For two-year fixed-rate bonds...
Aldermore has increased the rate of its two-year fixed-rate bond, which now pays 2.35 per cent upon its anniversary or 2.33 per cent monthly. Savers must invest from £1,000 up to a maximum of £1 million. Additions and early access to funds are not permitted. This deal is for savers aged 18 and over and can be operated by post, by telephone and online.
Verdict: This 2.35 per cent two-year fixed-rate bond is highly competitive and sits towards the top of the market. This Best Buy rate is great for anyone looking to maximise their interest over the shorter term; however, with no early access to funds, savers will need to be happy locking their money away.
For those with larger amounts to squirrel away...
Kent Reliance has launched High Balance Easy Access Issue 2 to its range, which pays a variable rate of 1.55 per cent yearly or 1.54 per cent monthly. Savers must invest from £20,000 up to a maximum of £1 million. Additions and unlimited penalty-free withdrawals are permitted. This deal can be operated in branch, by post, by phone and online.
Verdict: Savers with a balance of £20,000 or more who are looking for easy access to their funds will be delighted by this latest launch from Kent Reliance. Paying 1.55 per cent, this deal heads straight into the Moneyfacts.co.uk Best Buys. With unlimited withdrawals, this is a great deal for anyone looking for savings flexibility.
For five-year fixed-rate homeloans
Hanley Economic Building Society has launched a new five-year fixed-rate mortgage, which is priced at 4.69 per cent until 2.9.20. This deal is for first and second-time buyers only who borrow between £30,000 and £250,000 at 95 per cent loan-to-value. A fee of £250 is payable upfront. An incentive package of a refunded valuation and a £250 rebate is available. This deal has the added flexibility of allowing borrowers to make overpayments of up to 10 per cent of the outstanding balance. Hanley Economic Building Society’s lending area does not include Scotland.
Verdict: Borrowers with a modest deposit of 5 per cent will be intrigued by this latest update from Hanley Economic Building Society. Priced at 4.69 per cent, this deal sits towards the top of the market. Accompanying this great rate is a low fee of £250 and a fantastic incentive package, which includes a refunded valuation and a £250 rebate, making this deal a cost-effective choice for many.
For remortgaging TSB customers...
TSB has reviewed its five-year fixed-rate mortgage, which is now priced at 2.59 per cent until 31.10.20. This deal is for remortgage customers who hold a TSB current account who are looking to borrow between £25,000 and £1 million at 60% loan-to-value. No fee is payable and an incentive package of free valuation, free legal fees and a £150 rebate is available. This deal has the flexibility of being able to make overpayments of up to 10 per cent of the outstanding balance and take payment holidays. A TSB current account can be opened when a mortgage application is submitted. TSB’s lending area includes Scotland.
Verdict: This 2.59 per cent five-year fixed rate from TSB is reasonably priced with the market. With no fee and a great incentive package, this is an attractive option for anyone looking to remortgage with a high street brand.
Thanks to Charlotte Nelson from Moneyfacts.
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