Savings

Plum – Plum Cash ISA

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

“Plum has increased the rate on the £100 tier of its Plum Cash ISA this week. The account now pays 4.92% AER, which includes a 1.63% AER bonus for the first 12 months and savers would be wise to review their deal when this expires. However, the account retains its competitive position in the market when compared against its peers and interest is paid monthly so this may appeal to consumers looking to boost their income. The account can be opened with as little as £1 but consumers should keep in mind that they will receive lower returns at this investment level. Savers only have a handful of penalty free withdrawals and once they reach four or more the rate will drop to 3.29% AER. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 3.25% gross / 3.29% AER paid from £1, 4.86% gross / 4.92% AER paid from £100, payable monthly (including a 1.61% gross / 1.63% AER bonus for 12 months on the £100 tier only, payable on first anniversary from account opening)
• Notice / term: None
• Minimum opening amount: £1
• Maximum investment amount: ISA allowance
• Access: Permitted, 3.25% gross / 3.29% AER paid if more than three withdrawals are made per year. Minimum withdrawal £1
• Further additions: Permitted, minimum addition £1
• Transfers in: Permitted, accepts Cash ISAs, Stocks & Shares ISAs, Help to Buy ISAs, Lifetime ISAs, Innovative Finance ISAs and Stocks & Shares LISAs. Bonus rate not applicable if opened via transfer of an existing ISA
• Transfers out: Permitted
• Opening account: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18. Operated by Citibank UK Limited. Bonus rate only applicable if a minimum account balance of £100 is maintained and not opened via transfer of an existing ISA. Investors can choose to split their Cash ISA savings across multiple ISAs within Plum’s range.

Oxbury Bank – 120 Day Notice Base Rate Tracker (Issue 1)

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

“Oxbury Bank has re-launched a few of its Notice Base Rate Tracker Accounts, including its 120-day offering. Paying 4.60% AER, it takes the market-leading position in the notice sector, as well as placing competitively in the monthly interest tables. The account tracks base rate so savers should be cautious of any rate cuts but the deal comes with an AER rate guaranteed to pay 0.35% above Bank Base Rate. Savers will need to invest at least £1,000 and as is the case with many notice accounts, they will need to give prior notice before making a withdrawal. Additionally, investors must note that their initial deposit must be made within the first 90 days of account opening or the account will close automatically. Overall, the deal earns an Excellent Moneyfacts product rating.”

 Key product details:

• Rate: 4.51% gross / 4.60% AER payable monthly
• Notice / term: 120 days
• Minimum opening amount: £1,000
• Maximum investment amount: £500,000
• Access: Permitted, subject to 120 days’ notice via nominated account
• Further additions: Permitted via a nominated account
• Opening account: Online
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. Oxbury App required to use online banking. Initial deposit must be made within 90 days of account opening, or account will automatically close.

Union Bank of India (UK) Ltd – 1 Year Fixed Rate Deposit

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

“Union Bank of India (UK) Ltd has increased a selection of its Fixed Rate Deposits and Union Premier Bonds by up to 0.15%. The 1 Year Fixed Rate Deposit now pays 4.47% on maturity and it takes a competitive position in the top tables when compared to other one-year fixed bonds. Savers will need at least £1,000, but those who can pay a bit extra can opt into the 1 Year Union Premier Bond, which requires a minimum investment of £5,000 and also pays 4.47%. As is common in the fixed market, savers should ensure that they are satisfied with their initial deposit amount as early access and further additions are not permitted. Overall, the account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.47% gross / 4.47% AER payable on maturity
• Notice / term: One year
• Minimum opening amount: £1,000
• Maximum investment amount: £1 million
• Access: Not permitted
• Further additions: Not permitted
• Opening account: By post and in branch
• Managing account: By post and in branch
• Other information: Simple interest. 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.

