Check out this week’s best new financial deals

Savings

United Bank UK has launched a one-year fixed-rate bond paying 1.75%. Savers can invest between £2,000 and £1m. No additions are permitted but early access is permitted on closure of the account, subject to 90 days’ loss of interest. This deal is for savers aged 18 and over and can be operated by branch and post.

It’s good because: This is highly competitive and sits comfortably within the top five in its sector.

 

Al Rayan Bank has increased the rate on its 120-day notice Isa, paying 2% (rate indicative of profit). Savers can invest from £250. Transfers-in from cash and stocks & shares Isas are allowed. This deal is for savers aged 16 and over and can be operated by branch, by post, by telephone and online. Al Rayan Bank operates under Islamic finance principles.

It’s good because: This competitive rate sits at the top of the market. The fact that interest is paid monthly further adds to its appeal.

 

Mortgages

Santander has reduced its 10-year fixed rate, which is now priced at 2.94% until May 2025. This deal is for customers who borrow between £6,000 and £1m at 70% loan-to-value (LTV). There is a fee of £995, which can be added to the mortgage advance. Incentives include a free valuation worth up to £1,190 for all borrowers, and remortgage customers get the choice of a £250 rebate or free legal fees. There is the flexibility of being able to make overpayments of up to 10% of the outstanding balance.

It’s good because: Borrowers looking for a long-term mortgage deal might be surprised by offer. It is the lowest 10-year fixed rate on the market today, and it has a great incentives package.

 

Norwich and Peterborough Building Society has reduced its five-year fixed rate, which is now priced at 2.64%. This deal is for people who borrow from £25,001 at 75% LTV. There is a fee of £1,295, which can be added to the advance. Overpayments of up to 10% are allowed, as are underpayments and payment holidays.

It’s good because: This is the cheapest deal in its sector and is likely to prove a cost-effective choice for those who have deposits of 25%.