ notice and no interest payment. Overall, the account earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.60% gross / 4.60% AER payable on maturity
• Notice / term: One year
• Minimum opening amount: £1,000
• Maximum investment amount: ISA allowance
• Access: Permitted on closure, subject to 30 days’ notice and no interest paid
• Further additions: Not permitted
• Transfers in: Permitted. Accepts cash ISAs
• Transfers out: Permitted on closure, subject to 30 days’ notice and no interest paid
• Opening account: By post and in branch
• Managing account: By post and in branch
• Other information: Minimum applicant age 16.

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 4.50%. Despite the reduction, the account competes strongly 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: 4.50% gross / 4.50% 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 phone, and by post
• Other information: Minimum applicant age 18. Joint account option available.

Aldermore – 2 Year Fixed Rate Cash ISA

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

“Aldermore has increased the rate on its two-year fixed ISA this week to 4.35% on anniversary, which sees it take a competitive position against its peers. Unlike some of its ISA counterparts, this deal also offers a monthly interest option, which pays 4.27% gross. Savers searching for a guaranteed return on their cash and wishing to utilise their ISA allowance may find this an enticing choice. Adding to its appeal they have the option to split their Cash ISA savings across multiple ISAs within Aldermore’s range. However, investors should consider any withdrawals carefully as they are subject to a 180 days’ interest-loss penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.35% gross / 4.35% AER payable on anniversary/ monthly interest option of 4.27% gross / 4.35% AER also available
• Notice / term: Two years
• Minimum opening amount: £1,000
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to 180-day loss of interest penalty
• Further additions: Permitted for 14 days from account opening
• Transfers in: Permitted within 14 days of account opening. Accepts Cash, Stocks and Shares and Help to Buy ISAs
• Transfers out: Permitted, subject to 180-day loss of interest penalty
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18. Investors can choose to split their Cash ISA savings across multiple ISAs within Aldermore’s range.

Hodge Bank – 5 Year Fixed Rate Bond

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

“This week, Hodge Bank has reduced the rate on its 5 Year Fixed Rate Bond, despite this the account maintains a position in the market. The account now pays 4.28% gross/AER on anniversary or 4.20% gross / 4.28% AER monthly for savers wishing to boost their income. This may be a good option for investors looking for a guaranteed return on their deposits, however, they must be comfortable with locking their investments in the long-term as early access is not permitted. They may be glad to see that they can make further additions up to 14 days from the account opening. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.28% gross / 4.28% AER, payable on anniversary / monthly interest option of 4.20% gross / 4.28% AER also available
• Notice / term: Five years
• Minimum opening amount: £1,000
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Permitted for 14 days from account opening via nominated account
• Opening account: Online
• Managing account: Online
• Other information: Minimum applicant age 18.

Mortgages

first direct – Five-year fixed rate mortgage, 75% loan-to-value

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

“first direct has reduced almost all of its fixed rates within its residential mortgage range by up to 0.25% this week. For those remortgaging, the five-year deal at 75% loan-to-value has seen a 0.20% cut and is now priced at 3.94%. Borrowers may be glad to see that this deal charges a smaller than average fee of £490 and comes with an attractive incentive package which includes a free valuation and free legal fees, which may be ideal for those looking to save on the upfront cost of their mortgage. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 3.94% fixed rate for five years
• Product fee: £490
• Maximum loan-to-value: 75%
• Available to: Remortgage customers
• Incentives: Free valuation and free legal fees
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

TSB – Three-year fixed rate mortgage, 95% loan-to-value

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

“TSB has reduced some fixed rate offerings this week. One deal to see a 0.10% cut is the three-year deal at 95% loan-to-value priced at 5.49% until 31 December 2027. Borrowers may be glad to see that this deal does not charge any product fees, and it also comes with an attractive incentive package which includes a free valuation and £500 cashback, which may be ideal for those looking to save on the upfront cost of their mortgage. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.49% fixed rate to 31.12.27
• Product fee: None
• Maximum loan-to-value: 95%
• Available to: First-time buyers
• Incentives: Free valuation and £500 cashback
• Flexible features: Allows overpayments. Also payment holidays after one year, which are subject to approval
• Lending area: Great Britain.

HSBC – Two-year fixed rate mortgage, 95% loan-to-value

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

“This week HSBC has reduced a large selection of its fixed rates by up to 0.16%. One of the options to receive this is its two-year fixed rate deal at 95% loan-to-value, which now charges 5.59%. The deal comes with no fee and includes a free valuation and up to £500 cashback incentive which may add to its appeal. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 5.59% fixed rate to 31.12.26
• Product fee: None
• Maximum loan-to-value: 95%
• Available to: House purchase customers
• Incentives: Free valuation and £500 cashback for first-time buyers or £250 for second-time buyers
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Buy-to-let

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

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

“TSB has made reductions across its fixed rate offerings for landlords this week. The two-year deal at 75% loan-to-value is priced at 4.39% until 31 January 2027. The deal charges a £1,995 product fee; however, this is slightly offset by the free valuation incentive. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.39% fixed rate to 31.1.27
• Product fee: £1,995
• Maximum loan-to-value: 75%
• Available to: Second-time buyers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain.

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

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

“This week HSBC has reduced a selection of its fixed rates for landlords One deal to see a small cut of 0.04% is its five-year fixed rate deal at 75% loan-to-value, which now charges 4.00% until 31 December 2029. The deal comes with a large fee of £3,999 which is partially offset by the free valuation incentive. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.00% fixed rate to 31.12.29
• Product fee: £3,999
• Maximum loan-to-value: 75%
• Available to: Second-time buyers
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

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 a reduction to the introductory balance term on its Long 0% Balance Transfer card to 27 months, as well as increasing the balance transfer fee to 3.49%. Despite this, the card maintains a competitive position in the market and continues to be 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 27 months
• Standard rate for purchases: 24.9% APR
• Balance transfer fee: 3.49% 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.