JN Bank – 2 Year Fixed Term Savings Account

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

“JN Bank has reduced the rates on its two- and three-year options of its Fixed Term Savings Accounts this week. The two-year option now pays 4.40%, which retains a prominent position in the market. Savers can make an initial deposits as small as £100. As is the case with many fixed term accounts, earlier access is not permitted, so savers must be comfortable not having any access to their cash for the full term. In more positive news, consumers can make 11 additional payments after initial funding for 14 days from the account opening. On assessment, the account earns an Excellent Moneyfacts product rating.”

 Key product details:

• Rate: 4.40% gross / 4.40% AER payable on its anniversary
• Notice / term: Two-year bond
• Minimum opening amount: £100
• Maximum investment amount: £500,000
• Access: Not permitted
• Further additions: 11 additional payments permitted after initial funding for 14 days from account opening
• Opening account: Online
• Managing account: Online and by phone
• Other information: Minimum applicant age 18.

Cynergy Bank – 1 Year Fixed Rate Cash ISA

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

“This week, Cynergy Bank has increased the rate on its 1 Year Fixed Rate Cash ISA which now pays 4.35%, taking the market-leading position. Savers can invest as little as £500 and up to their maximum ISA allowance. Although earlier access is permitted, like many fixed ISAs this is subject to penalties which include 180-day loss of interest and account closure. However, in more positive news further additions of at least £100 are permitted into the Variable Rate Cash ISA at any time. Overall, the account earns an Excellent Moneyfacts product rating.”

 Key product details:

• Rate: 4.35% gross / 4.35% AER payable on anniversary
• Notice / term: One year
• Minimum opening amount: £500
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to account closure and 180-day loss of interest
• Further additions: Permitted and deposited into Variable Rate Cash ISA. Minimum addition £100.
• Transfers in: Permitted. Accepts Cash ISAs
• Transfers out: Permitted, subject to account closure and 180-day loss of interest
• Opening account: Online
• Managing account: Online, by phone and by post
• Other information: Minimum applicant age 16. Cynergy Bank Authenticator App or Digipass required to use online banking. Investors can choose to split their Cash ISA savings across multiple ISAs within Cynergy Bank’s range.

Mortgages

Yorkshire Building Society – Five-year fixed rate mortgage, 75% loan-to-value

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

“House purchase customers seeking a competitive mortgage deal with reasonable upfront costs may find this latest fixed rate deal from Yorkshire Building Society an attractive choice. The five-year fixed rate mortgage for borrowers with a 25% deposit has seen a 0.12% cut and now charges 4.04% until 30 September 2030. The deal charges a £995 product fee, but this is offset by a free valuation incentive. Borrowers are also able to make overpayments, as well as underpayment and payment holidays subject to conditions. Following the cut in rate, the offering earns an Outstanding Moneyfacts product rating.”

 Key product details:

• Rate: 4.04% fixed rate to 30.9.30
• Product fee: £995
• Maximum loan-to-value: 75%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed level of overpayments previously made
• Lending area: Great Britain and Northern Ireland.

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

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

“This week, Barclays Mortgage has cut rates across some of its fixed residential offerings alongside launching one new deal. The two-year offering at 60% loan-to-value has seen a 0.11% cut and is now priced at 4.09% until 30 September 2027. This deal may appeal to prospective home buyers that are looking to keep initial costs low as there is no product fee charged and there is also a free valuation incentive. Overall, the combination of low rate, fee and incentive package earns this deal an Outstanding Moneyfacts product rating.”

 Key product details:

• Rate: 4.09% fixed rate to 30.9.27
• Product fee: None
• Maximum loan-to-value: 60%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Halifax – Three-year fixed rate mortgage, 80% loan-to-value

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

“Halifax has reduced selected fixed rates for house purchase and remortgage borrowers by up to 0.16% this week. One deal to see this cut is the three-year fixed deal for remortgage customers with 20% equity. The deal is now priced at 4.39% until 31 August 2028. There is a reasonable £999 product fee which can be added to the advance, and this is also offset by its enticing incentive package which includes a free valuation and free legal fees, for qualifying Green’ properties borrowers could also receive £250 cashback. On assessment, this deal receives an Outstanding Moneyfacts product rating.”

