Money To The Masses

Deals of the Week

Damien — Tue, 04 Feb 2025 00:01:41 +0000

This week's top deals

Here you'll find our top picks of the best deals of the week. The below deals are updated daily so be sure to bookmark this page and check back.

Have a great deal we should know about?

Let the team know at deals@moneytothemasses.com

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Free LEGO^® Botanical Heart

If you visit your local LEGO^® Store on Saturday 8th or Sunday 9th February, you can build a LEGO^® Botancial Heart and take it home with you for free.

The offer is available from 10:00 to 12:00 on 8th February and 12:00 to 14:00 on 9th February.

For more information and to find your nearest participating LEGO^® Store, visit the LEGO^® website.

Catch: Limited quantity available each day on a first come, first served basis, so be quick!

Expiry: Only available from 10:00 to 12:00 on 8th February and 12:00 to 14:00 on 9th February

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

Get £15 cashback when you spend £15+ with TopCashback

Choose from 1000s of brands (excluding takeaways) across categories such as electricals, groceries, utilities, travel and more to start saving today

Save money with the UK's leading cashback site
Members can earn over £300 per year shopping across TopCashback

Provided by our partner

2-for-1 Cocktails all-day at PizzaExpress

You can now get one free cocktail when you buy another of the same full-price cocktail while dining in at a participating PizzaExpress restaurant in England or Wales. The offer is available all day, every day with no additional or minimum spend required.

To get the offer, simply ask a member of staff to apply it to the bill for you.

For full T&Cs, including information on which restaurants are excluded from the deal, visit the PizzaExpress website.

Catch: PizzaExpress restaurants across England and Wales only, with some exclusions

Expiry: Ongoing until offer withdrawn

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: No

Free Valentine's card from Moonpig

Want to send someone a Valentine's card? Well you can for just the cost of postage with Moonpig. Choose from a selection of designs, select the standard size card and personalise it with your message. Then at checkout enter the code VC41W187 and you not be charged for the card, you will just need to pay £1.65 for postage. You can choose to have the card delivered directly to your recipient or to yourself to give to them in person.

To see what designs are available with this deal visit Moonpig's website.

Catch: No catch

Expiry: 9th February

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: Yes

Lunch for £1 for over 60's at Asda

Asda have brought back their "Winter Warmer" initiative where the over 60's can get a bowl of soup, a bread roll with butter and unlimited hot drinks for just £1 in their cafes.

You can choose between Tomato, Chicken or Vegetable soup with tea or Americano coffee. If you'd prefer a premium hot drink you can upgrade for 55p.

This offer runs alongside the Kids eat for £1 deal and is available in their 205 cafes.

If you look under 60 you may be asked to prove your age.

Catch: No catch

Expiry: 28th February

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: For online groceries only

£10 off when you spend £50 at Hobbycraft

You can now get £10 off when you spend £50 or more at Hobbycraft online.

To get the £10 discount, you will need to spend a minimum of £50 on the Hobbycraft website or the Hobbycraft app and then enter the code: HTEN into the discount code box in your basket.

For full T&Cs and to start shopping, head to the Hobbycraft website.

Catch: Online only

Expiry: 5th February

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: No

Free WWT Wetland Centre tickets

To celebrate World Wetlands Day on Sunday 2nd February, the WWT (Wildfowl & Wetlands Trust) is giving away free tickets so you can visit a Wetland Centre between Friday 31st January and Friday 7th February.

To claim your free ticket, simply head to the WWT website, enter your details and select which Wetland Centre you'd like to visit. You'll then receive an email with a barcode that you can show on entry at your selected Wetland Centre on the day of your visit.

There is a limited number of free tickets, so be quick! At time of writing, there was availability for the following centres: Arundel, Caerlaverock, Castle Espie, Llanelli, London, Martin Mere, Slimbridge, and Welney. Please note that WWT Steart Marshes is free to enter so this offer is not required.

Only one free ticket per email address, so if you plan to visit with others, they will need to claim their own free tickets separately. For more information and full T&Cs, visit the WWT website.

Catch: Limited number of free tickets, so be quick!

Expiry: When all free tickets claimed or 7th February, whichever soonest

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

Instant Cashback and Discounts

Get up to 20% instant cashback on your purchases when you shop with hundreds of retailers through the JamDoughnut app - online or in-store.

MTTM readers will receive £5 (500 points) first time purchase bonus.
Use referral code MTTM to receive your bonus

Get the app*

Free cinema tickets to see "The Sloth Lane"

On Sunday 9th February, you can go to the cinema to see the animated film, "The Sloth Lane" for FREE. This deal allows you to book 2 adult and 3 child tickets at selected cinemas.

Book your ticket for your local screening by visiting the Escapes Cinema website. Be quick as some venues have already sold out.

