United Bank UK has increased the rate on its one-year fixed-rate bond, which now pays 1.91% on maturity. Savers can invest between £2,000 and £1m. Additions are not permitted but early access to funds is allowed subject to the manager’s discretion and a penalty of 90 days’ loss of interest. This deal is for savers aged 18 and over and can be operated in branch or by post.
It’s good because: This is highly competitive and heads straight into the best buys. With the flexibility of early access to funds (subject to a penalty), this could be a popular choice for those looking for a short-term home for their savings.
Julian Hodge Bank has amended its two-year fixed-rate Isa, which now pays 1.8% a year. Savers can invest from £5,000. Additions are not permitted but early access to funds is allowed, subject to a penalty and closure of the account. Transfers in from cash and stocks & shares Isas are accepted. This deal is for savers aged 16 and over and can be operated by post only.
It’s good because: Savers looking to utilise their tax-free allowance might like this account amendment. In terms of its rate, it sits within the top five of the market.
Norwich and Peterborough Building Society has launched a five-year fixed rate, priced at 2.64%. This deal is for house-purchase customers only who borrow from £25,001 at 75% loan-to-value (LTV). There are no fees payable and there are incentives of a free valuation and a £1,000 cash rebate. There is the flexibility of being able to make overpayments of up to 10% of the outstanding balance, make underpayments and take payment holidays.
It’s good because: This is highly competitive and sits well in its sector. The absence of any product fees and a brilliant incentives package makes this a great option for those looking to minimise any upfront costs.
Santander has revised its two-year fixed-rate mortgage, which is now priced at 2.34%. This deal is for customers who borrow between £6,000 and £1m at 80% LTV. There are no fees. There are free valuations (worth up to a maximum of £1,190) for all borrowers, while remortgage customers will also have the choice of free legal fees or a £250 rebate. Overpayments of up to 10% of the outstanding balance are allowed.
It’s good because: Borrowers looking for a high-street lender might like this update from Santander. It is reasonably priced, and the lack of a fee and great incentives could make it a cost-effective option for many.
Halifax has lengthened and renamed its Balance Transfer Credit Card Mastercard, which now has a joint market-leading introductory balance transfer deal of 36 months. The card charges an introductory balance transfer fee of 2.9% and purchases will be charged at 18.9% after a six-month introductory period expires. Customers must make a transfer within 90 days to benefit from the 0% interest period. Applications must be made online.
It’s good because: This is a great option for borrowers looking to consolidate their debts at a low cost.