 Key product details:

• Rate: 4.39% fixed rate to 31.8.28
• Product fee: £999
• Maximum loan-to-value: 80%
• Available to: Remortgage customers
• Incentives: Free valuation and free legal fees. ‘Green Home’ £250 cashback for qualifying properties only
• Flexible features: Allows overpayments. Payment holidays considered, after one year, and subject to approval
• Lending area: Great Britain and Northern Ireland.

Buy-to-Let

Skipton Building Society – Two-year variable tracker rate mortgage, 60% loan-to-value

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

“This week, Skipton Building Society has repriced most of its buy-to-let rates, including its variable rate options. The two-year deal at 60% loan-to-value has been cut by 0.08% and is now priced at 4.97%. Landlords will find a free valuation incentive is included and those remortgaging will also receive free legal fees. The product fee of £745 can be added to the advance of the mortgage, which may attract those looking to save on the upfront cost. Overall, the deal earns an Excellent Moneyfacts product rating.”

 Key product details:

• 4.97% variable tracker rate (collared at 3.00%) for two years
• Product fee: £745
• Maximum loan-to-value: 60%
• Available to: Second-time buyers and remortgage customers
• Incentives: Free valuation for all borrowers and free legal fees for remortgage customers
• Flexible features: Allows overpayments
• Lending area: Great Britain.

Banking

Zopa – Biscuit Current Account

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

“The latest update from Zopa sees it launch its new Biscuit Current Account. The account offers customers 2.00% AER on balances for the first year, which sees it take a competitive position among other high interest paying current accounts. This may entice consumers who have not yet built a savings habit. To add to its appeal consumers can also receive 2% cashback on up to £1,500 worth of direct debits per year and they can also benefit from £200 fee free cash withdrawals abroad per month. However, it may be worth noting that the account currently does not offer any arranged overdraft. On assessment, this deal earns an Excellent Moneyfacts product rating.  

 Key product details:

• Credit interest / reward: 1.96% gross / 2.00% AER
• Cashback on debit card purchases: None
• Account fee: None
• Arranged overdraft: None
• Opening account: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18. Eligible for linked Regular Savings Pot allowing deposits of up to £300 per month. Earn 2% cashback on up to £1,500 of direct debits guaranteed for 12 months.

NatWest – Reward Current Account

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

“For consumers looking to switch to a new current account provider, NatWest has introduced a new switching incentive on its Reward Current Account for customers looking to switch from their current provider. Customers who switch using the CASS (Current Account Switch Service) will now receive £125 cashback provided certain conditions are met, with an additional £50 on offer to those going on to open a Digital Regular Saver. Further adding to its appeal, customers can expect to receive £5 a month in rewards. However, the account does not pay any credit interest and has a monthly £2 fee, which should be considered. 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 Excellent Moneyfacts product rating.”  

 Key product details:

• Credit interest / reward: None
• Cashback on debit card purchases: None
• Account fee: £2
• Arranged overdraft: 39.49% EAR
• Opening account: Online, by phone or in branch
• Managing account: Online, in branch, by phone, by post, via mobile app and at the Post Office
• Other information: Minimum applicant age 18. £125 free cash offer, using the Current Account Switch Service, must deposit £1,250 and log in to mobile banking app within 60 days of switching. Receive an additional £50 cashback when opening a Digital Regular Saver online or via the app within 60 days of switching. Terms & Conditions apply. Customers can earn up to £5 a month in rewards. Earn at least 1% Rewards on qualifying purchases at selected retailers which can be converted to cashback, trade up vouchers or donated to charity. Earn 4 Rewards per month by making a minimum of 2 direct debit payments of at least £2 each. Earn an additional 1 Reward by logging into mobile banking app every month. Once 5 Rewards are available, they can be exchanged for a £5 current account credit, traded up for Reward vouchers at selected retailers or donated to a participating charity.