Catch: May not be a participating cinema near you

Expiry: 9th February

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

4-piece Smiggle bundle (rucksack, water bottle, pencil case and lunchbox) for just £20

Smiggle currently has huge reductions across its website, including a Giggle by Smiggle bundle for just £20. In the bundle you get a rucksack, water bottle, pencil case and lunchbox which normally retail at £50! There are 5 designs to choose from and delivery is £4.99 unless you spend £50 or more and then it is free.

Catch: Have to pay for delivery

Expiry: While stocks last

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

Free Eden Project tickets

You can get two free day entry tickets to the Eden Project when you buy a National Lottery ticket and visit between 15th and 23rd March.

To get your free pair of tickets, you will need to pre-book your tickets on the Eden Project website and then on the day of your visit, show your pre-booked entry tickets along with any National Lottery ticket (digital or physical) to ticketing staff.

The offer is valid for entry between 15th and 23rd March. Tickets are limited so pre-booking is essential.

For more information, full T&Cs and to start booking your tickets, visit the Eden Project website.

Catch: Must purchase a National Lottery ticket

Expiry: 23rd March

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

Instant Cashback and Discounts

Get up to 20% instant cashback on your purchases when you shop with hundreds of retailers through the JamDoughnut app - online or in-store.

MTTM readers will receive £5 (500 points) first time purchase bonus.
Use referral code MTTM to receive your bonus

Get the app*

Up to 50% off school uniform at John Lewis

The John Lewis sale is now on with up to 50% off selected products across all departments.

Included amongst the many offers is school uniform, so if you are looking for some new items for your child, or they are quickly outgrowing their current uniform, now is a good time to buy it!

You can get a pack of two boys' school trousers for as little as £5.50 (RRP £11), a pack of two school cardigans for £7.50 (RRP £15), a pack of two school jumpers for £6.50 (RRP £13), a pack of three shirts for £5 (RRP £10), a pack of five pairs of knee high school socks for £1.50 (RRP £6), a pack of three cotton rich tights for £3 (RRP £11), a school skirt for £3.50 (RRP £7), plus many more!

They even have school shoes included in the offer, such as Clarks Kids' Scrape Sky leather school shoes, reduced from £48 down to £24 and Start-Rite Simply by Kids' Classroom leather school shoes, reduced from £36 down to £18. When we looked, there were many sizes still available.

To start shopping and to see what's included in the offer, visit your nearest John Lewis store or head to the John Lewis website.

Catch: Minimum spend of £50 for free home delivery and minimum spend of £30 for free click & collect

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: Yes

2 Zinger burgers, 2 Hot Wings and 2 regular drinks for £5.99 at KFC

If you're not on a New Year Diet then this is a great deal from KFC. The Zinger Zinger deal consists of 2 Zinger burgers, 2 Hot Wings and 2 regular drinks for just £5.99. A Zinger burger normally retails at £5.99 so this is a great saving.

The deal is available for collection or in-store. For more information visit the KFC website.

Catch: Not available for delivery

Expiry: 6th February

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

10 frozen items for £10 at Iceland

Do you need to stock up your freezer? The 10 for £10 "Easy Teas" deal is back! This is a great value deal where you can save up to £15.

Included this time round are Birds Eye Crispy Chicken Dippers (usually £2.50), Birds Eye Potato Alphabites (usually £2.50), Chicago Town Cheese and Tomato Subs Pizza (usually £1.75) and Fry's Family Food Co 2 Plant Based Katsu Chicken-Style Fillets (usually £3.00). To see the full range visit Iceland's website.

The deal is only available online but you can qualify for free delivery if you spend £40 and if you are a new customer and spend £45 you can save a further £5 by entering the code ICEFIVEOFF.

Catch: Minimum spend of £25 required for online Iceland shop

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes but only in-store (so not with this deal unfortunately)

Cashback available with TopCashback*: Yes

Instant Cashback and Discounts

Get up to 20% instant cashback on your purchases when you shop with hundreds of retailers through the JamDoughnut app - online or in-store.

MTTM readers will receive £5 (500 points) first time purchase bonus.
Use referral code MTTM to receive your bonus

Get the app*

10 for £10 kids picture book bundles at The Works

Get 10 children's picture books for just £10 by buying a picture book bundle from The Works.

There are 12 different bundles included in the offer, with an RRP ranging between £59.90 - £83.90. Bundle options include Christmas Magic (set of 10), Bluey (set of 10), Little Princess (set of 10) and more.

Head to The Works website to see which bundles are included in the offer and to start shopping.

Free standard delivery on orders over £30, otherwise it's £3.99.

Catch: May have to pay delivery

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: Yes

Earn cashback with JamDoughnut

JamDoughnut* is a smartphone app that allows you to buy digital gift cards and vouchers at lots of popular UK retailers, rewarding you with points that can be converted into instant cashback.

