Halifax has increased the rate on its one-year fixed Isa, which now pays 1.60%. Savers aged 16 and over must invest a minimum of £500 to be eligible. Additions are permitted within 60 days of the account opening. Early access is subject to 90 days’ loss of interest and closure of the account. Transfers in are accepted and savers can open and operate the account in branch, by telephone and online.
It’s good because: This rate rise pushes the Isa into the Moneyfacts best buys, and it might appeal to savers who are looking for a top rate with a recognised high-street brand.
Saga’s three-year fixed-rate bond has had a rate increase and now pays up to 2.5% annually. A minimum of £1 must be invested to open the account but at least £10,000 must be deposited to earn the highest rate of 2.5%. A maximum of £10m can be invested. Further additions are not permitted but early access is available subject to up to 270 days’ loss of interest, depending on the length of the remaining term. Savers must be aged 50 or over to be eligible and must operate the account by post, although they can apply online or by phone.
It’s good because: This secures a position in the best-buy tables. Those who have £10,000 to invest over three years will find the interest rate appealing in the current market.
Newcastle Building Society has introduced a 10-year fixed-rate mortgage deal to its range, which is priced at 3.75% until October 2025. This deal is for customers who borrow from £10,000 at 80% loan-to-value (LTV). There is no fee and there is a free valuation. Borrowers can make regular or lump-sum overpayments.
It’s good because: Borrowers looking to keep upfront costs down might be attracted by this offer, and it could appeal to those looking for security against potential rate rises.
Skipton Building Society has made several reductions to its mortgage rates, including its two-year fixed-rate deal, which is now priced at 2.99% until November 2017. This deal is for first and second-time buyers who borrow up to 90% LTV. There is a fee of £955, all of which can be added to the mortgage advance. There is a free valuation, and the flexibility of allowing overpayments of up to 10% of the outstanding balance and payment holidays.
It’s good because: It could prove attractive to borrowers looking to minimise their upfront costs and who want some flexibility over their repayments.