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Signs savings market is starting to stabilise but experts warn that rates may not continue to rise
Derin Clark

Derin Clark

Online Reporter
Published: 17/05/2021

It has taken 14 months since the pandemic began impacting the UK economy and the Bank of England cut base rate to a historic low of 0.1%, but there are signs that the savings market is starting to stabilise.

New data, which is due to be published in the Moneyfacts UK Savings Trends Treasury Report, has found that the number of savings products, including ISAs, available to consumers has increased for the first time since October 2020 with 1,406 available in May. Despite the increase, this is still lower than the number of savings accounts and ISAs available in October 2020, when there were 1,531 savings products in the charts.

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How to get a self-employed mortgage

Someone who is self-employed will often find it tough to get accepted for a mortgage during normal times, but in the current economic climate with mortgage providers becoming more cautious about lending, some may be wondering whether to even try in the first place. While many who are self-employed may find it challenging to get a mortgage at the moment, lenders are still accepting applications from those who are self-employed. As such, those who are looking to move or buy their first home who are self-employed should still go ahead with their mortgage application.

To help make the process easier, we’ve looked at how to get a mortgage as a self-employed person.

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The best residential mortgage rates 14.05.21

Homeowners looking to remortgage can now get a fixed rate deal offering a rate lower than 1%. As well as this, across all the mortgage charts rates continue to be highly competitive, with all the lowest rates currently available in the charts highlighted below.

When looking for a new mortgage deal, borrowers should keep in mind that the lowest rate may not be the best deal for them. Instead, borrowers should consider all aspects of the deal, including product fees and incentives, to ensure that they choose the right deal for their individual financial situation and requirements. Borrowers who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.

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The best savings rates this week 14.05.21

Savers looking for the top rates will be pleased to see that new, higher rates, are now topping some of the charts. The notice account chart has particularly seen a number of new rates, with a new rate topping the chart overall. Savers looking to open these accounts are urged to act quickly as many providers are finding that their top-rate accounts are quickly reaching maximum funding levels resulting in them having to withdraw or reduce the rates being offered.

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The best ISA rates this week 13.05.21

Although there has been little change at the top of the ISA charts this week, savers will note that a new, slightly higher rate is now available at the top of the one year fixed ISA chart. As well as this, competition within the easy access ISA chart has increased this week, with two providers now offering the second-best rate of 0.41% AER.

Savers should note that the rates below are the best rates available at 12pm on Thursday 13 May 2021 and, although correct at the time of publishing, providers may reduce or withdraw rates at any time. As well as this, the rates highlighted are only those available to new customers, and as such there may be higher rates on ISAs available to existing customers only – to compare these ISAs, visit our ISA charts and, using the refine button, filter the results to show ISAs only available to existing customers.

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Are HMOs a good option for first-time landlords?

13th May 2021

When considering a buy-to-let (BTL) investment, one of the main factors that will impact the decision is the expected rental yield

When considering a buy-to-let (BTL) investment, one of the main factors that will impact the decision is the expected rental yield

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Moneyfacts Weekly Product News – 13.05.21

13th May 2021

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market

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Daily value of secured loans agreed increases in April 2021

12th May 2021

Exclusive data from Loans Warehouse has revealed the daily value of secured loans completed in April 2021 has increased by just over 5% compared to the prior month. Secured lending totalled £77.6m during the month.

Exclusive data from Loans Warehouse has revealed the daily value of secured loans completed in April 2021

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How to get back onto the roads safely after lockdown

12th May 2021

As lockdown restrictions continue to ease, a lot of drivers will be taking to the roads after months of staying at home

As lockdown restrictions continue to ease, a lot of drivers will be taking to the roads after months of staying at home

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Two and five year mortgage rates hit historic lows

11th May 2020

Although the number of mortgage deals have almost halved since March, the average mortgage rates on two and five-year fixed deals have hit historic lows

Although the number of mortgage deals have almost halved since March, the average mortgage rates on two and five-year fixed deals have hit historic lows

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What are the best ISA investment funds in April 2021?

29th April 2021

This is a summary of the best performing investment ISAs in April 2021.

This is a summary of the best performing investment ISAs in April 2021.

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The best ISA rates this week 06.05.21

6th May 2021

Savers looking to open a new ISA will find that there has not been a lot of movement at the top of the ISA charts this week. As such, all of last week’s top rates have remained available this week

Savers looking to open a new ISA will find that there has not been a lot of movement at the top of the ISA charts this week. As such, all of last week’s top rates have remained available this week

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The best savings rates this week 07.05.21

7th May 2021

Savers looking for high interest savings accounts will have to look towards the fixed rate bond chart, which offers the best UK savings rates overall this week

Savers looking for high interest savings accounts will have to look towards the fixed rate bond chart, which offers the best UK savings rates overall this week

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Our Team of Specialists

Michelle Monck
Consumer Finance Expert
Derin Clark
Online Reporter
Rachel Thrussell
Savings Analytics Manager
Darren Cook
Mortgage Analytics Manager
Rachel Springall
Finance Expert & Press Officer
Finance Expert & Press Officer
Sarah Brooks
Sub-Editor

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