It's a great way to quickly earn cashback while doing your shopping and you can often get 'pumped up' higher rates of cashback with selected retailers. At the time of writing there were 178 active offers on the app, including: Costa (7.5% cashback), Adidas (9% cashback), Nando's (6% cashback), Virgin Experience (15% cashback), Nike (4% cashback), plus many more!

If you don't already have it, simply download the JamDoughnut app* to start earning your cashback. In addition, Money to the Masses readers can get a £5 first-time purchase bonus* by using the code 'MTTM'.

If you want to find out more about JamDoughnut, read our JamDoughnut review article where we explain how the JamDoughnut cashback app works and which retailers are supported.

Catch: No catch

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes

2-course meal for 2 adults and 2 children for £32.99 at Toby Carvery

We all know how expensive it is to eat out, well Groupon have a great deal where you can buy a voucher for Toby Carvery and get up to 45% off the cost of your meal. There are 3 options available, a 2-course meal for 2 people for £22.99, a 2-course meal for 2 people and 1 child for £27.99 or a 2-course meal for 2 adults and 2 children for £32.99.

Your 2 courses can be either a starter and a main or a main and a dessert and the voucher is valid until 7th March 2025. Multiple vouchers can be used per table for a maximum of 6 guests and they are valid Monday-Saturday excluding Bank Holidays and key dates such as Valentine's Day, Christmas Day and New Year's Eve.

For more information and to see the menu visit Groupon.

Catch: No catch

Expiry: 7th March 2025

Cashback available with JamDoughnut*: No (although it is available when spending money directly with Toby Carvery)

Cashback available with TopCashback*: Yes (you can earn cashback when you make an online table booking)

Instant Cashback and Discounts

Get up to 20% instant cashback on your purchases when you shop with hundreds of retailers through the JamDoughnut app - online or in-store.

MTTM readers will receive £5 (500 points) first time purchase bonus.
Use referral code MTTM to receive your bonus

Get the app*

3-course meal for 2 adults and 2 children for £50 at Harvester

Groupon are currently offering a great value deal for Harvester. You have the choice of the following:

2 courses for 2 adults for £35 or 3 courses for £40
2 course for 2 adults and 1 child for £40 or 3 courses for £45
2 courses for 2 adults and 2 children for £45 or 3 courses for £50

and of course the bottomless salad is included.

You can buy your voucher now and it is valid from 14th October until 7th March 2025. You can use the voucher every day except Saturdays, Bank Holidays and "key dates" such as Valentine's Day, Christmas Eve and New Year's Eve. You must present your voucher to your server before ordering and multiple vouchers can be used per table, however the maximum party size is 6 people.

To see the options available from the menu and for the full terms and conditions visit the Groupon website.

Catch: No catch

Expiry: 7th March 2025

Cashback available with JamDoughnut*: No (although it is available when spending money directly with Harvester)

Cashback available with TopCashback*: Yes (you can earn cashback when you make an online table booking)

4 cocktails and 2 tapas for £28 at Las Iguanas

Las Iguanas have a fantastic offer where you can buy 4 cocktails and 2 tapas for £28 (£27 in Scotland) per person.

The deal is known as the "Chica's Cocktail Club" and how it works is you select 2 cocktails from a wide range including Mojitos and Caipirinhas and you will get 2 of each cocktail (so 2 for 1), then order 2 tapas from a selection of dishes such as Nachos, Patatas Bravas and chicken wings. If you don't like cocktails there is the option to have 4 bottles of Corona or Corona Cero and for an extra £5 you can add any dessert (except Churros Grande).

To see the full menu and how to book, visit the Las Iguanas website.

Catch: Very limited Vegan options

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: No

10% off baby grows for a year at M&S plus free cake

Expecting and new parents can sign up to the new baby club, "The parent hood" at M&S. Members will receive 10% off baby grows for a year and when they purchase a hot drink at the parent and baby mornings at M&S cafés they will receive a free slice of cake, pastry or fruit pot. The mornings run every Tuesday at over 200 M&S cafés. Members will also receive rewards throughout the year.

It is free to join but you must be a Sparks card holder, for more information visit the M&S website.

Catch: Only open to expecting parents and those with babies up to 2 years old

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: Yes for online purchases

Free gardening workshops for children at Dobbies

Selected Dobbies garden centres are hosting free gardening workshops for children aged 4-10, every first Sunday of the month.

Those attending become members of the Little Seedlings Club and the workshops consist of activities and games that teach children about wildlife, plants and the environment. Each attendee will also be given a welcome pack with stickers and those that attend regularly will earn themselves certificates.

Advance booking is required with spaces booked quickly so make sure you book early to avoid disappointment!

For more information and to start booking, head to the Dobbies website.

Catch: May not be a participating Dobbies near you

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

£3 meal at IKEA restaurants every weekday

Every weekday, IKEA Family Members can get a meal at IKEA restaurants for just £3. There is a different dish of the day on offer for £3 each weekday and the selected meals will be updated quarterly.

