Check out this week’s best new financial deals

Savings

Masthaven Bank has increased the rate on its two-year fixed-rate bond, which now pays 1.58% on its anniversary. Savers can invest between £500 and £250,000. Additions are permitted within seven days of opening the account 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 rate is highly competitive and enters the best-buy tables.

 

Teachers Building Society has launched a 90-day notice cash Isa, which pays 1.05% yearly. The minimum investment is £100. Additions are permitted and penalty-free withdrawals are allowed, provided 90 days’ notice is given (otherwise there will be a 90-day loss-of-interest penalty. This deal is for savers aged 16 and over and can be operated by post and online.

It’s good because: This deal heads straight to the top of the best buys, and it is boosted by its flexibility.

 

Mortgages

Skipton Building Society has reviewed its two-year discounted variable-rate mortgage, which is now priced at 1.39% (a discount of 3.35%). This deal is for applicants who borrow at 60% loan-to-value (LTV). There is a fee of £495, which can be added to the advance. There are incentives of free valuations for all borrowers and free legal fees for those remortgaging. Overpayments of up to 10% of the outstanding balance and payment holidays are allowed.

It’s good because: With a low fee and a great incentives package, this could be a cost-effective choice for those with the required 40% deposit.

 

HSBC has reduced its 10-year fixed-rate mortgage, which is now priced at 2.94% until June 2027. This deal is for successful applicants who borrow between £10,000 and £1m at 80% LTV. There is no fee and there are incentives of free valuations for all borrowers and free legal fees for those remortgaging. There is also the flexibility of allowing overpayments of up to 20% of the mortgage payment every month.

It’s good because: This deal heads straight into the best buys, and the lack of a fee combined with its incentives could make this an attractive option for borrowers looking for peace of mind.