Looking for a short-term home for your savings? Here is a roundup of the best 18-month fixed rate bonds currently available.

• Al Rayan Bank tops the chart with a market-leading expected profit rate of 1.10% AER, paid quarterly, on its 18-month Fixed Term Deposit. This Sharia’a-compliant bond requires a minimum investment of £5,000, after which no further deposits can be made and there is no access to funds prior to maturity. The account can be both opened and operated online, in branch, by phone and via mobile app. For those looking for a slightly shorter term, the 12-month version pays an expected profit rate of 1.08% AER, another market-leading deal.

• Next up is DF Capital, with the online-only 18 Month Fixed Rate Deposit (Issue 1) paying the joint-top rate of 1.10% AER on maturity, this time from a minimum investment of £1,000. Further additions are permitted within 14 days of account opening, but early access is not, with the full 18-month term always having to be served.

• OakNorth Bank completes the top three with its 18-month Fixed Term Deposit paying 1.08% AER on maturity (compounded annually), from a minimum investment of just £1. Further additions are welcome for the first 14 days from account opening, but as is common, earlier access isn’t possible from this internet and app-operated bond.

You can find more deals by heading to our chart.

Top products – At a glance

Can you move home during lockdown?

Despite the announcement that a Covid-19 vaccine is likely to be available before the end of 2020, a year of lockdowns – and the possibility that the latest one won’t be the last – combined with the Government’s stamp duty holiday, has resulted in many homeowners making the decision to move home. The good news is, unlike with the first lockdown in the spring, there is still the ability to move home during lockdown 2.0. Here, we take a look at what home-movers in England can and cannot do during the current lockdown.

• Can you still move home during lockdown? During the November lockdown, the Government has advised that people can still move home as long as the property they are moving to is their sole permanent residence. Removal firms are also allowed to work during the lockdown, although the Government advises homeowners to do as much packing and removals as possible themselves and to follow Covid safety guidance.

• Can I still put my house up for sale during lockdown? Yes, as estate agents are able to continue working. However, with the housing market booming and a backlog from the full lockdown earlier this year, homeowners should be aware that the process may take longer than normal, which could mean they miss out on the stamp duty holiday.

• Can you view houses during lockdown? House viewings can still go ahead but open house viewings are not allowed. The Government has recommended that initial viewings be done virtually, while in-person viewings should not involve more than two households inside the property at any one time, including the estate agent. Social distancing is also recommended, as are face coverings.

• Can you still get valuations during lockdown? Yes, although homeowners may have to wait longer than normal for an appointment due to demand. Again, when the valuation takes place, social distancing should be practised, along with wearing a face covering.

• Will the mortgage application still go ahead? Mortgage applications are continuing, although the process may take longer due to people working from home and a high demand in mortgage applications.

You can find out more online, or if you’re considering moving home, speak to a mortgage broker to find the right deal.

Product Spotlight: Two-year fixed rate remortgage

Looking to remortgage? Here are the best two-year fixed rate remortgages currently on offer:

• Lloyds Bank begins this roundup with a rate of 1.17% that’s fixed until 28 February 2023 (3.2% APRC) before reverting to 3.59% variable. Available to remortgage customers at up to 60% loan-to-value (LTV), it comes with a fee of £999 but offers an incentive package of free valuation and legal fees and, for Club Lloyds members, an additional £200 cashback.

• Barclays Mortgage is up next with a rate of 1.28% fixed to 31 January 2023 (3.3% APRC), before reverting to 3.59% variable. It has a fee of £999, is available at up to 60% LTV and has an incentive of free valuation, while remortgage customers benefit from free legal fees or £250 cashback too.

• Completing the top three is Santander with a mortgage priced at 1.29% (3.1% APRC) to 2 February 2023, after which it reverts to 3.35% variable. Available to remortgage customers at up to 60% LTV, the product fee is £999 but the incentives include free valuation for those in England, Wales and Northern Ireland or £95 towards valuation fees in Scotland, as well as free legal fees or £250 cashback on completion.

You can find more two-year fixed rate remortgages by heading to our chart, or speak to a broker for a more personalised overview.

Act quickly to take advantage of switching offers

Consumers looking to boost their finances by getting cashback from switching bank accounts need to act quickly, as NatWest and Royal Bank of Scotland’s offers – which give £125 to those switching – are due to end next week.

“Consumers looking to take advantage of switching cash perks do not have long to do so, as current account providers continue to adjust their offerings,” explained Rachel Springall, finance expert at Moneyfacts.co.uk. “Most recently, Bank of Scotland and Lloyds Bank pulled their £100 switching offer and next week NatWest will pull its £125 cash perk.”

At the moment, HSBC and Metro Bank continue to offer switching deals. With HSBC, customers can earn £125 by switching to a HSBC Premier or Advance current account, while, Metro Bank is offering customers up to £250 when they refer a friend (£50 per referral up to a maximum of five friends), though this is also due to end on 11 December 2020.

Current account perks cut and rates fall

Unfortunately, not only are banks withdrawing switching offers, but there has also been a reduction in the perks being offered. For example, Santander has reduced the cashback offered on communication bills with its Santander 123 Current Account from 3% to just 1%, while it has increased the fee on the 123 Lite Account to £2 per month.

Many customers have seen the amount of interest offered being cut as well. “Savers turning to high interest current accounts will be disappointed by the state of play, with many lucrative offers seeing rate cuts in 2020,” said Rachel. “Most recently, Bank of Scotland and Lloyds Bank made cuts of up to 0.50%, which means customers who have £4,000 in their account will earn 1.50% instead of 2.00% AER.” However, decent offerings are still available, with the highest interest rate on a standard current account coming from Virgin Money, at 2.02% AER on balances up to £1,000.

You can read more online, or find all the top interest rates available on our high interest current account chart.

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