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Money 2

How to get the best savings rates



A stocks and shares ISA is a tax-efficient way of investing in shares and a wide range of funds on the stock market. Here’s an overview of the ISAs that have the highest number of funds available to invest in.

Saturday 30th January 2021


Freetrade tops the list with over 4,000 funds to choose from through its Investment ISA. There’s no minimum lump sum or monthly investment amount required, offering plenty of flexibility to investors. It has a flat fee of just £3/month.



Next up is Zurich, with its Stocks & Shares ISA having over 3,800 funds to invest in, with no minimum lump sum or monthly investment required. Charges are percentage-based and therefore vary depending on the value of your account.



interactive investor’s Stocks & Shares ISA has 3,000+ funds available to invest in on its platform. There’s no minimum lump sum required, and minimum monthly investments start at just £25. It has a flat monthly fee of £9.99.



You can see more on our chart, learn more about investment platforms by reading our guide, or head to Unbiased to find your ideal financial adviser.



Note: the products can be found by scrolling through the stocks & shares ISA page. Stocks & shares ISAs are investment products and returns are not guaranteed. We recommend seeking financial advice before pursuing.

View the deals >>>



Product Spotlight: Equity release



For those aged 55 and over, a lifetime mortgage can be a great way to release equity without needing to move home. Here are some of the best rates currently available.



For those looking for a loan-to-value (LTV) of around 30%, the best rate available comes from Pure Retirement, with its Classic Lite Plus offering a rate of 2.56% AER (2.6% APR) on properties worth a minimum of £125,000. The fee is £500, no interest is payable, and partial repayments of up to 10% per annum are permitted. For those who’d rather not pay a fee, the fee-free version has a rate of 2.61% AER (2.7% APR).



Legal & General Home Finance offers the next-best rate of 2.64% (2.7% APR) on its Flexible Orange and Optional Payment Orange plans. Available on properties worth at least £100,000 at a maximum LTV of 30.5%, both plans come with a fee of £599. On the Flexible Orange plan, no interest is payable and partial repayments are permitted, while the opposite is true for the Optional Payment Orange plan.



For those looking for a minimum LTV of 40%, the best rate again comes from Pure Retirement, with its Heritage Drawdown Max Standard Package (GILT ERCs) charging a rate of 3.98% AER (4.1% APR). The maximum LTV is 40.7% at age 70, the property must be worth at least £70,000 and the fee is £895, with no interest payable and partial repayments permitted.



You can find more of the best rates here, or speak to a broker to get started.

View the deals >>>

Savings




AER

Notice / Term

Easy Access*

0.60%

None

View table

Fixed Rate Bonds*

1.50%

5 Years

View table

Fixed Rate ISAs*

1.30%

5 Years

View table

Variable Rate ISAs*

0.60%

None

View table

Regular Savings Accounts*

2.00%

12 Months

View table

Notice Accounts*

0.85%

95 Days

View table

Monthly Interest Accounts*

1.35%

7 Years

View table

*Excludes linked accounts, existing customer deals, profession or location dependent accounts

Deal of the week


18-month Premier Deposit Account



Looking for a short-term home for your savings? This 18-month bond from Bank of London and The Middle East (BLME) pays an expected profit rate of 0.65% AER from a minimum investment of £1,000. The Sharia’a-compliant account doesn’t permit further additions or withdrawals, and must be opened online before becoming postal-operated.

APPLY NOW

Mortgages




Rate

Period

APRC


First Time Buyer*

100% LTV

2.74%

(DV)

2 Years

4.5%

View table

Remortgage*

60% LTV

1.14%

(F)

to 30

April

2023

3.9%

View table

Buy-to-let*

65% LTV

1.19%

(F)

to 31 March
2023

4.5%

View table

Moving Home*

60% LTV

1.14%

(F)

to 30

April

2023

3.8%

View table

*Excludes existing customer only or location specific products



Representative example: £168,000 mortgage over 25 years initially at 2.74% variable for 24 months reverting to 4.74% variable for term. 24 monthly payments of £774.14 and 276 monthly payments of £943.39. Total amount payable £279,290.00 includes loan amount, interest of £110,955, valuation fees of £185 and product fees of £0. The overall cost for comparison is 4.5% APRC representative.

Deal of the week


Two-year fixed rate mortgage



This mortgage from first direct has a rate of 1.24% (3.2% APRC) that’s fixed for two years before reverting to 3.54% variable. It’s available at up to 60% LTV and its incentives include free valuation as well as free legal fees for remortgages, and it has a fee of just £490, which makes it on par with some of its lower-rate but higher-fee competitors.



YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Terms and Conditions apply

APPLY NOW

Representative Example: £218,000 mortgage over 25 years initially at 1.24% fixed for 24 months reverting to 3.54% variable for term. 24 monthly payments of £845.48 and 276 monthly payments of £1075.81. Total amount payable £317,755.08 includes loan amount, interest of £99,215, valuation fees of £0 and product fees of £490. The overall cost for comparison is 3.2% APRC representative.



Latest News



How to get the best savings rates in today’s market

Savers looking for an easy access account or a regular saver account will find it more difficult than last year to get a top-rate deal as banks and building societies increasingly restrict their accounts. These restrictions include limiting accounts to existing customers, specific geographic regions or only allowing applications in branch – an option that is limited due to Coronavirus restrictions. Right now, three out of the top 10 easy access rates, six of the top 10 easy access ISA rates and eight of the top regular saver rates include some form of restriction. But savers can still get the best easy access and regular savings rates – if they know where to look.

Continue reading >>>



Gap between two and five-yr mortgages falls – should you lock in?

The difference between the average rate on a two and five-year fixed mortgage deal fell last year to 0.27%, meaning that mortgage borrowers considering a five-year deal will not pay much more than those looking at two-year deals. Given the widespread economic uncertainty at present, is it time to consider locking into a longer-term deal? We crunch the numbers.

Continue reading >>>



What are the best ISA investment funds in January 2021?

The end of 2020 saw a level of optimism return to the markets as more vaccines gained regulatory approvals, alongside an expectation of reducing lockdowns and opportunities for travelling again. Yet the start of 2021 has seen this optimism fall away as Coronavirus cases increased and lockdown became tougher. This means it’s increasingly important for investors to choose their funds wisely, and to seek advice. To help, we’ve summarised the five best-performing ISA investment funds for a £1,000 investment over the past 12 months and five years, and take a look at whether now’s the time to invest in the stock market, be it through a stocks & shares ISA provider (such as interactive investor), an investment platform, or elsewhere.

Continue reading >>>

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.


Deal of the week


LV= car insurance



Getting the right car insurance can give you peace of mind when you’re on the road. So why not go with the provider that’s been voted the top insurer in the UK for customer service? LV= takes that accolade, and with low prices, a 99% payout rate and plenty of optional extras, you can have a tailored policy that perfectly meets your needs. Those with more than one vehicle in the household can save over 20% with LV=’s Multi Car policy, too. Get in touch for a quote.

GET A QUOTE

News Highlights

Savings News



– The best savings rates this week 29.01.21



– The best ISA rates this week 28.01.21



– Nationwide launches two extra Start to Save prize draws

Mortgages News



– The best residential mortgage rates 29.01.21



– How to avoid equity release scams



– Should you buy a new build?

Money News



– The winners of the 2021 Consumer Awards have been revealed



– Moneyfacts Weekly Product News – 28.01.21



– What to do if your summer holiday is cancelled

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