Moneyfactscompare.co.uk has highlighted several banking deals this week, including offers from Barclays and First Direct that pay customers up to £250 and £200 respectively. Personal finance analyst Caitlyn Eastell reviewed a range of products from mortgages to savings and current accounts.
For savings, the Vanquis Bank 1-Year Fixed Rate Cash ISA was named a 'Best Buy' with a rate of 4.66% AER. Savers must deposit at least £1,000, and those using their full £20,000 allowance could earn over £900 in interest over one year. The account allows further additions for 30 days via a nominated account, but early access incurs an interest penalty.
In mortgages, Barclays' two-year variable tracker at 60% loan-to-value was rated 'Outstanding'. Priced at 4.06% with a £999 product fee, it offers free valuation for all borrowers and £250 cashback or free legal fees for remortgage customers. For buy-to-let, Leeds Building Society's five-year fixed rate at 60% loan-to-value was also rated 'Outstanding', with a rate of 4.67% until August 31, 2031, and a £1,499 fee offset by free valuation and remortgage cost assistance.
First Direct's 1st Account offers a £200 switching incentive via the Current Account Switch Service. The account has no monthly fees, a £250 interest-free overdraft buffer (39.90% EAR beyond), and a linked 12-month regular saver. The HSBC Purchase Plus Credit Card Visa now offers a 24-month 0% purchase term, one of the longest on the market.
