Savings
Union Bank of India (UK) Ltd – 1 Year Fixed Rate Deposit
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Union Bank of India (UK) Ltd has reduced the rate on its 1 Year Fixed Rate Deposit. The account now pays 4.33%, however, it maintains its market-leading position when compared to its peers. Savers will need to deposit at least £1,000, but it is worth noting that withdrawals and further additions are not permitted so they must be comfortable with their investments. For savers who can pay a bit extra, there is a ‘Premier’ Bond which requires a minimum investment of £5,000 and pays 4.33%. Overall, the account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.33% gross / 4.33% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £1,000
- Maximum investment amount: £1 million
- Access: Not permitted
- Further additions: Not permitted
- Opening account: By post and in branch
- Managing account: By post and in branch
- Other information: Simple interest. Minimum applicant age 18. Joint account option available. 0.10% loyalty bonus offered to existing Fixed Rate Deposit holders if they choose to reinvest into another Fixed Rate Deposit at maturity.
Mortgages
first direct – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“first direct has reduced selected fixed rates for house purchase and remortgage borrowers by up to 0.16% this week. One deal to see a slightly smaller 0.09% cut is the two-year deal at 75% loan-to-value, and it is now priced at a competitive 3.70%. Adding to its appeal, the offer carries a smaller than average £490 fee which is offset by its free valuation incentive, which may make it an ideal choice for those looking to save on upfront costs. On assessment, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 3.70% fixed rate for two years
- Product fee: £490
- Maximum loan-to-value: 75%
- Available to: House purchase customers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-let
HSBC – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week HSBC has reduced its fixed rate buy-to-let offerings by up to 0.10%. The five-year option for homemovers at 75% loan-to-value has seen this cut and is now priced at 3.79% until 28 February 2031. However, the deal does come with a large £3,999 product fee but is partially offset by its free valuation incentive. The reduction cements its position as a ‘Best Buy’ and earns an Outstanding Moneyfacts Product Rating.”
Key product details:
- Rate: 3.79% fixed rate to 28.2.31
- Product fee: £3,999
- Maximum loan-to-value: 75%
- Available to: Second-time buyers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Banking
Lloyds Bank – Club Lloyds
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Lloyds Bank has added a new switching incentive to its Club Lloyds accounts, offering customers £250 to switch using the Current Account Switch Service. Consumers can earn up to 3% credit interest, which could be a bonus for consumers with slightly larger balances, however, it should be noted no interest is paid on balances exceeding £5,000. However, this account does charge a £5 monthly fee for consumers crediting less than £2,000 per month but this is quickly offset by its range of lifestyle benefits and lucrative cashback offers. Further adding to its appeal, consumers will get a £100 interest-free buffer on their overdraft and it is also interest-free for the first three months on switched accounts. Overall, the account earns an Outstanding Moneyfacts product rating.”
Key product details:
- Credit interest / reward: 1.49% gross / 1.50% AER per annum on balances up to £4,000, 2.96% gross / 3.00% AER on balances between £4,000 - £5,000. No interest paid on balances over £5,000.
- Cashback on debit card purchases: Everyday offers – Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card. Customers must be registered for online banking and hold a Lloyds Bank current account to be eligible
- Account fee: £5. Account fee waived if account credited with at least £2,000 per month
- Arranged overdraft: 29.90% EAR, plus £100 interest-free buffer. Interest-free for three months on switched current accounts
- Opening account: Online, by phone, in branch or 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. Eligible for linked Savings Pots. Customers can choose one lifestyle benefit each year from a 12-month Disney+ subscription, cinema tickets, magazine subscription, Gourmet Society membership or digital movie rentals.
Cards
TSB – Platinum Balance Transfer Card Mastercard
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“The latest update from TSB sees it increase the introductory 0% balance transfer term on its Platinum Balance Transfer Card to 38 months. The increase makes this card one of the longest terms on the market and may benefit customers looking to pay off existing balances interest-free. Further adding to its appeal, it also offers 0% on purchases for three months. However, the balance transfer fee remains at 3.49% for the first three months and it is worth noting borrowers can find lower rates elsewhere. As a result, the card earns an Outstanding Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: 0% for three months
- Introductory rate for balance transfers: 0% for 38 months
- Standard rate for purchases: 24.9% APR
- Balance transfer fee: 3.49% as an introductory charge during the first three months from account opening, rising to 5.00% (no min) thereafter
- Card fee: None
- Opening method: Online
- Card management: Online, in branch, by phone and via its mobile app
- Other information: Minimum age 18.
Loans
Novuna Personal Finance – Unsecured Personal Loan
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“The latest update from Novuna Personal Finance sees it reduce the rates on selected tiers of its Unsecured Personal Loan, including the £7,500 to £25,000 tier between two and five years. The loan now charges 5.7% APR, making it one of the most competitive options on the market. Further adding to its appeal, borrowers will not face any early repayment charges, unlike other available deals. On assessment, the product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Representative APR: 5.7%
- Loan period: Rate shown is based on a term of 60 months for a £7,500 borrowing
- Application available: Online and by phone
- Other information: Minimum age 21. Minimum Applicant Net Income £10,000 per year.
