Savings
Vanquis Bank – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Vanquis Bank has increased the rate on its range of Fixed Rate Cash ISAs this week. The account which fares best is the one-year option, which has seen a boost to 4.66% AER and takes the market-leading position. Savers must deposit at least £1,000, however, those investing their full £20,000 allowance can expect to receive over £900 in interest over the one-year period. There is the option to have interest paid on anniversary or monthly, however, as is the case with many fixed cash ISAs earlier access is subject to an interest loss penalty which should be carefully considered. Adding to its appeal, savers can make further additions for 30 days from the account opening but it must be done via a nominated account. On assessment, this account takes the top position as a ‘Best Buy’ and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.66% gross / 4.66% AER payable on anniversary / monthly interest option of 4.56% gross / 4.66% AER also available
- Notice / term: One-year
- Minimum opening amount: £1,000
- Maximum investment amount: £250,000
- Access: Permitted, via nominated account and subject to 90 days’ loss of interest
- Further additions: Permitted for 30 days from account opening via nominated account
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, via nominated account and subject to 90 days’ loss of interest
- Opening account: Online
- Managing account: Online, by phone and by post
- Other information: Minimum applicant age 18. Flexible ISA rules apply.
Mortgages
Barclays Mortgage – Two-year variable tracker rate mortgage, 60% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“This week, Barclays Mortgage has made amendments across a handful of its variable and fixed rates. One deal to see a refresh is the two-year variable tracker option for all borrower types; despite seeing a small 0.05% rise it continues to take a prominent position in the Best Buy tables and is now priced at 4.06%. Borrowers may find this appealing as it pays a lower initial rate compared to fixed rate deals. The deal is available at 60% loan-to-value and borrowers may note the reasonable £999 product fee but this is offset by its free valuation incentive for all borrowers, while remortgage customers can also benefit from free legal fees or £250 cashback. Overall, the deal earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.06% variable tracker rate for two years
- Product fee: £999
- Maximum loan-to-value: 60%
- Available to: All borrowers
- Incentives: Free valuation for all borrowers and free legal fees or £250 cashback for remortgage customers
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-Let
Leeds Building Society – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Leeds Building Society has refreshed its range for landlords this week. One deal to see a generous 0.22% cut is the five-year fixed deal at 60% loan-to-value. It’s now priced at a competitive 4.67% until 31 August 2031 and is available for second-time buyers and remortgage customers. While landlords may note the £1,499 fee, this is partly offset by its incentive package which includes a free valuation for all borrowers, while remortgage customers will also receive help towards costs. For those seeking some flexibility, overpayments are permitted. As a result, the deal secures a competitive position in the Best Buy tables and earns an ‘Outstanding’ product rating.”
Key product details:
- Rate: 4.67% fixed rate to 31.8.31
- Product fee: £1,499
- Maximum loan-to-value: 60%
- Available to: Second-time buyers and remortgage customers
- Incentives: Free valuation for all borrowers, and help towards costs for remortgage customers
- Flexible features: Allows overpayments
- Lending area: England, Wales, mainland Scotland and Northern Ireland.
Banking
first direct – 1st Account
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“The latest update from first direct sees it increase its switching incentive to £200 on its 1st Account for customers who switch using the Current Account Switch Service (CASS). As is the case with many switching offers, customers will have to fulfil certain criteria to ensure they are eligible. The account does not charge any monthly fees and may appeal to consumers looking for some flexibility with their arranged overdraft as it offers a £250 interest-free buffer, however, it’s crucial they note that the rate rises to 39.90% EAR if this buffer is exceeded. Customers looking for credit interest may be left disappointed at the lack of rate, but the current account does come with a linked regular saver that is fixed for 12 months which may add to its appeal. Overall, the account earns an Outstanding Moneyfacts product rating.”
Key product details:
- Credit interest / reward: None
- Cashback on debit card purchases: None
- Account fee: None
- Arranged overdraft: 39.90% EAR, plus £250 interest-free buffer.
- Opening account: Online, by phone, or via its mobile app
- Managing account: Online, by phone, in branch, mobile app, by post, at the Post Office and text alerts
- Other information: Minimum applicant age 18. £200 cashback for accounts switched using the Current Account Switch Service, including at least two direct debits or standing orders. Within 45 days of opening, £1,000 must be deposited, register and log on to online banking and make five or more debit card payments.
