Savings

OakNorth Bank – Fixed Term Savings Account

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

“OakNorth Bank has increased the rate on its 24 Month Fixed Term Savings Account and now takes a competitive position in the top tables. The account pays 4.33% and can be opened with as little as £1 but further additions are permitted for 14 days from account opening, which may add to its appeal. This deal may be best suited to savers who are confident that they will not need access to their cash over the next two years, as like many fixed bonds, withdrawals are not permitted. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.33% gross/ 4.33% AER paid on maturity (compounded annually)
• Notice / term: 24 months
• Minimum opening amount: £1
• Maximum investment amount: £500,000
• Access: Not permitted
• Further additions: Permitted for 14 days from account opening
• Opening account: Online and via its mobile app
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. Joint account option available.

Buy-to-Let

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

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

“This week, Lloyds Bank has increased its two- and five-year fixed rates by 0.10% and 0.09% respectively. The two-year offering at 75% loan-to-value for second-time buyers has seen a slightly smaller increase and is now priced at 4.64% until 31 May 2028. Despite the jump, the deal remains competitive when compared against its peers and maintains its position as a ‘Best Buy’. Adding to its appeal, landlords may also note that they can benefit from having no payable fee, however, there are no additional incentives, which some may wish to consider. On assessment, this deal receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.64% fixed rate to 31.5.28
• Product fee: None
• Maximum loan-to-value: 75%
• Available to: Second-time buyers
• Incentives: None
• Flexible features: Allows overpayments.
• Lending area: Great Britain and Northern Ireland

Cards

MBNA Limited – Long 0% Balance Transfer Credit Card Visa

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

“The latest update from MBNA Limited sees a reduction to the introductory balance transfer fee to 2.99% on its Long Balance Transfer Credit Card. The deal takes a prominent position in the top charts when compared against its peers and the reduction in fee makes it even cheaper for borrowers to transfer existing debt within the introductory period. Adding to the card’s appeal, it offers 0% on balance transfers for 36 months, which is among the highest on the market. As always, it is sensible for borrowers to ensure that this deal is suitable for their needs. 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 36 months
• Standard rate for purchases: 24.9% APR
• Balance transfer fee: 2.99% 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. Earn up to 15% cashback on purchases through Smart Rewards at popular retailers.