Savings

Chip – Chip Smart Cash ISA

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

“This week, Chip has increased and added a boosted rate on its Chip Smart Cash ISA. The rise sees the account take the number one spot when compared to its peers and now pays an attractive 4.32% AER, however, this includes a 0.57% AER bonus for the first 12 months, so it’s important savers review once it expires. Adding to its appeal, Chip’s Smart Cash ISA has an underlying gross rate guaranteed to be equal to Bank Base Rate. While savers can invest as little as £1 and add to the account at any time, if they wish to close the account or transfer out before the first anniversary, they will not receive their interest payment, which should be considered. Investors have the choice between holding a fee-free subscription or paying a £4.99 fee per 28-days for a ChipX subscription which gives them wider or exclusive access to some features. The deal secures an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.32% gross / 4.32% AER payable an anniversary (including a 0.57% AER bonus for 12 months)
• Notice / term: None
• Minimum opening amount: £1
• Maximum investment amount: ISA allowance
• Access: Permitted, no interest paid if account is closed or transferred out before the first anniversary
• Further additions: Permitted
• Transfers in: Not permitted
• Transfers out: Permitted, no interest paid if account is closed or transferred out before the first anniversary
• Opening account: Via its mobile app
• Managing account: Via its mobile app
• Other information: Minimum applicant age 18. Operated by ClearBank. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days for a ChipX subscription. Flexible ISA rules apply.

Mortgages

HSBC – Five-year fixed rate mortgage, 60% loan-to-value

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

“The latest update from HSBC sees it reduce selected fixed rates by up to 0.13%. The five-year deal at 60% loan-to-value has seen a marginally smaller 0.12% cut, which solidifies its position as a ‘Best Buy’. Homemovers can now get the deal at a competitive 4.49% until 31 July 2031 and, further adding to its appeal, they can receive a free valuation incentive which offsets its £999 product fee. On assessment this deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.49% fixed rate to 31.7.31
• Product fee: £999
• Maximum loan-to-value: 60%
• Available to: Second-time buyers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Buy-to-Let

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

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

“Alongside reducing variable tracker rates, HSBC has also reduced selected fixed rates for landlords by up to 0.09%. The two-year option at 60% LTV for second-time buyers has seen a smaller cut and is now priced at 4.94%. Landlords looking to minimise upfront costs may be pleased to note the no payable fee and free valuation incentive. Overpayments are also permitted by up to a maximum 20%, which may be a bonus for some. The reduction strengthens its position as a Moneyfacts Best Buy and earns an Outstanding Moneyfacts Product Rating.”

Key product details:

• Rate: 4.94% fixed rate to 31.7.28
• Product fee: None
• Maximum loan-to-value: 60%
• Available to: Second-time buyers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.

Banking

NatWest – Reward Current Account

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

“NatWest has added a new switching offer to its Reward and Select Accounts, offering customers an attractive £200 when they switch using the Current Account Switch Service (CASS). To be eligible, consumers must ensure they deposit at least £1,250 and log in to the mobile banking app within 60 days of switching. While the Reward Account charges a £2 monthly fee, this is offset by the opportunity to earn up to £5 in rewards per month. To avoid overpaying on their current account, consumers should ensure they make use of all the benefits. Overall, the account earns an Outstanding product rating.”

Key product details:

• Credit interest / reward: £5 per month
• Cashback on debit card purchases: None
• Account fee: £2 per month
• 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. £200 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. 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 back in Rewards per month by making a minimum of two direct debit payments of at least £2 each. Earn an additional £1 back in Rewards by logging into mobile banking app every month. Once five 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.