Product Spotlight: Online easy access ISAs
If you’re looking for a flexible home for your tax-free savings, here we round up the best easy access ISAs currently available that can be opened online.
• Taking the top spot is Cynergy Bank, with Online ISA (Issue 12) paying 0.46% AER yearly from a minimum investment of just £1. This purely internet-operated account permits further additions and transfers in of previous cash ISAs (the latter only on account opening), with unlimited withdrawals and penalty-free transfers out allowed. Access is via a nominated current account, and savers should note that a Cynergy Bank Authenticator App or Digipass is required to use online banking.
• Next up is Charter Savings Bank, with the internet-operated Easy Access Cash ISA – Issue 21 paying 0.45% AER on its anniversary or monthly from a minimum investment of £5,000. Further additions are welcome via a nominated account with transfers in permitted, and withdrawals and transfers out are similarly allowed on a penalty-free basis.
• Paragon Bank takes third place with Triple Access (Issue 4) paying 0.41% AER on its anniversary from a minimum deposit of just £1. Further additions are welcome, as are transfers in, though savers should note that only three withdrawals will be allowed per year, with any more resulting in the rate dropping to 0.25%. A version of the account that pays interest monthly is also available. To find out more or apply online, head to the provider’s website.
• Meanwhile, Nationwide Building Society pays 0.40% AER with its 1 Year Triple Access Online ISA 10. Interest is paid on its anniversary and savers can open the account with a minimum of just £1, with further additions and transfers in welcome. Withdrawals are also possible, though a rate of 0.01% will be paid if more than three withdrawals are made per year. This internet and app-operated account will revert to a Triple Access Online ISA after 12 months. Find out more or apply online by going straight to the provider’s website. Marcus by Goldman Sachs also pays 0.40% AER on its Cash ISA, this time on a monthly basis, with unlimited further additions and withdrawals allowed.
You can find more of the best online easy access ISAs by heading to our chart.
Product spotlight: Two-year low-fee remortgages
Ready to remortgage but don’t want to pay extortionate fees? Here, we outline the best two-year fixed rate remortgages that have product fees of less than £1,000, which crucially, makes their total cost lower than some lower-rate but higher-fee counterparts.
• First up is Barclays Mortgage, with a rate of 1.08% (3.2% APRC) that’s fixed to 31August 2023 before reverting to 3.59% variable for term. It’s available at up to 60% loan-to-value (LTV) and has a fee of £999, with incentives that include free valuation and either free legal fees or £250 cashback. Overpayments are permitted, too.
• Next up is Santander, with a rate of 1.10% (3.0% APRC) fixed to 2 September 2023, after which it reverts to 3.35% variable for term. It’s available at up to 60% LTV with a fee of £999, and its incentives include free valuation in England, Wales and Northern Ireland (or up to £95 towards valuation fees in Scotland) as well as £250 cashback or free legal fees. Overpayments are allowed. NatWest Intermediary Solutions has a deal paying the same rate that’s only available through brokers – the rate of 1.10% (3.2% APRC) is fixed to 31 August 2023 before reverting to 3.59% variable, with a fee of £995 and a maximum LTV of 60%. It offers an incentive package of free valuation and legal fees, and it permits overpayments as well.
• Completing this overview is Skipton Building Society, with a 60% LTV deal charging a rate of 1.13% (3.8% APRC) that’s fixed to 30 September 2023 before reverting to 3.64% variable for term. The fee of £995 is offset by the incentive package of free valuation and legal fees, and it permits both overpayments and payment holidays.
Find more of the best two-year remortgage deals by heading to our chart.
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Will the Lifetime Allowance impact your pension savings?
In the spring budget, the Government froze the Lifetime Allowance on pensions until the 2025/26 tax year, with it remaining at the current limit of £1,073,100 for another five years. As many pension savers may not be aware of what the Lifetime Allowance is and whether it will impact their retirement savings, here we’ve looked at who the Lifetime Allowance will impact and how savers can lock into a higher amount – because although it may sound impossible to most, the rising rate of inflation, as well as the possibility of high investment growth in the next few years, could mean that some pension savers may see their savings exceed the limit.
Is it too late to invest in the UK holiday let market?
The demand for holidays in the UK has ramped up in the last year due to the restrictions in place on international travel, and despite these starting to lift, the outlook remains uncertain, which means demand continues to outstrip supply in the UK’s holiday hotspots. Mortgage lenders have responded and there are now 154 holiday let mortgages available, not far off the pre-pandemic levels of 162 in March 2020. So, is now a good time to invest in the market to capitalise on the continued upswing into the summer holidays? We take a look.
How to get the best breakdown deal
With the half-term holidays coming up, many families will be looking to take advantage of the easing of lockdown restrictions with a UK-based trip. Holidaying in the UK takes a lot of the hassle out of travelling and, instead of arranging flights and airport transfers, holidaymakers simply need to pack up their car and drive to their destination. To make it even more stress-free, they may want to consider getting breakdown cover, just in case the worse happens and they end up stranded by the side of the road. For those who are not yet covered, or who did not renew their cover during the pandemic, here are some tips on getting the best breakdown deal.
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Deal of the week
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