Product Spotlight: Online easy access ISAs
If you’re looking for a home for your 2021/22 ISA allowance, but still want to be able to access your money when you need it, you’ll want an easy access ISA to suit. Here are the top ISA deals currently available that can be opened online.
• Paragon Bank takes the top spot with Triple Access ISA (Issue 3), an account that pays 0.40% AER from a minimum investment of just £1. It permits transfers in and further additions are welcome, though it should be noted that while access is allowed, only three withdrawals are permitted on a penalty-free basis each year, with any further access resulting in a lower rate being paid. You can find out more and apply direct by going straight to the provider’s site.
• Next up is Nationwide Building Society with 1 Year Triple Access Online ISA 10 paying 0.40% AER on its anniversary. It requires a minimum investment of £1 and permits transfers and further additions, though as with the previous account, only three penalty-free withdrawals will be allowed during the 12-month term, with a lower rate paid for the remainder of the term if this limit is exceeded. After 12 months the account will revert to a Triple Access Online ISA. Go to the provider’s site to find out more and apply.
• Yorkshire Building Society takes third place with Six Access e- Saver ISA Issue 5. It pays tiered rates of interest depending on the balance, with the minimum investment of £1 attracting a rate of 0.15% AER yearly, rising to 0.25% AER at £1,000, 0.40% AER at £10,000 and 0.45% AER at £50,000. Transfers in and further additions are permitted, as are withdrawals and transfers away from this purely internet-operated account, though it should be noted that access to funds will only be possible on six withdrawal days per year.
Product Spotlight: 80% LTV buy-to-let mortgages
It’s a promising time to be a landlord, with the number of buy-to-let (BTL) mortgage deals available at its highest level since March 2020. If you’re looking for a new loan, we’ve rounded up the best BTL mortgages for landlords with a 20% deposit or equity.
• First up is Loughborough Building Society, with a two-year discounted variable rate of 3.15% (2.19% discount) (5.2% APRC) that reverts to 5.34% variable thereafter. There are no product fees to pay, it permits overpayments and it offers free valuation as an additional incentive, and it’s available to both purchasers and remortgage customers.
• Molo Finance has several deals available in this sector, with offers varying according to the term, buyer profile and fee structure. The option that leads the way on our chart is the five-year fixed rate offer priced at 3.29% (4.3% APRC), which reverts to 4.41% variable after the initial term. It has a fee of £1,750 and is available to house purchase customers only – though alternative deals are on offer for remortgagors – and it permits overpayments. You can find out more and apply online by heading to the provider’s site.
• Accord Mortgages also has a number of options available in this space, most notably the 3.30% (4.3% APRC) remortgage deal that’s fixed to 31 May 2026 before reverting to 4.49% variable. It has a fee of £1,995 and permits overpayments, and it also boasts a generous incentive package of free valuation and legal fees as well as £250 cashback.
How will the new tax year impact your personal savings allowance?
Although no changes were made to the personal savings allowance (PSA) threshold during the spring budget last month, savers with high deposits still need to ensure that when the new tax year starts, they do not fall foul of the taxman. Here, we take a closer look at the PSA to learn how much savers can stash away before they’ll pay any tax on the interest earned, with it all depending on your taxpayer status. Find out more about how savings are taxed, or read on for a more focused look at the PSA.
The best lifetime mortgage rates available during March 2021
Homeowners over the age of 55 who are looking to release equity from their home without needing to downsize may want to consider a lifetime mortgage. Over the last few years the lifetime mortgage market has become much more competitive, which has seen rates fall and more flexibility offered in products. This overview showcases the best options currently available, though while many lifetime mortgage plans have become more attractive, those considering this option should still be aware of the long-term impact it can have on their finances – make sure that it’s worthwhile by using an equity release calculator, and by speaking to our preferred equity release broker, HUB Financial Solutions, on 0808 239 8485.
Would you be better off with a stocks & shares or cash ISA?
Whether savers are hoping to get in over the line this tax year or are looking to get 2021/22 off to a flying start, many will be looking for ways to use up their £20,000 tax-free allowance. Yet knowing where to put it isn’t always easy. Many will automatically look to the cash savings market, but given that there hasn’t been much in the way of an ISA season this year – few providers have increased rates or launched chart-topping products, which means average cash ISA rates have remained woefully low. As such, savers may be considering alternative options, one of which could be stocks & shares ISAs. Given that average stocks & shares ISA performance has bounced back over the last year, now could be a great time to consider this form of investment, so read on to see if it could be right for you.
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Tax-free flexible saving with a Foresters Friendly Stocks & Shares ISA
A Foresters Friendly Society Stocks & Shares ISA has flexible savings options to help you save for your future and offers potential growth thanks to the possibility of bonuses. You can choose to save regularly from £50 per month, invest a lump sum of at least £500 or use a combination of both options. Transfers in are also accepted.
Plus, policyholders gain access to a range of unique member benefits, including educational awards and discretionary healthcare grants – in 2019 Foresters paid over £1.6m in discretionary grants to their members. Established for over 185 years with more than 70,000 members, Foresters is recommended by 89% of reviewers (reviews.co.uk March 2021), was shortlisted for the Insurance Company of the Year and Investment Strategy of the Year at the Insurance Asset Management Awards 2020 and named as Best Small Insurer at the Insurance Investment Exchange Awards 2019.
Capital at risk. Bonuses are not guaranteed. Membership benefits are not regulated.
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