Savings

Close Brothers Savings – 1 Year Fixed Rate Bond

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Close Brothers Savings has increased the rate on its 1 Year Fixed Rate Bond this week, now paying 5.26%, improving its overall position within the market. Savers will need to invest a minimum of £10,000 and further additions can be made for 10 days from the account opening; however, they should note that early access is not permitted. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.26% gross/ 5.26% AER paid yearly
• Notice / term: One year
• Minimum opening amount: £10,000
• Maximum investment amount: £2 million
• Access: None
• Further additions: Permitted for 10 days from account opening
• Opening account: Online
• Managing account: Online, by post and by phone
• Other information: Minimum applicant age 18. Joint account option available.

Oxbury Bank – Personal 2 Year Bond Account -Issue 23

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Oxbury Bank has launched its Personal 2 Year Bond Account, which steals the top position within its sector and pays a market-leading 5.11%. This may be an enticing deal for savers looking for a guaranteed return on their investments for the next two years. As is the case with many fixed term bonds, earlier access is not permitted, however, further additions can be made for 14 days from the account opening via a nominated account, which could be seen as an added bonus. It is also important for investors to note that the account must be funded within the first 14 days, otherwise the account will automatically close. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 5.11% gross / 5.11% AER paid on anniversary
• Notice / term: Two years
• Minimum opening amount: £1,000
• Maximum investment amount: £500,000
• Access: Not permitted
• Further additions: Permitted, for 14 days from the account opening via nominated account
• Opening account: Online
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. Initial deposit must be made within 14 days of account opening, or account will automatically close.

OakNorth Bank – 12 Month Fixed Rate Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, OakNorth Bank has increased the rate on its 12 Month Fixed Rate Cash ISA. It grabs a prominent position in the fixed ISA market and pays an attractive 4.96% gross/5.07 AER monthly, which is a bonus for those looking to boost their income each month. Investors who want to utilise their ISA allowance and are comfortable with locking their cash away may find this an appealing choice. However, it is wise for investors to note that the account must be funded within 30 days of account approval, or it will be closed. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.96% gross / 5.07% AER, payable monthly
• Notice / term: 12 months
• Minimum opening amount: £1
• Maximum investment amount: ISA allowance
• Access: Permitted, subject to 90 days’ loss of interest penalty
• Further additions: Permitted for 30 days from account opening
• Transfers in: Permitted for 30 days from account opening. Accepts Cash ISAs
• Transfers out: Permitted, subject to 90 days’ loss of interest penalty
• Opening account: Online and via its mobile app
• Managing account: Online and via its mobile app
• Other information: Minimum applicant age 18. Account must be funded within 30 days of account approval or account will be closed.

Birmingham Bank – 3 Year Fixed Rate Bond - Issue 3

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week Birmingham Bank has launched a new 3 Year Fixed Rate Bond. The account pays an appealing 4.63%, for investors able to contribute a minimum of £5,000. Careful planning will be required as earlier access is not permitted, although savers will be able to make further contributions for 14 days from the account opening via a nominated account, which may be a more positive note. On assessment, the account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.63% gross / 4.63% AER payable on anniversary
• Notice / term: Three years
• Minimum opening amount: £5,000
• 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: By phone and by post
• Other information: Minimum applicant age 18.

Al Rayan Bank – Raisin UK - 5 Year Fixed Term Deposit

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week Al Rayan Bank has taken the top position in the long-term fixed market by increasing the expected profit rate on its Raisin UK - 5 Year Fixed Term Deposit. Now paying 4.55% gross, the deal may well appeal to savers who are happy to lock away their cash for an extended period in exchange for a competitive return. It is crucial savers are satisfied with their initial investments as earlier access and further additions are not permitted. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.55% gross / 4.55% AER payable on maturity (compounded annually)
• Notice / term: Five years
• Minimum opening amount: £5,000
• Maximum investment amount: £85,000
• Access: Not permitted
• Further additions: Not permitted
• Opening account: Online and via its mobile app by Raisin UK
• Managing account: Online and via its mobile app by Raisin UK
• Other information: Minimum applicant age 18. Shari’ah compliant account – rates shown are expected profit rate.

