Check out this week’s best new financial deals

Savings

Skipton Building Society has increased the rate on its Limited Edition Esaver, an easy-access account paying interest of 1.25% a year. Savers can invest between £1 and £250,000. Additions and unlimited withdrawals are permitted. This deal is for savers aged 16 and over and can be operated online only.

It’s good because: People looking to kickstart a savings habit might like this update, which heads straight into the best buys.

 

Paragon Bank has launched a three-year fixed-rate bond paying 2.4% on its anniversary. A monthly-interest option is also available. Savers can invest between £1,000 and £100,000. Additions are permitted for up to five working days after the account opens but early access to funds is not permitted. This deal is for savers aged 18 and over and can be operated online only.

It’s good because: Internet investors might be intrigued by this launch. It is an extremely competitive deal and sits just shy of the market-leader.

 

Mortgages

Tesco Bank has reduced its five-year fixed rate, which is now priced at 2.79% until the end of April 2020. This deal is for customers who borrow from £40,000 at 75% loan-to-value (LTV). There is a fee of £195. An incentive package for remortgage customers of a free valuation and free legal fees is available. Tesco Clubcard holders will receive one Clubcard point for every £4 made in mortgage repayments. There is the flexibility to make overpayments of up to 20% of the outstanding balance as well as take payment holidays.

It’s good because: This sits amongst the top 10 in its sector. As well as a good rate and a low fee, there are good incentives for people remortgaging.

 

Norwich and Peterborough Building Society has reduced the rate on its three-year fixed mortgage, which is now priced at 2.29%. This deal is for customers who borrow from £25,001 at 75% LTV. There is a fee of £195, which can be added to the mortgage advance. Overpayments, underpayments and payment holidays are allowed.

It’s good because: This heads straight into the best buys, and the low fee means it is likely to prove to be a cost-effective choice for many.