Residential Mortgage

Coventry Building Society – Five-year fixed rate remortgage at 85% LTV

Commenting on the deal, Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

"Coventry Building Society has reduced its fixed mortgage rates by up to 0.20% in its latest residential mortgage update, with its five-year fixed rate for remortgage customers at 85% loan-to-value cut by 0.05% to 4.94%. The reduction moves it into the Moneyfacts Best Buys for remortgage customers, boosting its appeal for borrowers looking to secure their next mortgage deal.

"The £999 fee remains in place, alongside the existing incentive package, so borrowers should consider the overall cost of the deal rather than focusing solely on the headline rate. Those approaching the end of their current mortgage may wish to review their options early given the volatility of recent months. Securing a deal sooner rather than later will protect them against the risk of future rate increases, particularly if this deal's improved position in the market makes it a contender for their next fixed-rate period."

Key product details:

• Rate: 4.94% fixed rate until 31 December 2031
• Product fee: £999 
• Maximum loan-to-value: 85% 
• Available to: Remortgage borrowers
• Flexible features: Borrowers can overpay up to 10% of the capital p.a. without an early repayment charge
• Lending area: Great Britain. 

Savings

Market Harborough Building Society – Two-year Fixed Term Bond

Commenting on the deal, Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

"Market Harborough Building Society has increased the rate on its now market-leading two-year Fixed Term Bond to 4.90%, giving savers an attractive option for money they are prepared to lock away.

"Additions can be made for 10 days from account opening, giving savers a short window in which to add further funds. As with any fixed-term account, savers should consider whether they are comfortable committing their money for the full term before applying."

Key product details:

• Rate: 4.90% gross/ 4.90% AER 
• Notice/term: Two-year fixed term bond to 02.10.28
• Minimum investment: £5,000
• Maximum investment: £500,000
• Further additions: For 10 days from account opening 
• Opening account: Branch, online
• Other information: Branch, online.

Spring Accelerate Saver, 5.00% AER

Commenting on the deal, Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

“Spring has launched a new Accelerate Saver that pays a market-leading 5.00% AER when compared to other easy access accounts that offer monthly interest.

“Savers looking for a straightforward account with easy access to their funds may find this account particularly appealing, however, it should be noted that the maximum investment is £5,000, so it may not be suited to those with larger savings pots.”

Key product details:

• Rate: 4.89% gross/ 5.00% AER
• Notice/term: None
• Minimum investment: £10
• Maximum investment: £5,000
• Access: Via linked current account 
• Opening account: Mobile app
• Managing account: Mobile app
• Other information: Customers have 28 days from account opening to fund it with a minimum of £10. Interest is paid monthly.

Personal Loan

HSBC – Premier Personal Loan

Commenting on the deal, Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

"HSBC has increased the headline rate on its Premier Personal Loan to 5.9% APR for borrowing between £10,000 and £30,000. While the rate increase makes this borrowing more expensive than before, the loan is still a competitive option in the market and could prove attractive to eligible borrowers looking for a larger personal loan.

"However, the key restriction is that this product is available to HSBC Premier customers only. Prospective borrowers should therefore check whether they meet the eligibility requirements and compare the overall cost of borrowing before committing, particularly following the rate increase."

Key product details:

• Representative APR: 5.9% 
• Loan period: Rate shown is based on a term of 60 months for a £10,000 borrowing
• Application available: Online, via telephone, in branch or via mobile app
• Other information: Minimum age 18. Available to HSBC Premier customers only. You may be offered an alternative APR dependent on credit rating.

Credit Card

M&S Bank – Credit Card Purchase Plus Offer

Commenting on the deal, Adam French, Head of Consumer Finance at Moneyfactscompare.co.uk, said:

"M&S Bank has increased the introductory 0% purchase term on its Credit Card Purchase Plus Offer card to 26 months, while reducing the introductory 0% balance transfer term to six months. The longer purchase period places the card among the best on the market for consumers looking for a longer introductory 0% purchase term and may appeal to those who need more time to spread the cost of spending.

"However, borrowers should be aware that the balance transfer introductory period has been shortened, so this card is less suited to those primarily looking to transfer an existing balance. The card is also available to Sparks members only, and anyone interested should carefully consider which of the introductory offers is most relevant to their needs."

Key product details:

• Representative APR: 24.9%, assumed credit limit of £1,200
• Introductory 0% purchase term: Up to 26 months
• Introductory 0% balance transfer term: Six months for transfers made within 90 days of account opening, 3.49% (£5 minimum) fee applies
• Card fee: None
• Opening method: Online, telephone and via post
• Card management: Online via telephone, post, in store and mobile app
• Other information: Earn 1 point per £5 spent at M&S and elsewhere, which will be converted into M&S vouchers for you to spend. Available to Sparks members only.