Moneyfacts Pick of the Week: Latest Financial Products Showcase

Caitlyn Eastell

Apprentice Press & PR Assistant

Published: 19/09/2024

Last updated: 19 September 2024 at 09:30

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market, ranging from mortgages to savings accounts. This week I've analysed the following deals, along with their perks.

Savings

DF Capital

DF Capital has relaunched its 90 Day Notice Account (Issue 1). Paying 5.18% gross at investments worth £1,000, the account takes the market-leading position in the notice and monthly interest arenas. Earlier access is not permitted, so 90 days’ notice will need to be given for savers to access their cash, additionally they will need to withdraw a minimum of £1,000.

Interest is paid monthly, which may be an enticing option for those looking to boost their income each month. Adding to its appeal, further additions are permitted via a nominated account. Overall, the deal earns an Excellent Moneyfacts Rating.

Last updated: 19/09/2024

DF Capital – 90 Day Notice Account (Issue 1)
Rate: 5.18% gross 5.30% AER, payable monthly

Notice / term: 90 days

Minimum opening amount: £1,000

Maximum investment amount: £250,000

Access: Permitted, subject to 90 days’ notice

Further additions: Permitted via nominated account

Opening account: Online

Managing account: Online

Other information: Minimum applicant age 18.
Compare Notice Accounts Up to 90 Days

Trading 212

This week Trading 212 increased the rate on its Cash ISA. Paying 4.97% gross, the deal takes the leading position in our top rate tables when compared against its peers. This may be an enticing option for savers who would like more flexibility with their tax-free savings.

The deal may appeal to many as it does not require any minimum opening balance and additions can be as small as £1. On assessment, the account secures an Excellent Moneyfacts product rating.

Last updated: 19/09/2024

Trading 212 – Cash ISA
Rate: 4.97% gross / 5.10% AER payable daily

Notice / term: None

Minimum opening amount: None

Maximum investment amount: ISA allowance

Access: Permitted

Further additions: Permitted

Transfers in: Permitted. Accepts Cash and Stocks & Shares ISAs

Transfers out: Permitted

Opening account: Online and via mobile app

Managing account: Online and via mobile app

Other information: Minimum applicant age 18.
Go To Provider's Site

SmartSave

This week SmartSave has reduced the rate on its 1 Year Fixed Rate Saver. Despite this it maintains a competitive position within its sector. The account pays 4.82%, for those able to invest a minimum of £10,000.

As is the case with many fixed bonds, savers cannot withdraw their cash before the term is completed, but they may be happy to see that further additions can be made for 14 days from the account opening. Overall, the account receives an Excellent Moneyfacts product rating.

Last updated: 19/09/2024

SmartSave – 1 Year Fixed Rate Saver
Rate: 4.82% gross / 4.82% AER payable on maturity (compounded annually)

Notice / term: One year

Minimum opening amount: £10,000

Maximum investment amount: £85,000

Access: Not permitted

Further additions: Permitted for 14 days from account opening

Opening account: Online

Managing account: Online

Other information: Minimum applicant age 18.
Compare 1 Year Fixed Rate Bonds

Birmingham Bank

This week Birmingham Bank has increased the rate on its 3 Year Fixed Rate Bond. The account pays 4.53% which is the market-leading rate for its sector, and it is available for investors able to contribute a minimum of £5,000.

Careful planning will be required as earlier access is not permitted, although savers will be able to make further contributions for 14 days from the account opening via a nominated account, which may be more positive news. On assessment, the account receives an Excellent Moneyfacts product rating.

Last updated: 19/09/2024

Birmingham Bank – 3 Year Fixed Rate Bond - Issue 11
Rate: 4.53% gross / 4.53% AER payable on anniversary

Notice / term: Three years

Minimum opening amount: £5,000

Maximum investment amount: £250,000

Access: Not permitted

Further additions: Permitted for 14 days from account opening via nominated account

Opening account: Online

Managing account: Online, by phone and by post

Other information: Minimum applicant age 18.
Compare 3 Year Fixed Rate Bonds

Hodge Bank

This week, Hodge Bank has reduced the rate on its two-year fixed ISA to 4.32% gross/AER which is paid on the anniversary of the account opening. This may be great news for savers wishing to utilise their full ISA allowance and receive a guaranteed return as the deal takes a competitive position within its sector. There is also a monthly interest option available.

Investors should note that earlier access is subject to 180 days’ loss of interest so careful planning is crucial. Further additions can also be made for 14 days from the account opening via a nominated account, which may be a positive note for savers. On assessment, the deal earns an Excellent Moneyfacts product rating.

