Savings
Chip – Instant Access powered by ClearBank
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Another eye-catching update from Chip this week sees the rate on its Instant Access powered by ClearBank product increase by 0.10%. Now paying 3.11%, this account improves its position within the top 10 when compared to other easy access options on the market at the moment, and also takes a place within the top 10 compared to currently available accounts which pay monthly interest. Savers who are looking for an account which enables both unlimited withdrawals and further additions may well be tempted by this product, though should note that they do need to hold a Chip subscription (free and paid options available). Overall, this earns an Excellent Moneyfacts product rating and positions in a couple of our top tables.”
Key product details:
- Rate: 3.11% gross / 3.15% AER payable monthly
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Permitted
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Open banking connection to current account is required. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days subscription.
Virgin Money – 2 Year Fixed Rate Cash E-ISA Issue 554
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Savers who are still looking to use up their tax-free savings allowance might be tempted by the 2 Year Fixed Rate Cash E-ISA Issue 554 from Virgin Money. Launched this week, this pays 4.00% yearly, or alternatively there is also a monthly interest option, which might be another positive for investors who want to boost their regular income. This ISA takes a place in the top 10 compared to others currently on offer with similar terms and there is also an element of flexibility for savers as earlier access is permitted, however, this is subject to a loss of interest penalty. Investors are also able to make further additions and transfers in for 30 days from account opening, which could improve the appeal of this account further. On assessment, this earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.00% gross / 4.00% AER payable yearly / monthly interest rate option of 3.93% gross / 4.00% AER also available
- Notice / term: To 24.03.2025
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to a 90-day loss of interest penalty
- Further additions: Permitted for 30 days from account opening
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, subject to a 90-day loss of interest penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16.
Allica Bank – 12-Month Fixed Term Savings Account (Issue 33)
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Receiving a 0.50% rate increase this week is the 12-Month Fixed Term Savings Account from Allica Bank. This could be an attractive choice for savers who are happy to lock their cash away for a short term in order to receive a guaranteed return as, following the rate rise, this now pays 4.25% on maturity and so takes a prominent position in the top 10 when compared to other bonds with similar terms currently on offer. Savers must be comfortable with the term as early access to funds is not permitted, however, there is the option to make further additions for 14 days from opening the account, which may be a plus for some. Overall, this account receives an Excellent Moneyfacts product rating and a prominent place in our top tables.”
Key product details:
- Rate: 4.25% gross / 4.25% AER payable on maturity
- Notice / term: 12 months
- Minimum opening amount: £10,000
- Maximum investment amount: £250,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening, via nominated account
- Opening account: Online
- Managing account: Online and via its mobile app
- Other information: Minimum applicant age 18.
Vanquis Bank – 2 Year Vanquis Bank Savings
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Vanquis Bank has increased the rates on a selection of its savings products this week. One option which may be an attractive choice for savers who are happy to lock their cash away for a period in order to receive a guaranteed rate of return is the 2 Year account, which now pays 4.35%. There is the option to take interest on a monthly basis, which might suit those looking to boost their income. As is often the case with fixed accounts, savers must be comfortable with their initial deposit and the duration of the term, as early access is not permitted, nor are further additions. Overall, this account receives an Excellent Moneyfacts product rating and a prominent place in our top tables.”
Key product details:
- Rate: 4.35% gross / 4.35% AER payable on anniversary / monthly interest option of 4.27% gross / 4.35% AER also available
- Notice / term: Two years
- Minimum opening amount: £1,000
- Maximum investment amount: £250,000
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online
- Managing account: Online, by phone and by post
- Other information: Minimum applicant age 18. Joint account option available.
Buy-to-let
HSBC – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“HSBC has reduced rates across a selection of its fixed buy-to-let offerings, including applying a 0.10% reduction on its five-year deal for landlords looking to purchase at 60% loan-to-value. This is now priced at 4.99% fixed until 30 June 2028. Landlords who are trying to keep any outlay associated with taking on a new mortgage to a minimum may be further tempted by the fact there is not only no fee to pay, but there is also the incentive of a free valuation attached to the product. Assessed as a package, this option secures a place in our top tables and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.99% fixed rate to 30.6.28
- 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.
Virgin Money – Two-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Landlords looking for the short-term certainty of a two-year fixed rate may be happy to see that one of the products to receive the largest rate cut from Virgin Money this week is a two-year deal available at 60% loan-to-value. Falling by 0.89% to sit at 5.20% until 1 June 2025, this option may not be the lowest initial rate in its sector, but it carries only a £995 fee and offers a generous incentive package, so when assessed overall this deal could be a tempting option. It secures a place in our top tables and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.20% fixed rate to 1.6.25
- Product fee: £995
- Maximum loan-to-value: 60%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: £500 cashback for second-time buyers, or a free valuation and either £300 cashback or free legal fees for remortgage borrowers
- Flexible features: Allows overpayments. Payment holidays considered by arrangement.
- Lending area: Great Britain and Northern Ireland.
