Pick of the week

Check out this week’s best new financial deals

Savings

Post Office Money has increased the rate paid on its Premier Cash Isa (Issue 10), an easy-access account, which now pays 1.5% a year, including a 0.85% bonus for 18 months. Savers can invest from £100. Two withdrawals are permitted per tax year, after which the account will be closed or transferred. Transfers-in from both cash and stocks & shares Isas are accepted. This deal is for savers aged 16 and over and can be operated by post and telephone.

It’s good because: Savers who have yet to invest this year’s tax-free allowance might like this update, which heads straight into the best-buy tables.

 

Paragon Bank has increased the rate on its one-year fixed-rate bond, which now pays 2.01% on its anniversary. Savers can invest between £1,000 and £100,000. Additions are permitted within five days of the account opening but early access to funds is not allowed. This deal is for savers aged 18 and over and must be operated online.

It’s good because: This bond is highly competitive and could be a popular choice for those looking for a competitive rate over the shorter term.

 

Mortgages

Natwest has reduced the rate of its five-year fixed-rate Help to Buy mortgage, which is now priced at 4.89% until the end of 2020. This deal is available to all first and second-time buyers who borrow between £25,000 and £570,000 at 95% loan-to-value (LTV), and there is no fee. There is the flexibility of being able to make overpayments of up to of 10% of the outstanding balance.

It’s good because: Borrowers looking to get on to the housing ladder but who have small deposits might be interested in this deal.

 

Skipton Building Society has reviewed its five-year fixed-rate mortgage, which is now priced at 2.77% until late 2020. This deal is for remortgage customers only who borrow up to 70% LTV. There is no fee and there’s an incentives package of free valuation and free legal fees. There is the flexibility to make overpayments of up to 10% of the outstanding balance and take payment holidays.

It’s good because: This is reasonably priced, has no fee and has a great incentives package.