Last updated: 19/09/2024

Hodge Bank – 2 Year Fixed Rate Cash ISA
Rate: 4.32% gross / 4.32% AER payable on anniversary / monthly interest option of 4.24% gross / 4.32% AER also available

Notice / term: Two years

Minimum opening amount: £1,000

Maximum investment amount: ISA allowance

Access: Permitted, subject to 180-day loss of interest penalty

Further additions: Permitted, for 14 working days from account opening via nominated account

Transfers in: Not permitted

Transfers out: Permitted, subject to 180-day loss of interest penalty

Opening account: Online

Managing account: Online

Other information: Minimum applicant age 18.
Compare 2 Year Fixed Rate ISAs

Mortgages

Santander

Santander has reduced selected fixed rates for house purchase customers by up to 0.29% this week. One deal to see such a cut is its two-year 60% loan-to-value fixed rate mortgage, which is now priced at 3.99% and is the lowest rate available in the UK market when compared to its peers.

Borrowers can also benefit from a reasonable £999 arrangement fee as well as an appealing incentive package, which includes a free valuation. Overall, this product earns an Outstanding Moneyfacts product rating.

Last updated: 19/09/2024

Santander – Two-year fixed rate mortgage, 60% loan-to-value
Rate: 3.99% Fixed to 02 February 2027 reverting to 7.25%

APRC: 6.8%

Product fee: £999

Maximum loan-to-value: 60%

Available to: House purchase customers

Incentives: Free valuation

Flexible features: Allows overpayments

Lending area: Great Britain and Northern Ireland.

_{Representative example: £250,000 mortgage over 25 years initially at 3.99% fixed for 28 months reverting to 7.25% variable for term. 28 monthly payments of £1318.21 and 272 monthly payments of £1767.68. Total amount payable £518,992.84 includes loan amount, interest of £267,719, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.8% APRC representative.}
Compare 2 Year Fixed Rate Mortgages

Furness Building Society

This week Furness Building Society has reduced the rates on a selection of its ‘Own New’ and core fixed rate mortgages by up to 0.37%. One deal seeing a slightly smaller, but still significant cut of 0.36%, is the two-year fixed deal at 80% loan-to-value for house purchase customers. Priced at 4.39% for two years, this product could be an enticing option for those looking to secure a competitive package.

The appeal of this product is further boosted for borrowers trying to keep the initial cost of their mortgage low as it comes with a reasonable £999 fee and an attractive incentive package which includes a free valuation and £250 cashback . Overall, this deal receives an Outstanding Moneyfacts product rating.

Last updated: 19/09/2024

Furness Building Society – Two-year fixed rate mortgage, 80% loan-to-value
Rate: 4.39% Fixed for 2 years reverting to 6.60% Discounted Variable

APRC: 7.5%

Product fee: £999

Maximum loan-to-value: 80%

Available to: House purchase

Incentives: Free valuation and £250 cashback

Flexible features: Allows overpayments

Lending area: Great Britain.

_{Representative example: £250,000 mortgage over 25 years initially at 4.39% fixed for 24 months reverting to 6.60% variable for 36 months and 8.54% variable for term. 24 monthly payments of £1374.02, 36 monthly payments of £1681.85 and 240 monthly payments of £1947.92. Total amount payable £562,237.88 includes loan amount, interest of £311,024, valuation fees of £75 and product fees of £999. The overall cost for comparison is 7.5% APRC representative.}
Compare 2 Year Fixed Rate Mortgages

Leeds BS

Leeds BS has made reductions to selected fixed rates in its residential range this week. One deal to see a cut of 0.06% is its two-year fixed deal, which is now priced at 5.63% until 31 December 2026.

Borrowers may well find this an enticing deal as it does not charge any product fees and comes with an attractive incentive package which includes a free valuation and £500 cashback, making it an ideal choice for those with limited deposits. Overall, the product earns an Outstanding Moneyfacts product rating.

Last updated: 19/09/2024

Leeds BS – Two-year fixed rate mortgage, 95% loan-to-value
Rate: 5.63% Fixed to 31 December 2026 reverting to 7.49%

APRC: 7.7%

Product fee: None

Maximum loan-to-value: 95%

Available to: House purchase customers

Incentives: Free valuation and £500 cashback

Flexible features: Allows overpayments, and lump sums subject to approval

Lending area: England, Wales, mainland Scotland and Northern Ireland.

_{Representative example: £200,000 mortgage over 25 years initially at 5.63% fixed for 27 months reverting to 7.49% variable for 36 months and 8.24% variable for term. 27 monthly payments of £1243.75, 36 monthly payments of £1460.82 and 237 monthly payments of £1544.37. Total amount payable £452,435.46 includes loan amount, interest of £252,186, valuation fees of £0 and product fees of £0. The overall cost for comparison is 7.7% APRC representative.}
Compare 2 Year Fixed Rate Mortgages

Buy-to-Let

Cambridge Building Society

Cambridge Building Society has reduced some of its fixed rate offerings in its buy-to-let range. One of those deals seeing this reduction is the five-year fixed rate, now charging 4.99% at 80% loan-to-value. Those remortgaging will find incentives of a free valuation and free legal fees included.

