Savings
LemFi – LemFi Instant Access Savings Account
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“This week LemFi has launched into the UK savings market with its LemFi Instant Access Savings Account. The deal pays a market-leading 5.00% AER on as little as £1. However, it’s important savers note the account will revert to 3.04% AER once the bonus expires after six months, this does not outpace inflation so savers should review the deal to avoid missing out on real returns. Adding to the account’s appeal, savers can make unlimited withdrawals penalty free via a nominated account, and they can add funds at any time. On assessment, this account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.89% gross / 5.00% AER payable monthly (includes 1.89% gross / 1.96% AER bonus for six months)
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Permitted, via nominated account
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Operated by ClearBank.
Mortgages
first direct – Two-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“first direct has reduced selected fixed rates for house purchase and remortgage borrowers by up to 0.30% this week. One deal to see a slightly smaller 0.21% cut is the two-year deal at 60% loan-to-value, the reduction is enough to see it enter the ‘Best Buy’ charts and is now priced at a competitive 4.50%. Borrowers looking to save on upfront costs may be pleased to note the smaller than average £490 fee, but this is also offset by its free valuation incentive. On assessment, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.50% fixed rate for two years
- Product fee: £490
- Maximum loan-to-value: 60%
- Available to: House purchase customers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-Let
TSB – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“The latest update from TSB sees it reduce selected fixed rate mortgages for landlords. One deal to see a 0.15% cut is the five-year deal at 75% loan-to-value, it is now priced at 4.74% until 31 July 2031. Despite its large £1,995 fee, the deal sits at the top of its sector, and its free valuation incentive may offset some of the cost which may add to its appeal. Overall, the deal earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.74% fixed rate to 31.7.31
- Product fee: £1,995
- Maximum loan-to-value: 60%
- Available to: Second-time buyers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain.
Savings
LemFi – LemFi Instant Access Savings Account
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“This week LemFi has launched into the UK savings market with its LemFi Instant Access Savings Account. The deal pays a market-leading 5.00% AER on as little as £1. However, it’s important savers note the account will revert to 3.04% AER once the bonus expires after six months, this does not outpace inflation so savers should review the deal to avoid missing out on real returns. Adding to the account’s appeal, savers can make unlimited withdrawals penalty free via a nominated account, and they can add funds at any time. On assessment, this account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.89% gross / 5.00% AER payable monthly (includes 1.89% gross / 1.96% AER bonus for six months)
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Permitted, via nominated account
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Operated by ClearBank.
Mortgages
first direct – Two-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“first direct has reduced selected fixed rates for house purchase and remortgage borrowers by up to 0.30% this week. One deal to see a slightly smaller 0.21% cut is the two-year deal at 60% loan-to-value, the reduction is enough to see it enter the ‘Best Buy’ charts and is now priced at a competitive 4.50%. Borrowers looking to save on upfront costs may be pleased to note the smaller than average £490 fee, but this is also offset by its free valuation incentive. On assessment, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.50% fixed rate for two years
- Product fee: £490
- Maximum loan-to-value: 60%
- Available to: House purchase customers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-Let
TSB – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“The latest update from TSB sees it reduce selected fixed rate mortgages for landlords. One deal to see a 0.15% cut is the five-year deal at 75% loan-to-value, it is now priced at 4.74% until 31 July 2031. Despite its large £1,995 fee, the deal sits at the top of its sector, and its free valuation incentive may offset some of the cost which may add to its appeal. Overall, the deal earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.74% fixed rate to 31.7.31
- Product fee: £1,995
- Maximum loan-to-value: 60%
- Available to: Second-time buyers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain.
