For easy-access savings...
- Virgin Money has launched an easy-access account paying 1.35% yearly or 1.34% monthly. Savers can invest from as little as £1 up to a maximum of £100,000. Additions are permitted and up to three penalty-free withdrawals are allowed per calendar year. However, any subsequent withdrawals will result in the rate being reduced to 0.75% for the remainder of the year. This deal is for savers aged 16 and over and can be operated in branch and online.
- Verdict: Savers who are looking for easy access to funds will be delighted by this launch from Virgin Money. Paying 1.35%, this deal sits comfortably among the top ten in the market. However, with the rate dropping significantly after three withdrawals, savers will have to plan carefully to ensure they are not penalised.
For easy-access ISA savings....
- Skipton Building Society has launched a new easy-access cash ISA paying 1.50% yearly (1.49% monthly) including a 0.50% bonus for 12 months. Savers can invest from as little as £1, while additions and earlier access to funds are permitted. This deal is for savers aged 16 and over and can be operated by branch and post.
- Verdict: This easy-access cash ISA paying 1.50% is highly competitive, sitting within the top five in its sector. This is an ideal product for savers looking to kick-start their ISA savings.
For five-year fixed-rate mortgages...
- Leeds Building Society has launched a new five-year fixed rate, priced at 2.74% to 31.5.20. This deal is for all customers who borrow between £500,000 and £1 million at 75% loan-to-value. A fee of £199 is payable, all of which can be added to the advance of the mortgage. An incentive package of free valuation (max £950) and help towards legal costs for remortgage customers is available. This deal has the flexibility to make overpayments of up to 10% of the outstanding balance. Leeds Building Society’s lending area includes Scotland.
- Verdict: The new five-year fixed rate priced at 2.74% from Leeds Building Society is highly competitive and heads straight into the Moneyfacts.co.uk Best Buys. The added bonus of a low fee and a great incentive package is likely to make this a cost-effective option for many.
For two-year fixed-rate mortgages...
- Norwich & Peterborough Building Society has reduced its two-year fixed rate, which is now priced at 1.79%. This deal is for house purchase customers who borrow from £25,001 at 75% loan-to-value. A fee of £345 is payable, all of which can be added to the advance of the mortgage. An incentive package of a £500 rebate is available. This deal has the flexibility to make overpayments of up to 10% of the outstanding balance, make underpayments and take payment holidays. Norwich & Peterborough’s lending area does not include Scotland .
- Verdict: House purchase customers looking for a two-year fixed rate will be intrigued by this latest launch from Norwich & Peterborough Building Society. Priced at 1.79% for two years, this deal is reasonably competitive. Borrowers will also be able to enjoy an incentive package of a £500 cash rebate, which will help minimise any upfront costs, making this an attractive option for many.
Thanks to Charlotte Nelson from Moneyfacts
- Find out how to bank online here. Plus read how to get the best rates by improving your credit rating here.