This deal offers a fair product fee of £999, which is ideal for those looking to save significantly on upfront costs. Overall, the deal earns an Outstanding Moneyfacts product rating.

Last updated: 19/09/2024

Cambridge Building Society – Five-year fixed rate mortgage, 80% loan-to-value
Rate: 4.99% Fixed for 5 years reverting to 9.29%

APRC: 8.0%

Product fee: £999

Maximum loan-to-value: 80%

Available to: Second-time buyers and remortgage customers

Incentives: Free valuation, and free legal fees for those remortgaging

Flexible features: Allows overpayments

Lending area: England and Wales.

_{Representative example: £170,000 mortgage over 25 years initially at 4.99% fixed for 60 months reverting to 9.29% variable for term. 60 monthly payments of £706.92 and 240 monthly payments of £1316.08. Total amount payable £529,383.40 includes loan amount, interest of £358,274, valuation fees of £0 and product fees of £999. The overall cost for comparison is 8.0% APRC representative.}
Compare 5 Year Fixed Rate Buy-To-Let Mortgages

Lloyds Bank

This week Lloyds Bank has reduced rates across its fixed rate deals by up to 0.13%. Its two-year fixed rate mortgage at 70% loan-to-value was among those to see this rate cut and is now priced at 5.01% until 30th November 2026.

The deal does not carry any arrangement fee and comes with an attractive incentive package of a free valuation, which could entice landlords looking to save on the upfront cost of their mortgage. Overall, this deal earns an Outstanding Moneyfacts product rating.

Last updated: 19/09/2024

Lloyds Bank – Two-year fixed rate mortgage, 70% loan-to-value
Rate: 5.01% Fixed to 30 November 2026 reverting to 9.34% Variable

APRC: 8.9%

Product fee: None

Maximum loan-to-value: 70%

Available to: Second-time buyers

Incentives: Free valuation

Flexible features: Allows overpayments

Lending area: Great Britain and Northern Ireland.

_{Representative example: £170,000 mortgage over 25 years initially at 5.01% fixed for 26 months reverting to 9.34% variable for term. 26 monthly payments of £709.75 and 274 monthly payments of £1323.17. Total amount payable £551,052.08 includes loan amount, interest of £381,002, valuation fees of £0 and product fees of £0. The overall cost for comparison is 8.9% APRC representative.}
Compare 2 Year Fixed Rate Buy-To-Let Mortgages

Furness Building Society

This week Furness Building Society has reduced the majority of its buy-to-let fixed rates by up to 0.30%. One deal seeing a slightly smaller cut of 0.19% is the two-year fixed at 80% loan-to-value for second-time buyers and remortgage customers. Priced at a 5.39% for two years, this product could be an enticing option for landlords to secure a competitive rate.

The deal comes with an enticing incentive package which enhances it appeal which includes £250 cashback for all borrowers, and for those remortgaging also includes a free valuation. There is also a reasonable £995 product fee attached. Overall, this deal receives an Outstanding Moneyfacts product rating.

Last updated: 19/09/2024

Furness Building Society – Two-year fixed rate mortgage, 80% loan-to-value
Rate: 5.39% Fixed for 2 years reverting to 6.60% Discounted Variable

APRC: 8.0%

Product fee: £995

Maximum loan-to-value: 80%

Available to: Second-time buyers and remortgage customers

Incentives: £250 cashback for all, and for those remortgaging a free valuation

Flexible features: Allows overpayments

Lending area: Great Britain.

_{Representative example: £170,000 mortgage over 25 years initially at 5.39% fixed for 24 months reverting to 6.60% variable for 36 months and 8.54% variable for term. 24 monthly payments of £763.58, 36 monthly payments of £935.00 and 240 monthly payments of £1209.83. Total amount payable £513,555.12 includes loan amount, interest of £342,345, valuation fees of £75 and product fees of £995. The overall cost for comparison is 8.0% APRC representative.}
Compare 2 Year Fixed Rate Buy-To-Let Mortgages

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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Moneyfacts pick of the week

Caitlyn Eastell

News contents

Savings

DF Capital

Trading 212

SmartSave

Birmingham Bank

Hodge Bank

Mortgages

Santander

Furness Building Society

Leeds BS

Buy-to-Let

Cambridge Building Society

Lloyds Bank

Furness Building Society

News contents

Moneyfacts pick of the week

Caitlyn Eastell

News contents

Savings

DF Capital

Trading 212

SmartSave

Birmingham Bank

Hodge Bank

Mortgages

Santander

Furness Building Society

Leeds BS

Buy-to-Let

Cambridge Building Society

Lloyds Bank

Furness Building Society

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