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This week saw a number of highly competitive savings accounts have rates cut, most noticeable NS&I cut a range of its saving rates, which was first announced in September. As well as this, Saga reduced the rate on its easy access savings account this week. Meanwhile, rates also fell in the fixed rate bond and notice charts during the week.

Lifetime mortgage rates have been falling over the past years, making the deals far more competitive. As such, borrowers considering releasing equity from their homes have many more plans to choose from. Although speaking to an equity release broker can help borrowers to choose the right product for their individual circumstances (and some products may only be available from an independent equity release adviser), below we’ve highlighted a selection of the lowest rates available on lifetime mortgages that allow drawdown.

It should be noted that the plans we’ve highlighted are not endorsed by Moneyfacts.co.uk, but have instead been chosen because they offer the lowest rates listed by Moneyfacts for the scenario that we have selected. For more information about equity release, take a look at our equity release FAQs page.

With the current economic uncertainty, borrowers with a high amount of outstanding personal debts will likely be looking for ways to reduce their repayments and make the debts more manageable. For many, consolidating debt into a loan provides an easy and efficient way of managing the debt and can also reduce the monthly repayments.

Although a personal loan is often the most common way for borrowers to reduce debt, for those with a significant amount of outstanding debt, a secured loan might be an option.

The top ISA rate available in the charts this week continues to be offered on a seven year fixed rate ISA, which pays 1.25% AER. Savers looking for an easy access ISA will be disappointed to see that Paragon Bank’s chart-topping ISA from last week has been withdrawn, resulting in a new, lower rate now topping this chart. Meanwhile, in the notice ISA chart, last week’s top rate of 1.00% AER is no longer available, and two providers now offer the new top rate of 0.75% AER.

It should be noted that the rates below are the best rates available at 12pm on Thursday 26 November 2020 and, although correct at the time of publishing, they may not be available after this time.