Savings
Chip – Instant Access powered by ClearBank
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Another eye-catching update from Chip this week sees the rate on its Instant Access powered by ClearBank product increase by 0.10%. Now paying 3.11%, this account improves its position within the top 10 when compared to other easy access options on the market at the moment, and also takes a place within the top 10 compared to currently available accounts which pay monthly interest. Savers who are looking for an account which enables both unlimited withdrawals and further additions may well be tempted by this product, though should note that they do need to hold a Chip subscription (free and paid options available). Overall, this earns an Excellent Moneyfacts product rating and positions in a couple of our top tables.”
Key product details:
- Rate: 3.11% gross / 3.15% AER payable monthly
- Notice / term: None
- Minimum opening amount: £1
- Maximum investment amount: £250,000
- Access: Permitted
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Open banking connection to current account is required. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days subscription.
Virgin Money – 2 Year Fixed Rate Cash E-ISA Issue 554
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Savers who are still looking to use up their tax-free savings allowance might be tempted by the 2 Year Fixed Rate Cash E-ISA Issue 554 from Virgin Money. Launched this week, this pays 4.00% yearly, or alternatively there is also a monthly interest option, which might be another positive for investors who want to boost their regular income. This ISA takes a place in the top 10 compared to others currently on offer with similar terms and there is also an element of flexibility for savers as earlier access is permitted, however, this is subject to a loss of interest penalty. Investors are also able to make further additions and transfers in for 30 days from account opening, which could improve the appeal of this account further. On assessment, this earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.00% gross / 4.00% AER payable yearly / monthly interest rate option of 3.93% gross / 4.00% AER also available
- Notice / term: To 24.03.2025
- Minimum opening amount: £1
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to a 90-day loss of interest penalty
- Further additions: Permitted for 30 days from account opening
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, subject to a 90-day loss of interest penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 16.
Allica Bank – 12-Month Fixed Term Savings Account (Issue 33)
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Receiving a 0.50% rate increase this week is the 12-Month Fixed Term Savings Account from Allica Bank. This could be an attractive choice for savers who are happy to lock their cash away for a short term in order to receive a guaranteed return as, following the rate rise, this now pays 4.25% on maturity and so takes a prominent position in the top 10 when compared to other bonds with similar terms currently on offer. Savers must be comfortable with the term as early access to funds is not permitted, however, there is the option to make further additions for 14 days from opening the account, which may be a plus for some. Overall, this account receives an Excellent Moneyfacts product rating and a prominent place in our top tables.”
Key product details:
- Rate: 4.25% gross / 4.25% AER payable on maturity
- Notice / term: 12 months
- Minimum opening amount: £10,000
- Maximum investment amount: £250,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening, via nominated account
- Opening account: Online
- Managing account: Online and via its mobile app
- Other information: Minimum applicant age 18.
Vanquis Bank – 2 Year Vanquis Bank Savings
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Vanquis Bank has increased the rates on a selection of its savings products this week. One option which may be an attractive choice for savers who are happy to lock their cash away for a period in order to receive a guaranteed rate of return is the 2 Year account, which now pays 4.35%. There is the option to take interest on a monthly basis, which might suit those looking to boost their income. As is often the case with fixed accounts, savers must be comfortable with their initial deposit and the duration of the term, as early access is not permitted, nor are further additions. Overall, this account receives an Excellent Moneyfacts product rating and a prominent place in our top tables.”
Key product details:
- Rate: 4.35% gross / 4.35% AER payable on anniversary / monthly interest option of 4.27% gross / 4.35% AER also available
- Notice / term: Two years
- Minimum opening amount: £1,000
- Maximum investment amount: £250,000
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online
- Managing account: Online, by phone and by post
- Other information: Minimum applicant age 18. Joint account option available.
Buy-to-let
HSBC – Five-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“HSBC has reduced rates across a selection of its fixed buy-to-let offerings, including applying a 0.10% reduction on its five-year deal for landlords looking to purchase at 60% loan-to-value. This is now priced at 4.99% fixed until 30 June 2028. Landlords who are trying to keep any outlay associated with taking on a new mortgage to a minimum may be further tempted by the fact there is not only no fee to pay, but there is also the incentive of a free valuation attached to the product. Assessed as a package, this option secures a place in our top tables and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.99% fixed rate to 30.6.28
- 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.
Virgin Money – Two-year fixed rate mortgage, 60% loan-to-value
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Landlords looking for the short-term certainty of a two-year fixed rate may be happy to see that one of the products to receive the largest rate cut from Virgin Money this week is a two-year deal available at 60% loan-to-value. Falling by 0.89% to sit at 5.20% until 1 June 2025, this option may not be the lowest initial rate in its sector, but it carries only a £995 fee and offers a generous incentive package, so when assessed overall this deal could be a tempting option. It secures a place in our top tables and receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 5.20% fixed rate to 1.6.25
- Product fee: £995
- Maximum loan-to-value: 60%
- Available to: Second-time buyers and remortgage borrowers
- Incentives: £500 cashback for second-time buyers, or a free valuation and either £300 cashback or free legal fees for remortgage borrowers
- Flexible features: Allows overpayments. Payment holidays considered by arrangement.
- Lending area: Great Britain and Northern Ireland.
