Savings

Moneybox – Moneybox Cash ISA

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“Moneybox has increased the rate on its Moneybox Cash ISA this week, taking the market-leading position when compared to its peers. The account now pays 4.39% AER, and interest is paid monthly so this may be an enticing option for those wanting to boost their income. However, savers should note this includes a 0.94% AER bonus for 12 months, so it is important that they review their deal regularly. Savers are only able to make a limited number of withdrawals, if they exceed the three penalty-free ones they will see the rate drop significantly to just 0.75% AER. In more positive news, further additions are permitted at any time into the account and investors can choose to split their Cash ISA savings across multiple ISAs within Moneybox’s range. On assessment, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.30% gross / 4.39% AER payable monthly (includes a 0.90% gross / 0.94% AER bonus for 12 months)
• Notice / term: None
• Minimum opening amount: £500
• Maximum investment amount: ISA allowance
• Access: Permitted. Lower rate of 0.75% gross/AER paid if more than three withdrawals made per 12-month period
• Further additions: Permitted
• Transfers in: Permitted. Accepts Cash, Stocks and Shares, Help to Buy and Innovative Finance ISAs
• Transfers out: Permitted
• Opening account: Online and via mobile app
• Managing account: Online and via mobile app
• Other information: Minimum applicant age 18. New customers only. Investors can choose to split their Cash ISA savings across multiple ISAs within Moneybox’s range.

Mortgages

Skipton Building Society – Three-year fixed rate mortgage, 95% loan-to-value

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“Skipton Building Society has reduced selected fixed rate mortgages by up to 0.10% this week. The three-year option at 95% loan-to-value has seen a slightly smaller 0.03% cut and is now priced at 4.75%. With no fee to pay and its free valuation incentive, this may be an attractive option for borrowers with a limited deposit and looking to save on upfront costs. Borrowers can also benefit from making overpayments and payment holidays subject to meeting conditions. The cut solidifies the deal as a Moneyfacts ‘Best Buy’ for first-time buyers and earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.75% fixed rate to 30.4.29
• Product fee: None
• Maximum loan-to-value: 95%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments and payment holidays after six months, maximum six months holiday per year subject to sufficient overpayments, approval and 14 days’ notice
• Lending area: Great Britain.

Buy-to-let

Cambridge Building Society – Two-year Discounted variable rate mortgage, 80% loan-to-value

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“Cambridge Building Society has reduced its standard ‘revert to’ rate resulting in discounted variable rates also being reviewed and repriced. The two-year option at 80% loan-to-value has seen a 0.05% cut despite the linked rate reducing by 0.25% and is now offered at 4.79%. Landlords looking to keep costs low will be pleased to note there is a smaller than average £499 fee alongside a generous incentive package for those remortgaging which includes a free valuation and help towards costs. With these changes, it cements its position as a Moneyfacts ‘Best Buy’ and the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.79% discounted– (discount 3.65%) for two years
• Product fee: £499
• Maximum loan-to-value: 80%
• Available to: Second-time buyers and remortgage customers
• Incentives: Remortgage customers receive a free valuation, and free legal fees.
• Flexible features: Allows overpayments
• Lending area: England and Wales

Banking

The Co-operative Bank – Everyday Extra Current Account

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:

“Consumers looking to switch bank account will be pleased to see that The Co-operative Bank has relaunched its switching incentive this week on the Current Account and Everyday Extra. Customers who switch using the CASS (Current Account Switch Service) will now receive £100, but they could earn an extra £75 across three months subject to meeting certain criteria. Current account holders can get exclusive access to its 7% AER Regular Saver or for £18 a month, the Everyday Extra Account comes with worldwide travel insurance as well as mobile and breakdown cover which is sure to add to its appeal. 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: £18
• Arranged overdraft: 35.90% EAR
• Opening account: Online or in branch
• Managing account: Online, in branch, by phone, via mobile app, by post, at the Post Office and text alerts.
• Other information: Minimum applicant age 18. £100 cashback for accounts switched using the Current Account Switch Service. Must deposit £1K or more, have two or more active direct debits, make at least 10 debit card payments, register for online banking or mobile app and register debit card in a digital wallet within 30 days. Receive £25 per month for up to three months after receiving the £100 switch offer. Must deposit £1K or more, make at least 10 debit card transactions and have two or more direct debits each month. T&Cs apply.