At the time of writing, dishes included: 8 piece meatball meal on Mondays, veggie meatballs on Tuesdays, salmon fillet on Wednesdays, plant balls on Thursdays and fish and chips on Fridays.

This offer is available in IKEA restaurants, Monday-Friday, 11am-5pm but does not apply to IKEA Hammersmith or Aberdeen.

For everything that is included and the full terms and conditions visit the IKEA website.

Catch: Must have IKEA Family membership (free to join)

Expiry: 31st August 2025

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: No

Blue Light Card now available for teachers

Teachers and supporting staff are now able to sign up to the Blue Light discount card. The card gives you discount online and in-store at popular retailers in the UK. Examples of companies that are part of the scheme are Asda, Deliveroo and Costa Coffee.

The card is £4.99 for 2 years and you can register online by visiting the Blue Light Card website. Those who work in State early years, primary, secondary and sixth form, as well as special schools, vocational schools, referall units and centrally employed are eligible. You will need to upload official work ID or a payslip that includes your name or school unless you work at a primary school where your work email will instantly verify you. You can find more information in our article 'Teachers can now access ‘Blue Light Card’ rewards – How to sign up'.

Catch: No catch

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

Feed the family for under £16 at Sizzling Pubs

If you eat at a Sizzling Pub on a weekday after 3pm you can feed a family of 2 adults and 2 children for under £16.

To get the deal, purchase two adult mains from £11.50 and then you can enjoy 1 kids' main meal for £1 with the purchase of every 1 adult main meal. Prices vary by pub so check with your local Sizzling Pub.

Visit the Sizzling Pubs website to read the full terms of the deal as well as find your nearest Sizzling Pub.

Catch: Monday to Friday from 3pm only

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: Yes (you can earn cashback when you make an online table booking)

Instant Cashback and Discounts

Get up to 20% instant cashback on your purchases when you shop with hundreds of retailers through the JamDoughnut app - online or in-store.

MTTM readers will receive £5 (500 points) first time purchase bonus.
Use referral code MTTM to receive your bonus

Get the app*

2 Odeon cinema tickets for £10 for Amazon Prime members

If you are an Amazon Prime member, you can get 2 standard tickets for Odeon cinemas for £10 or 2 recliner tickets for Odeon Luxe cinemas for £15. This offer is available from Monday to Thursday and you can redeem it once a month. The price includes the booking fee.

Redeem the offer here and you will see a discount code at the top of the page (make sure you are signed into your Amazon Prime account), you then have 30 minutes to visit the Odeon website to book your tickets. If the code expires before you book your seats you can go back to your Amazon Prime account to generate a new one.

Catch: Offer cannot be used Friday - Sunday

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: Not for this deal but you can earn cashback if you sign up to Odeon myLimitless

Free cinema tickets for Sky Cinema customers

Sky are now giving Sky Cinema customers the opportunity to claim two free tickets every month for Vue cinemas.

To claim the tickets you need to go to your MySky App and generate a code which you can then use to book your seats online at Vue. It is also possible to generate a QR code that you can take into a Vue cinema to purchase your tickets in person. Once you have the codes you have until the end of that calendar month to use them.

The tickets can be used for standard screenings at any time from Sunday to Thursday and more information can be found at Sky.

The Catch: There is a weekly limit of codes available and codes are issued on a first come first served basis.

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: Not for this deal but you can earn cashback for selected Sky TV and broadband packages

£5 Free Voucher to Spend At Yo! Sushi

Yo! Sushi is offering anyone who hasn't signed up for the 'Yo! Love Club' a £5 voucher to use at their restaurants.

Once you sign up, you'll be given a code to get £5 off your bill, which can be used on click & collect orders or dine in.

This drops the price of the dish Chicken Katsu down to 50p - but there are plenty of other options.

To get the deal, head over to the Yo! Sushi page.

The Catch: Must be a new subscriber

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

£10 Voucher To Spend At Argos

Argos has just launched an offer giving you a £10 voucher to spend online, when you sign up to their marketing emails.

Once you've added your email address, you'll be sent a code to use, which gets you £10 off a £60+ spend.

For full details, head to the Argos website.

The Catch: Must spend £60 or more

Expiry: 27th March

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: Yes

FREE Doughnut At Krispy Kreme

Krispy Kreme (arguably the king of doughnuts) are giving away free original glazed doughnuts if you sign up for its reward scheme.

It's free to register and you can claim from either a Krispy Kreme store via your phone, or a Tesco counter by printing the voucher.

For full information, and to sign up, see Krispy Kreme Rewards.

The Catch: Not many Krispy Kreme stores around the country & need to print a coupon for Tesco

Expiry: Ongoing

Cashback available with JamDoughnut*: No

Cashback available with TopCashback*: No

£5 Off £30 Spend At B&Q

B&Q are giving everyone who signs up to its B&Q Club a £5 voucher - when you spend £30.