Cards
HSBC – Purchase Plus Credit Card Visa
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“This week HSBC has increased the introductory 0% purchase term on its Purchase Plus credit card to 24 months, which now sees it offer one of the longest interest-free purchase terms on the market. This card may appeal to borrowers looking to make larger purchases and pay it off over an extended period, however, the standard fee rises to 24.9% thereafter which should be noted. Further adding to its appeal, the card offers 0% on balance transfers for 17 months, a helpful perk for someone who is also looking to move existing debt. Borrowers should carefully consider their circumstances before applying to ensure they meet the basic requirements, and the card is the best option for their needs. On assessment, this deal secures a competitive position as a Moneyfacts Best Buy and earns an ‘Outstanding’ product rating.”
Key product details:
- Introductory rate for purchases: 0% for 24 months
- Introductory rate for balance transfers: 0% for 17 months
- Standard rate for purchases: 24.9% APR
- Balance transfer fee: 3.49% (£5 minimum fee) as an introductory charge during the first two months from account opening. Standard fee quoted on application.
- Card fee: None
- Opening method: Online, by phone and in branch
- Card management: Online, by phone, by post, in branch and via its mobile app
- Other information: Minimum age 18. Minimum income £6,800pa.
Loans
Santander – Unsecured Personal Loan
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Santander has reduced the rate on the £7,500 to £25,000 tier of its Personal Loan to 6.1% APR. The cut will make borrowing between these amounts even cheaper and takes a competitive position in the market when compared against its peers. Further adding to its appeal, this loan permits overpayments to be made without receiving an early repayment charge. Borrowers should consider their options carefully when applying for a loan to ensure they can afford repayments and so get the best deal for their needs. Overall, the product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Representative APR: 6.1%
- Loan period: Rate shown is based on a term of 60 months for a £7,500 borrowing
- Application available: Online, by telephone and in branch
- Other information: Minimum age 21. Minimum Applicant Income £10,500+ per year when borrowing £1,000-£19,999 or minimum £20,000+ income when borrowing £20,000-£25,000. You may be offered an alternative APR dependent on credit rating.
Savings
Vanquis Bank – 1 Year Fixed Rate Cash ISA
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Vanquis Bank has increased the rate on its range of Fixed Rate Cash ISAs this week. The account which fares best is the one-year option, which has seen a boost to 4.66% AER and takes the market-leading position. Savers must deposit at least £1,000, however, those investing their full £20,000 allowance can expect to receive over £900 in interest over the one-year period. There is the option to have interest paid on anniversary or monthly, however, as is the case with many fixed cash ISAs earlier access is subject to an interest loss penalty which should be carefully considered. Adding to its appeal, savers can make further additions for 30 days from the account opening but it must be done via a nominated account. On assessment, this account takes the top position as a ‘Best Buy’ and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.66% gross / 4.66% AER payable on anniversary / monthly interest option of 4.56% gross / 4.66% AER also available
- Notice / term: One-year
- Minimum opening amount: £1,000
- Maximum investment amount: £250,000
- Access: Permitted, via nominated account and subject to 90 days’ loss of interest
- Further additions: Permitted for 30 days from account opening via nominated account
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, via nominated account and subject to 90 days’ loss of interest
- Opening account: Online
- Managing account: Online, by phone and by post
- Other information: Minimum applicant age 18. Flexible ISA rules apply.
Mortgages
Barclays Mortgage – Two-year variable tracker rate mortgage, 60% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“This week, Barclays Mortgage has made amendments across a handful of its variable and fixed rates. One deal to see a refresh is the two-year variable tracker option for all borrower types; despite seeing a small 0.05% rise it continues to take a prominent position in the Best Buy tables and is now priced at 4.06%. Borrowers may find this appealing as it pays a lower initial rate compared to fixed rate deals. The deal is available at 60% loan-to-value and borrowers may note the reasonable £999 product fee but this is offset by its free valuation incentive for all borrowers, while remortgage customers can also benefit from free legal fees or £250 cashback. Overall, the deal earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 4.06% variable tracker rate for two years
- Product fee: £999
- Maximum loan-to-value: 60%
- Available to: All borrowers
- Incentives: Free valuation for all borrowers and free legal fees or £250 cashback for remortgage customers
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-Let
Leeds Building Society – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Leeds Building Society has refreshed its range for landlords this week. One deal to see a generous 0.22% cut is the five-year fixed deal at 60% loan-to-value. It’s now priced at a competitive 4.67% until 31 August 2031 and is available for second-time buyers and remortgage customers. While landlords may note the £1,499 fee, this is partly offset by its incentive package which includes a free valuation for all borrowers, while remortgage customers will also receive help towards costs. For those seeking some flexibility, overpayments are permitted. As a result, the deal secures a competitive position in the Best Buy tables and earns an ‘Outstanding’ product rating.”