Savings
Union Bank of India (UK) Ltd – 1 Year Fixed Rate Deposit
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“Union Bank of India (UK) Ltd has reduced the rate on its 1 Year Fixed Rate Deposit. The account now pays 4.33%, however, it maintains its market-leading position when compared to its peers. Savers will need to deposit at least £1,000, but it is worth noting that withdrawals and further additions are not permitted so they must be comfortable with their investments. For savers who can pay a bit extra, there is a ‘Premier’ Bond which requires a minimum investment of £5,000 and pays 4.33%. Overall, the account receives an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 4.33% gross / 4.33% AER payable on maturity
- Notice / term: One year
- Minimum opening amount: £1,000
- Maximum investment amount: £1 million
- Access: Not permitted
- Further additions: Not permitted
- Opening account: By post and in branch
- Managing account: By post and in branch
- Other information: Simple interest. Minimum applicant age 18. Joint account option available. 0.10% loyalty bonus offered to existing Fixed Rate Deposit holders if they choose to reinvest into another Fixed Rate Deposit at maturity.
Mortgages
first direct – Two-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“first direct has reduced selected fixed rates for house purchase and remortgage borrowers by up to 0.16% this week. One deal to see a slightly smaller 0.09% cut is the two-year deal at 75% loan-to-value, and it is now priced at a competitive 3.70%. Adding to its appeal, the offer carries a smaller than average £490 fee which is offset by its free valuation incentive, which may make it an ideal choice for those looking to save on upfront costs. On assessment, this product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Rate: 3.70% fixed rate for two years
- Product fee: £490
- Maximum loan-to-value: 75%
- Available to: House purchase customers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Buy-to-let
HSBC – Five-year fixed rate mortgage, 75% loan-to-value
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week HSBC has reduced its fixed rate buy-to-let offerings by up to 0.10%. The five-year option for homemovers at 75% loan-to-value has seen this cut and is now priced at 3.79% until 28 February 2031. However, the deal does come with a large £3,999 product fee but is partially offset by its free valuation incentive. The reduction cements its position as a ‘Best Buy’ and earns an Outstanding Moneyfacts Product Rating.”
Key product details:
- Rate: 3.79% fixed rate to 28.2.31
- Product fee: £3,999
- Maximum loan-to-value: 75%
- Available to: Second-time buyers
- Incentives: Free valuation
- Flexible features: Allows overpayments
- Lending area: Great Britain and Northern Ireland.
Banking
Lloyds Bank – Club Lloyds
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“This week Lloyds Bank has added a new switching incentive to its Club Lloyds accounts, offering customers £250 to switch using the Current Account Switch Service. Consumers can earn up to 3% credit interest, which could be a bonus for consumers with slightly larger balances, however, it should be noted no interest is paid on balances exceeding £5,000. However, this account does charge a £5 monthly fee for consumers crediting less than £2,000 per month but this is quickly offset by its range of lifestyle benefits and lucrative cashback offers. Further adding to its appeal, consumers will get a £100 interest-free buffer on their overdraft and it is also interest-free for the first three months on switched accounts. Overall, the account earns an Outstanding Moneyfacts product rating.”
Key product details:
- Credit interest / reward: 1.49% gross / 1.50% AER per annum on balances up to £4,000, 2.96% gross / 3.00% AER on balances between £4,000 - £5,000. No interest paid on balances over £5,000.
- Cashback on debit card purchases: Everyday offers – Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card. Customers must be registered for online banking and hold a Lloyds Bank current account to be eligible
- Account fee: £5. Account fee waived if account credited with at least £2,000 per month
- Arranged overdraft: 29.90% EAR, plus £100 interest-free buffer. Interest-free for three months on switched current accounts
- Opening account: Online, by phone, in branch or 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. Eligible for linked Savings Pots. Customers can choose one lifestyle benefit each year from a 12-month Disney+ subscription, cinema tickets, magazine subscription, Gourmet Society membership or digital movie rentals.
Cards
TSB – Platinum Balance Transfer Card Mastercard
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“The latest update from TSB sees it increase the introductory 0% balance transfer term on its Platinum Balance Transfer Card to 38 months. The increase makes this card one of the longest terms on the market and may benefit customers looking to pay off existing balances interest-free. Further adding to its appeal, it also offers 0% on purchases for three months. However, the balance transfer fee remains at 3.49% for the first three months and it is worth noting borrowers can find lower rates elsewhere. As a result, the card earns an Outstanding Moneyfacts product rating.”
Key product details:
- Introductory rate for purchases: 0% for three months
- Introductory rate for balance transfers: 0% for 38 months
- Standard rate for purchases: 24.9% APR
- Balance transfer fee: 3.49% as an introductory charge during the first three months from account opening, rising to 5.00% (no min) thereafter
- Card fee: None
- Opening method: Online
- Card management: Online, in branch, by phone and via its mobile app
- Other information: Minimum age 18.
Loans
Novuna Personal Finance – Unsecured Personal Loan
Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:
“The latest update from Novuna Personal Finance sees it reduce the rates on selected tiers of its Unsecured Personal Loan, including the £7,500 to £25,000 tier between two and five years. The loan now charges 5.7% APR, making it one of the most competitive options on the market. Further adding to its appeal, borrowers will not face any early repayment charges, unlike other available deals. On assessment, the product earns an Outstanding Moneyfacts product rating.”
Key product details:
- Representative APR: 5.7%
- Loan period: Rate shown is based on a term of 60 months for a £7,500 borrowing
- Application available: Online and by phone
- Other information: Minimum age 21. Minimum Applicant Net Income £10,000 per year.