To claim, you'll need to sign up with your email address and create a password. There is no physical card needed, and you'll be emailed the voucher shortly after signing up.

You can use it both in store and online, but will need to scan it from your phone if shopping in store.

For full information, and to sign up, see £5 off B&Q.

The Catch: You'll be added to B&Q's email list

Expiry: Ongoing

Cashback available with JamDoughnut*: Yes

Cashback available with TopCashback*: Yes

If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - JamDoughnut, TopCashback

Chatterbox – February 2025

Damien — Mon, 03 Feb 2025 17:06:11 +0000

The place to talk about investing, what’s in your portfolio or ask questions via the comments section below.

Which is the best performing stocks and shares ISA?

Damien — Mon, 03 Feb 2025 14:27:00 +0000

If you want to put some of your cash into a Stocks & Shares ISA, you still might be unsure which provider to choose. It can be a bit of a minefield as there’s a lot of choice out there.

This article compares the performance of the best fully-managed Stocks & Shares ISAs from Moneyfarm*, Nutmeg, Wealthify and Vanguard. In this article, we primarily focus on the returns over the last five years for which we provide an easy-to-read summary table below. However, we do also look at performance over longer time frames, where a product has a sufficient track record to allow us to do so, throughout this article. But do bear in mind that past performance is not a guide to future returns.

1 minute summary - Which is the best performing stocks and shares ISA?

The ISA allowance for the current tax year (2024/25) is £20,000
There are different types of stocks & shares ISA depending on how involved you want to be in choosing and managing your investments
You can choose between a true DIY ISA, a part-managed ISA or a fully-managed ISA where the investment management is done on your behalf
This article focuses on fully-managed ISAs so that we can compare past performance
We've compared the performance of Moneyfarm*, Nutmeg, Wealthify and Vanguard for 2024, 2023, 2022, 2021 and 2020 calendar years
We also explain why those looking at Vanguard may want to consider Interactive Investor* if they have more than £96,000 to invest

What is a Stocks & Shares ISA?

A stocks & shares ISA is a type of savings vehicle that allows you to invest in funds or stocks while protecting any investment returns you make within the tax wrapper meaning you don’t pay capital gains tax or income tax on any profits or income earned. The ISA allowance for the current tax year (ending on 5th April 2025) is £20,000.

There are different types of Stocks and Shares ISA available depending on how involved you want to be in the investment selection and management, and these will each come with different charges. You can choose a true DIY ISA, a part-managed ISA or a fully-managed one where the investment management is done for you, but you will pay higher fee for this. This article focuses on fully-managed ISAs so that we can compare performance. For more information on the different types of ISA available, read our article ‘Where should you invest you ISA allowance?'

You can transfer money held in other types of ISA (a Cash ISA, for example) into a Stocks & Shares ISA and it won’t count towards your annual ISA allowance as long as you paid into the existing ISA during a previous tax year. You can find more details on this in our article ‘ISA transfers explained‘.

For a more general discussion on whether a Stocks & Shares ISA is worth holding, read our article ‘Are stocks and Shares ISA's worth it?‘

12 months Fee-Free Investing

Open an ISA, Junior ISA, Pension or General Investment Account with Moneyfarm and...

Pay no management fee for 12 months
Minimum investment of £500
New customers only. UK residents, 18+
T&Cs apply. Capital at risk.

Provided by our partner

Find out more*

Managed Stocks and Shares ISA performance – 5 year comparison table

Below, we rank the best-performing Stocks and Shares ISA portfolios that are fully-managed. The table is ranked by the annualised return (after fees are taken) over the last 5 calendar years. Bear in mind that investing comes with risk and markets can move quickly, as has played out in recent years, so there is no guarantee that the top performers over the last five years will remain so in years to come. Plus, the risk level of the portfolio you choose will depend on how much focus there is on protecting your capital from losses rather than making as much as possible in rising markets. The greater the portfolio's stated exposure to equities the greater the level of investment risk being taken. With equities performing particularly well in 2024, you can see from the table below that the portfolios with a larger equity exposure have performed slightly better overall. When looking at the performance data, however, don't just focus on the annualised 5-year return. Look at how the portfolios have performed in each calendar year including 2022 when equity and bond markets tumbled. Additionally, it is worth noting that while 2023's performance numbers may look impressive, only the Wealthify Adventurous and Wealthify Ambitious Portfolios recouped all of the losses from 2022 by the end of 2023.

While you may be looking for the best-performing Stocks & Shares ISA, there are other factors that you should consider when selecting a product. This might include factors such as price, asset mix, minimum investment, quality of customer service, investment and product choice, and the options to view and manage your portfolio – whether through an app or a user-friendly website. Check out our article ‘The best stocks and shares ISA (& the cheapest fund platform)‘.