Key product details:
- Rate: 4.67% fixed rate to 31.8.31
- Product fee: £1,499
- Maximum loan-to-value: 60%
- Available to: Second-time buyers and remortgage customers
- Incentives: Free valuation for all borrowers, and help towards costs for remortgage customers
- Flexible features: Allows overpayments
- Lending area: England, Wales, mainland Scotland and Northern Ireland.
Banking
first direct – 1st Account
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“The latest update from first direct sees it increase its switching incentive to £200 on its 1st Account for customers who switch using the Current Account Switch Service (CASS). As is the case with many switching offers, customers will have to fulfil certain criteria to ensure they are eligible. The account does not charge any monthly fees and may appeal to consumers looking for some flexibility with their arranged overdraft as it offers a £250 interest-free buffer, however, it’s crucial they note that the rate rises to 39.90% EAR if this buffer is exceeded. Customers looking for credit interest may be left disappointed at the lack of rate, but the current account does come with a linked regular saver that is fixed for 12 months which may add to its appeal. Overall, the account earns an Outstanding Moneyfacts product rating.”
Key product details:
- Credit interest / reward: None
- Cashback on debit card purchases: None
- Account fee: None
- Arranged overdraft: 39.90% EAR, plus £250 interest-free buffer.
- Opening account: Online, by phone, or via its mobile app
- Managing account: Online, by phone, in branch, mobile app, by post, at the Post Office and text alerts
- Other information: Minimum applicant age 18. £200 cashback for accounts switched using the Current Account Switch Service, including at least two direct debits or standing orders. Within 45 days of opening, £1,000 must be deposited, register and log on to online banking and make five or more debit card payments.
Cards
HSBC – Purchase Plus Credit Card Visa
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“This week HSBC has increased the introductory 0% purchase term on its Purchase Plus credit card to 24 months, which now sees it offer one of the longest interest-free purchase terms on the market. This card may appeal to borrowers looking to make larger purchases and pay it off over an extended period, however, the standard fee rises to 24.9% thereafter which should be noted. Further adding to its appeal, the card offers 0% on balance transfers for 17 months, a helpful perk for someone who is also looking to move existing debt. Borrowers should carefully consider their circumstances before applying to ensure they meet the basic requirements, and the card is the best option for their needs. On assessment, this deal secures a competitive position as a Moneyfacts Best Buy and earns an ‘Outstanding’ product rating.”
Key product details:
- Introductory rate for purchases: 0% for 24 months
- Introductory rate for balance transfers: 0% for 17 months
- Standard rate for purchases: 24.9% APR
- Balance transfer fee: 3.49% (£5 minimum fee) as an introductory charge during the first two months from account opening. Standard fee quoted on application.
- Card fee: None
- Opening method: Online, by phone and in branch
- Card management: Online, by phone, by post, in branch and via its mobile app
- Other information: Minimum age 18. Minimum income £6,800pa.
Loans
Santander – Unsecured Personal Loan
Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said:
“Santander has reduced the rate on the £7,500 to £25,000 tier of its Personal Loan to 6.1% APR. The cut will make borrowing between these amounts even cheaper and takes a competitive position in the market when compared against its peers. Further adding to its appeal, this loan permits overpayments to be made without receiving an early repayment charge. Borrowers should consider their options carefully when applying for a loan to ensure they can afford repayments and so get the best deal for their needs. Overall, the product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Representative APR: 6.1%
- Loan period: Rate shown is based on a term of 60 months for a £7,500 borrowing
- Application available: Online, by telephone and in branch
- Other information: Minimum age 21. Minimum Applicant Income £10,500+ per year when borrowing £1,000-£19,999 or minimum £20,000+ income when borrowing £20,000-£25,000. You may be offered an alternative APR dependent on credit rating.
