Savings

Virgin Money – Regular Saver Exclusive Issue 5

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

“Virgin Money has launched a new Regular Saver Exclusive account this week, which pays an inflation-busting 6.50% until 26 February 2027. The account grabs a prominent position when compared against its peers and may attract savers who want to build a savings habit. Savers can deposit up to a maximum of £250 each month. There are no restrictions on the number of withdrawals, meaning this may be an attractive option for savers who are looking for flexibility. Overall, this receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 6.50% gross / 6.50% AER variable payable on maturity
• Notice / term: 26.2.27
• Minimum opening amount: None
• Maximum monthly investment amount: £250
• Access: Permitted
• Further additions: Permitted, providing monthly maximum deposit is not exceeded.
• Opening account: Online and in branch
• Managing account: Online, by phone, in branch and via its mobile app
• Other information: Minimum applicant age 16. Those aged 16 or 17 can only open in branch. Unused subscriptions from previous months cannot be made up in subsequent months.

Close Brothers Savings – 5 Year Fixed Rate Cash ISA

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

“Close Brothers Savings has increased the rates across its range of Fixed Rate Cash ISAs. The five-year option takes the market-leading position and now pays an attractive 4.21%. Savers will need to deposit at least £10,000 but further additions are permitted for 10 days from the account opening which may be a bonus for some. Although earlier access is permitted, savers should consider any withdrawals carefully as they will be hit with 365 days’ loss of interest and the closure of the account. This deal may be an enticing option for those looking to make the most of their tax-free savings over the next five years. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.21% gross / 4.21% AER payable yearly
• Notice / term: Five years
• Minimum opening amount: £10,000
• Maximum investment amount: £2 million
• Access: Permitted, on account closure and subject to a 365-day loss of interest penalty
• Further additions: Permitted, for 10 days from account opening
• Transfers in: Permitted, allows Cash and Stocks and Shares ISAs. Transfer instructions must be received within 10 days of account opening
• Transfers out: Permitted, subject to a 365-day loss of interest penalty and closure of the account
• Opening account: Online
• Managing account: Online, by phone and by post
• Other information: Minimum applicant age 18. Investors can choose to split their Cash ISA savings across multiple ISAs within Close Brothers Savings’ range.

Mortgages

HSBC – Two-year fixed rate mortgage, 90% loan-to-value

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

“HSBC has refreshed its mortgage range with increases across selected products. The two-year deal at 90% loan-to-value has seen a small 0.05% jump to 4.24% until 31 May 2028. Despite the rise, the deal maintains its position at the top of its sector and remains a competitive option for borrowers with smaller deposits. Alongside the headline rate, the offer does not carry any arrangement fees, and it also has a generous incentive package which includes a free valuation and £250 cashback which is sure to add to its appeal. On assessment this offering earns an Excellent Moneyfacts product rating.”

 Key product details:

• Rate: 4.24% fixed rate to 31.5.28
• Product fee: None
• Maximum loan-to-value: 90%
• Available to: Second-time buyers
• Incentives: Free valuation and £250 cashback
• Flexible features: Allows overpayments
• Lending area: Great Britain and Northern Ireland.