	5 year annualised return	Portfolio's exposure to equities %	Platform fees¹	2024 return	2023 return	2022 return	2021 return	2020 return
Moneyfarm Ethical (risk level 6)*	6.55%	82.50%	£130	13.40%	11.00%	-15.30%	14.90%	12.10%
Wealthify (Adventurous Portfolio)	6.14%	77.74%	£120	12.30%	11.30%	-9.10%	12.80%	5.10%
Moneyfarm (risk level 6)*	5.97%	83.10%	£130	12.10%	11.50%	-11.70%	13.90%	6.30%
Vanguard LifeStrategy 60% Equity	5.96%	60.00%	£48	10.14%	10.14%	-11.22%	9.93%	7.84%
Wealthify SRI (Adventurous Portfolio)	5.71%	83.55%	£120	9.90%	13.60%	-18.70%	14.70%	13.40%
Moneyfarm Ethical (risk level 5)*	5.43%	62.50%	£130	10.80%	10.20%	-14.20%	12.10%	10.90%
Nutmeg (Portfolio 7)	5.30%	74.36%	£150	10.60%	10.40%	-11.60%	12.70%	6.40%
Nutmeg SRI (Portfolio 7)	5.17%	73.78%	£150	10.20%	11.20%	-15.50%	13.70%	9.30%
Moneyfarm (risk level 5)*	5.02%	62.00%	£130	12.10%	10.30%	-11.50%	11.30%	4.90%
Wealthify (Ambitious Portfolio)	4.51%	60.46%	£120	9.10%	9.40%	-9.40%	9.70%	5.10%
Nutmeg SRI (Portfolio 6)	4.17%	62.93%	£150	9.00%	10.50%	-15.90%	10.70%	9.40%
Nutmeg (Portfolio 6)	4.03%	62.86%	£150	8.90%	9.70%	-12.60%	9.90%	6.20%
Wealthify SRI (Ambitious Portfolio)	4.02%	64.98%	£120	7.30%	11.10%	-17.40%	11.20%	11.20%

¹ Fees are per annum, based on a £20,000 investment (Does not include fund costs)

No management fee for 12 Months

Open or transfer a Stocks and Shares ISA, Junior ISA or Pension to our partner Wealthify.

Pay no management fees for the first 12 months
New customers only
T&Cs apply, Capital at risk

Provided by our partner

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Which is the best performing Stocks & Shares ISA?

For the purpose of this article, we have compared the performance of the best fully-managed portfolios from four of the most popular UK robo-advisers. Remember, however, that past performance is not a guide to future returns.

Wealthify performance

Wealthify operates similarly to most other services that offer fully managed ISAs, using an automated process to construct portfolios that match clients’ risk tolerances, while using cheap mutual funds and ETFs to keep costs down. Its investment team continuously monitors and rebalances client portfolios to keep them in line with the stated risk level.

Wealthify has five ‘original' Stocks & Shares ISA portfolios as well as five ‘ethical' Stocks & Shares ISA portfolios. Wealthify’s annualised return over the last 5 years was 4.51% for its ‘Ambitious' portfolio and 6.14% for its ‘Adventurous' portfolio. The equivalent ethical portfolios produced an annualised return of 4.02% and 5.71% over the last 5 years.

Wealthify charges a management fee 0.60% for its ISA (the above performance figures are after the fee has been deducted). Wealthify has an offer where you pay no management fees for 12 months when you invest in a Stocks & Shares ISA, JISA or Pension. New customers only. Terms and conditions apply, capital at risk. Read our Wealthify review for more information

Nutmeg performance

Nutmeg offers a range of 10 risk-graded model portfolios to choose from, depending on how much risk you are willing to take. Nutmeg establishes your risk tolerance by asking you a series of questions and then recommends a portfolio it thinks will suit you, from ‘Cautious’ to ‘Aggressive’. The portfolios contain low-cost exchange-traded funds (ETFs) diversified across assets, countries and sectors and Nutmeg regularly reviews asset allocation on its fully managed products to keep them in line with your goals and risk profile.

Let’s say you went for portfolio number six, in the middle of the pack, offering ‘moderate growth without extreme volatility’. Over the five years, the annualised return was 4.03%, which is slightly below the return you would have experienced with the equivalent portfolios from competitors Moneyfarm and Wealthify. Nutmeg also has a range of Socially Responsible Investment (SRI) portfolios, often referred to as ‘ethical' or ‘sustainable' investment portfolios and the equivalent ethical portfolio achieved an annualised return of 4.17%.

Looking across Nutmeg’s whole range, comparative performance is better in the higher risk portfolios. Portfolio number seven has an annualised return of 5.30% and its ethical equivalent has an annualised return of 5.17%.

Nutmeg’s investment performance figures are based on an account size of £25,000, and are calculated after fees, using data from actual trades rather than averages.

