For cash ISAs...
- Post Office Money has increased the rate paid on its Premier Cash ISA (Issue 10), an easy-access ISA, which now pays 1.50 per cent yearly including a 0.85 cent bonus for 18 months. Savers can invest from £100. Two withdrawals are permitted per tax year, after which the account will be closed or transferred. Transfers in from both cash and stocks & shares ISAs are accepted. This deal is for savers aged 16 and over and can be operated by post and telephone.
- Verdict: Savers who have yet to invest in this year’s tax-free allowance will be delighted by this latest update from Post Office Money. Paying 1.50 per cent, this deal heads straight into the Moneyfacts.co.uk Best Buys. However, savers must review the account before the bonus period expires to ensure a competitive rate is maintained.
For one-year fixed-rate bonds...
- Paragon Bank has increased the rate on its one-year fixed rate bond, which is now pays 2.01 per cent upon its anniversary or 1.99 per cent monthly. Savers must invest from £1,000 up to a maximum of £100,000. Additions are permitted within five days of the account opening, but early access to funds is not allowed. This deal is for savers aged 18 and over and must be operated online.
- Verdict: The 2.01 per cent one-year fixed bond is highly competitive and sits comfortably in the market. This deal is likely to be a popular choice for those looking for a competitive rate over the shorter term.
For those wanting a foothold on the property ladder…
- NatWest has reduced the rate of its five-year fixed rate Help to Buy mortgage, which is now priced at 4.89 per cent to 31.12.20. This deal is available to all first and second-time buyers who borrow between £25,000 and £570,000 at 95 per cent loan-to-value. No fee is payable. This deal also has the added flexibility of being able to make overpayments of up to of 10 per cent of the outstanding balance. NatWest’s lending area includes Scotland.
- Verdict: Borrowers with a small deposit of 5% will be intrigued by this latest update from NatWest. At 4.89 per cent, this deal is highly competitive and heads straight into the Moneyfacts Best Buys. It will be a popular choice for those with modest deposits who are looking to step onto the housing ladder.
For those wanting to remortgage…
- Skipton Building Society has reviewed its five-year fixed rate mortgage, which is now priced at 2.77 per cent to 30.11.20. This deal is for remortgage customers only who borrow at 70 per cent loan-to-value. No fee is payable and an incentive package of free valuation and free legal fees is available. This deal has the flexibility to make overpayments of up to 10 per cent of the outstanding balance and take payment holidays. Skipton’s lending area includes Scotland .
- Verdict: The 2.7 per cent five-year fixed rate mortgage from Skipton Building Society is reasonably priced in the market. Its competitive rate, coupled with no fee and a great incentive package of free valuation and free legal fees, may make this a great deal for those looking to remortgage on a budget.
Thanks to Charlotte Nelson from Moneyfacts.
- Should you ditch your Santander 123 account when it more than doubles the fee in January? Find out here. Plus there's more money savers in every issue of Yours magazine, out every fortnight on a Tuesday.