Product Spotlight: Easy access savings accounts
Easy access accounts offer ultimate flexibility, mostly giving you quick and easy access to your funds whenever you need. Here are the top deals currently available.
ICICI Bank UK currently pays the top rate of 0.75% AER on a monthly basis from a minimum investment of just £1, though in January the rate will drop to 0.60% AER, and savers need a linked current account to qualify. Aldermore could therefore be a good alternative, with its online-operated Double Access Account Issue 1 paying 0.60% AER on its anniversary, provided only two withdrawals are made per year.
Investec Bank’s Online Flexi Saver, meanwhile, pays 0.55% monthly from a minimum of £5,000, with no restrictions on withdrawals and no linked accounts required. Or, if you’re willing to look beyond traditional savings accounts, there could be another alternative – the new Chip+1 account allows savers to unlock a bonus of 1.25% on savings of up to £5,000, making it the highest-paying return in the easy access market. You can find out more here.
Product Spotlight: Best two-year BTL mortgages
Are you a landlord looking to fix your repayments for the next two years? Here are the top two-year buy-to-let mortgage deals available.
The Mortgage Works easily tops the charts in this space with several low-rate deals available, including the market-leading rate of 1.19% fixed to 31 March 2023 (4.5% APRC), before reverting to 4.74% variable. It’s available at up to 65% loan-to-value (LTV) and has an arrangement fee of 2.00% of the amount advanced.
Santander comes out top among high street lenders, with a rate of 1.40% that’s fixed to 2 April 2023 (3.2% APRC) before reverting to 3.35% variable. Its generous incentive package somewhat offsets the fee of £1,499, too. Alternatively, Halifax offers the same rate of 1.40% fixed to 28 February 2023 (4.2% APRC), which then reverts to 4.44% variable. It’s available at up to 60% LTV and the fee is £1,495.
Top banks for savers in 2021
A combination of Bank of England base rate cuts, a new funding for lending scheme and ongoing economic uncertainty has resulted in saving rates falling to historic lows during 2020. It’s certainly been a disappointing year for many savers, but it’s hoped that 2021 will see some signs of recovery. Here we have highlighted some of the banks that savers should watch in 2021 – and it’s the up and coming challengers that appear to be your best bet for savings returns.
What you need to know about investing in property
In an attempt to earn better returns on their savings next year, some consumers may be considering investments. Anyone doing so should remember the risks involved – returns are not guaranteed, and it’s possible to lose all or part of the initial deposit – but, for those seeking a long-term investment, they may want to look at property.
Here, we’ve looked at what you need to know if you are thinking about investing in property in 2021; buy-to-let looks to offer a particularly intriguing opportunity for the year ahead, or for those who don’t want to deal with physical bricks and mortar, investing through a real estate investment trust (REIT) could be a possibility.
Are cash gifts at Christmas taxable?
Christmas is the perfect time of year to give family members a cash gift, but generous givers should be aware that some cash gifts are potentially taxable. To help make the tax surrounding cash gifts easier to understand, we’ve looked at what tax needs to be paid when giving different amounts to a child or grandchild this Christmas, and offer a few alternatives for those worried about a potential tax charge.
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