Nutmeg calculates the performance of its competitors using averages, after fees, from a range of discretionary investment managers including Coutts, UBS and Rathbones (rather than the other robo-advisers we refer to in this article).

In terms of fees, you pay between 0.35% and 0.75% for the fully managed and socially responsible portfolios, depending on the amount you have to invest, and between 0.25% and 0.45% for Nutmeg's fixed allocation portfolios.

There are also fees charged by the underlying funds in robo portfolios (that goes for all of the propositions mentioned in this article and not just Nutmeg), usually of around 0.19%.

Money to the Masses readers can also take our advantage of our exclusive offer where Nutmeg will waive all management fees for the first 12 months. For more details read our independent ‘Nutmeg review‘ which also explains more about their overall offering, including investment performance.

Moneyfarm performance

Moneyfarm uses a questionnaire to assess your investing experience, risk tolerance and investment goals, and then recommends a portfolio tailored to you, which is classed as regulated financial advice. Moneyfarm constructs a portfolio of ETFs based on its own investment research, and uses volatility targeting when doing your asset allocation, It rebalances portfolios about every three months. As it is giving advice, every year Moneyfarm has to review your portfolio to make sure it is still suitable.

Its medium risk portfolio, risk Level 6 out of 7, has an annualised return of 5.97%, while its ethical equivalent tops our performance table with an annualised return of 6.55%. Moneyfarm charges a management fee of between 0.35% and 0.75% depending on the size of your investment, and a £20,000 pot would set you back £130 a year in fees. However, Money to the Masses readers can take advantage of an exclusive Moneyfarm offer where your portfolio could be managed for FREE FOR THE FIRST YEAR*.

Read our detailed independent Moneyfarm Review.

Vanguard performance

Vanguard is one of the largest players in the investment fund space, offering both active and passive funds, although it made its name offering low-cost index tracker funds. Of interest to us here are its LifeStrategy funds, available through its Vanguard Investor platform. LifeStrategy funds are ready-made portfolios of Vanguard index tracker funds, and they tend to have a US equity focus. They come in five different mixes of stocks and bonds, labelled according to their equity allocations.

The LifeStrategy 60% Equity fund sits in the middle of the range, aiming for long-term returns with controlled risk and it has an annualised return of 5.96% over the last five years.

In terms of fees, the total charge on a £20,000 ISA investment would be around £100 per year if you bought LifeStrategy through Vanguard’s own platform, Vanguard Investor. This includes its minimum platform fee of £48 per year plus average fund fees of around 0.26%. It is worth mentioning that if you have more than £96,000 to invest, one of the cheapest ways to buy Vanguard funds is via the Interactive Investor* platform, not directly through Vanguard Investor. For more on this tip and for detailed information about Vanguard and its product range and pricing read our full independent ‘Vanguard Investor UK review‘.

Conclusion

Most of the analysed Stocks and Shares ISAs have limited performance data available, but we do now have at least 5 years of data to compare.

The performance figures provided in this article take into account the costs charged by each ISA provider. The figures should be viewed in the wider context of the longer-term performance figures which you can find on each provider's website. Also bear in mind that past performance is no guarantee of future returns.

However, there have been some standout performers when looking at the table above. For example, the Wealthify's Adventurous and Ambitious Portfolios are the only portfolios to fully recover the losses of 2022 in 2023. It is important to look at how portfolios have fared in strong market conditions (such as 2021) but also in tough market conditions (such as 2022 and 2024).

Elsewhere, Moneyfarm Ethical (risk level 5)* has outperformed a number of competitors' portfolios that have a higher equity exposure, meaning that they are taking more investment risk for less return.

It is important to not just focus on past performance when choosing a managed stocks and shares ISA. You should also consider costs, investment and product choice, the portfolio asset mix, minimum investment and customer service

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced the above editorial. The following links can be used if you do not wish to help Money to the Masses or take advantage of the exclusive Money to the Masses offers – Moneyfarm, and Interactive Investor.

How to get more than 5% interest on your savings

Lauren — Mon, 03 Feb 2025 13:00:04 +0000

The Bank of England base rate currently stands at 4.75%, following a rate cut of a quarter of a percentage point in November 2024. With the Bank of England base rate predicted to fall gradually, savers are keen to secure the best rate on their savings. In this article, we share the bank accounts and easy access cash ISAs offering interest rates over 5% so you can earn the most interest on your money.

For more information on the best rates in the market bookmark our savings best buy tables to stay up to date with the latest rates.

Earn 4.84% AER variable interest on your cash

Put your cash to work. Earn 4.84% (AER variable) interest on uninvested cash in a Dodl investment ISA and investment LISA.

Earn tax-free interest on money that is not yet invested.
Interest paid quarterly.
Investing involves risk.
T&Cs apply.

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Savings accounts with rates over 5%

In the following comparison table, we compare some of the best accounts and easy-access cash ISAs on the market right now with interest rates of 5% and over. For more information on the accounts, eligibility and any key features of the account see below the table.