Mortgages

NatWest – Five-year fixed rate mortgage, 60% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“NatWest has reduced the rate on its five-year fixed rate deal this week. Now priced at a competitive 4.19% until 31 June 2029, the deal is available for borrowers looking to have 40% equity in their home. Borrowers will find a free valuation incentive is included and a reasonable £1,495 product fee, which can be added to the mortgage. This deal may attract those looking to save on the upfront cost and lock into a highly attractive fixed rate. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• 4.19% fixed rate to 31.07.29
• Product fee: £1,495
• Maximum loan-to-value: 60%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: Great Britain, Northern Ireland.

Yorkshire Building Society – Three-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Yorkshire Building Society has made rate increases across selected fixed rates in its range this week. Seeing a small rise of 0.05% is its three-year fixed mortgage at 75% loan-to-value for house purchase customers. Despite the increase, the deal is still priced at an attractive 4.54% until 30 June 2027, however, there is a slightly larger fee of £1,495. Borrowers may be happy to notice that this deal does come with a free valuation incentive attached, and a range of flexible features following certain conditions. Considering the rate increase and enticing incentive package, this product earns an Excellent Moneyfacts product rating.”

Key product details:

• Rate: 4.54% fixed rate to 30.6.27
• Product fee: £1,495
• Maximum loan-to-value: 75%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed level of overpayments previously made
• Lending area: Great Britain and Northern Ireland

first direct – Two-year fixed rate mortgage, 85% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, first direct has re-priced its fixed rate mortgage range. It now offers a two-year fix at 85% loan-to-value, including a five-year fixed offer at 80% loan-to-value which is priced at 4.94%. This deal may be an enticing option for those looking to keep the initial cost of their mortgage low, as it charges a small product fee of £490 and carries an appealing incentive package which includes a free valuation. Borrowers may also be glad to see that they can make overpayments, which may further add to its appeal. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.94% fixed rate for two years
• Product fee: £490
• Maximum loan-to-value: 85%
• Available to: House purchase customers
• Incentives: Free valuation
• Flexible features: Allows overpayments 
• Lending area: Great Britain and Northern Ireland.

Buy-to-Let

Principality Building Society – Five-year fixed rate mortgage, 60% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week Principality Building Society has reduced some of its fixed rates by up to 0.41% across its range. Seeing a smaller reduction, the five-year deal at 60% loan-to-value is now priced at 4.43% until 30 June 2029. The deal comes with an appealing incentive package which includes a free valuation, however, there is a £1,395 product fee which may need to be considered. Overall, this deal earns an Outstanding Moneyfacts product rating.”

Key product details:

• Rate: 4.43% fixed rate to 30.6.29
• Product fee: £1,395
• Maximum loan-to-value: 60%
• Available to: Second-time buyers and remortgage customers
• Incentives: Free valuation
• Flexible features: Allows overpayments
• Lending area: England and Wales.

Banking

Santander – Santander Edge Up current account

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“For customers looking to switch their current account provider, Santander has introduced a new switching incentive this week on a few of its current accounts, including its Santander Edge Up current account. Customers who switch using the CASS (Current Account Switch Service) will now receive £185 cashback following certain conditions. As an added bonus, the card also offers 3.45% gross interest on balances of up to £25,000 alongside offering 1% cashback on household bills, although the account does come with a £5 monthly fee, which some customers may wish to consider. As is the case when switching to any account, customers will need to assess all the benefits and charges to ensure it’s the right choice for them. Overall, the account earns an Outstanding Moneyfacts product rating.”

Key product details:

• Credit interest / reward: 3.45% gross interest on balances up to £25,000
• Cashback on debit card purchases: 1% cashback on debit card spends at transport and grocery merchants
• Account fee: £5
• Arranged overdraft: 39.94% EAR, plus interest-free for four months on switched current accounts
• Opening account: Online, in branch
• Managing account: Online, in branch, by phone, via mobile app or at the Post Office
• Other information: Minimum applicant age 18. £185 cashback for accounts switched when two direct debits are set up, £1,500 paid in and logged into online or mobile banking within 60 days of switching using the Current Account Switch Service. Exclusive offers available, sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers. Customer must be signed up to online and mobile banking to qualify.