Virgin Money has launched an easy-access account paying 1.35% a year. Savers can invest between £1 and £100,000. Additions are permitted and up to three penalty-free withdrawals are allowed in each calendar year. Any subsequent withdrawals will result in the rate being reduced to 0.75% for the remainder of the year. This deal is for savers aged 16 and over and can be operated in branch and online.
It’s good because: Savers who are looking for easy access to their funds might like this. This deal sits comfortably among the top 10 in the market. But plan any withdrawals carefully to ensure you are not penalised.
Skipton Building Society has launched an easy-access cash Isa paying interest of 1.5% a year, including a 0.5% bonus for 12 months. The minimum investment is £1, and additions and early access to funds are permitted. This deal is for savers aged 16 and over and can be operated by branch and post.
It’s good because: This is highly competitive and sits within the top five in its sector.
Leeds Building Society has launched a five-year fixed rate, priced at 2.74% until May 2020. It is available for customers who borrow between £500,000 and £1m at 75% loan-to-value LTV). There is a fee of £199, which can be added to the advance of the mortgage. There are incentives of a free valuation (worth up to £950) and help towards legal costs for remortgage customers. There is the flexibility to make overpayments of up to 10% of the outstanding balance.
It’s good because: This is a best-buy option. The low fee and great incentives package could make this a cost-effective option for many borrowers.
Norwich and Peterborough Building Society has reduced its two-year fixed rate, which is now priced at 1.79%. This is available for house-purchase customers who borrow from £25,001 at 75% LTV. There is a fee of £345, which can be added to the mortgage advance. As an incentive, a rebate of £500 is available. There is the flexibility to make overpayments of up to 10% of the outstanding balance, make underpayments and take payment holidays.
It’s good because: This is a reasonably competitive deal, and the £500 rebate will help minimise the upfront costs.