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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.
MCI Mortgage Club adds United Trust Bank to lender panel
By Roger Baird 11
MCI Mortgage Club has added specialist lender United Trust Bank to its panel.
United Trust Bank lends on first and second charge mortgages up to £500,000 and will consider non-prime customers and non-standard construction property types.
The bank has flexible criteria for both employed and self-employed clients and does not credit score.
Last August, the lender launched a Secure Chat Hub app for brokers and customers to communicate securely with the bank during mortgage applications.
The app runs complete security checks using facial recognition for ID verification, it can upload documents and accepts e-signatures.
Shawbrook Bank continued to dominate the fixed rate ISA charts this week, paying the top rate in the seven, five, and three-year fixed ISA charts. Its 7 Year Fixed Rate Cash ISA Bond Issue 3 pays 1.25% gross, while its 5 Year Fixed Rate Cash ISA Bond Issue 25 pays 1.10% gross and its 3 Year Fixed Rate Cash ISA Bond Issue 26 pays 0.71% gross. All these ISAs pay interest on anniversary and require a £1,000 minimum deposit to open. They allow earlier access subject to 270 days’ loss of interest on the three-year option or 360 days’ loss on the five and seven-year options. Transfers in are accepted. Transfers out are permitted and are subject to the same loss of interest penalties as earlier access. All ISAs must be opened online but can then be managed online and by phone. There are also versions of these ISAs that pay interest monthly at the same gross rate on the three-year option and at lower gross rates of 1.09% on the five-year option and 1.24% on the seven-year option.
Shawbrook Bank dominated the ISA charts this week, not only offering the top rate overall, but also the highest rate in the five and three-year charts. Its 7 Year Fixed Rate Cash ISA Bond Issue 3 had the top rate of 1.25% gross, while its 5 Year Fixed Rate Cash ISA Bond Issue 25 topped the five-year chart paying 1.10% gross and its 3 Year Fixed Rate Cash ISA Bond Issue 26 topped the three-year chart paying 0.71% gross. All ISAs pay interest on anniversary and require a £1,000 minimum deposit to open. They allow earlier access subject to 270 days’ loss of interest on the three-year option and 360 days’ loss of interest on the five and seven-year options. They accept transfers in. These ISAs must be opened online but can then be managed online and by phone. There are also versions of these ISAs that pay interest monthly at the same gross rate on the three-year version, and slightly lower gross rates of 1.09% on the five-year option and 1.24% on the seven-year version.
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