Remember when saving money into a non-ISA account, you can only earn up to £1,000 in interest, if you are a basic-rate taxpayer, before you will be taxed on interest (£500 for a higher-rate taxpayer). This is known as the personal savings allowance and more information can be found in our article, 'What is the personal savings allowance and how you can boost it by £5,000'. If you're saving within a cash ISA, you can save up to £20,000 across all your ISAs every year tax-free. Any interest you earn is tax-free.

Best savings accounts with over 5% interest - a comparison

	Savings Rate	Account type	Pay in amount	Easy access	Bank's current account required
Principality 6 Month Regular Saver	8.00%	Regular Saver	£0 - £200 (per month)	No	No
First Direct Regular Saver	7.00%	Regular Saver	£25 - £300 (per month)	No	Yes
The Co-operative Bank Regular Saver	7.00%	Regular Saver	£0 - £250 (per month)	Yes	Yes
Skipton Building Society Member Regular Saver	6.75%	Regular Saver	£0 - £250 (per month)	No	Yes
Nationwide Flex Regular Saver	6.50%	Regular Saver	£0 - £200 (per month)	Yes	Yes
Club Lloyds Monthly Saver	6.25%	Regular Saver	£25 - £400 (per month)	Yes	Yes
NatWest Digital Regular Saver	6.17%	Regular Saver	£0 - £150 (per month)	Yes	Yes
RBS Digital Regular Saver	6.17%	Regular Saver	£0 - £150 (per month)	Yes	Yes
Principality 1 Year Triple Access	5.60%	Regular Saver	£1 - £50 (per month)	Yes	No
Halifax Regular Saver	5.50%	Regular Saver	£25 - £250 (per month)	No	No
Halifax Kids’ Monthly Saver	5.50%	Children's Regular Saver	£10 - £100 (per month)	No	No
Saffron Building Society	5.25%	Children's Regular Saver	£5 - £100 (per month)	Yes	No
Barclays Rainy Day Saver	5.12%	Easy Access	£1 - £5,000	Yes	Yes
Moneybox Cash ISA	5.11%	Cash ISA	£500	Yes	Yes
Prosper 185 Day Notice Tracker	5.08%	Notice Account	£20,000	No	Yes
Plum Cash ISA*	5.01%	Cash ISA	£100	Yes	No
Santander Regular Saver	5.00%	Regular Saver	£0 - £200 (per month)	No	Yes
Nationwide FlexDirect account	5.00%	Current Account	£1,000	Yes	Yes
HSBC Regular Saver	5.00%	Regular Saver	£25 - £250 (per month)	No	Yes

Correct at 03/02/2025

Get 5.01% (AER Variable) with the Plum Cash ISA

Earn 5.01% (AER Variable) with the Plum Cash ISA

Easy Access Cash ISA
Rate includes a Plum Bonus of 1.22% AER (variable)
T&Cs and eligibility criteria apply
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Principality 6 Month Regular Saver - 8.00%

The Principality Regular Saver allows account holders to get 8% interest on their deposits up to £200 a month for a 6-month period. There is no access to your funds within the 6-month term.

There is no minimum deposit and you don't have to save every month. However, if you deposit the maximum amount of £1,200 over six months, then you can expect to have a final balance of £1,227.53 at the end of the six months.

Who is eligible for the Principality 6 Month Regular Saver?

Must be at least 16 years old
Must be a UK resident
Can hold the account jointly

First Direct Regular Saver - 7.00%

The First Direct Regular Saver allows First Direct personal current account holders to get 7% interest for a fixed period of 12 months. You cannot access your money within the 12-month term unless you close your account and if you do this, you will only receive an interest rate equivalent to the First Direct savings account, which is currently 2.00%.

You can only save a maximum of £3,600 a year in the First Direct Regular Saver and you can save between £25 - £300 a month. The payment must be made via a single monthly standing order but you can change the amount if you need to. If you save the maximum amount of £3,600 throughout the term you can expect to earn around £136.50 in interest.

Who is eligible for the First Direct Regular Saver?

Must be a First Direct current account holder

The Co-operative Bank - 7.00%

The Co-operative Bank Regular Saver allows Co-op Bank account holders to get 7% interest on their deposit for a fixed period of 12 months. The 12-month period starts from the date when the bank accepts your first deposit. You can access the account whenever you want and there are no penalties if you choose to do so.

You can save up to £250 a month every month. If you exceed this amount, the excess will be returned to you. If you save the maximum for 12 months, you could end up with a balance of £3,114.21 of which £114.21 could be interest earned assuming the Co-op doesn't change the interest rate, you haven't made any additional deposits or withdrawals, and you make your 12 regular monthly deposits on the first each month starting in January.

Who is eligible for the Co-operative Bank?

Must be a current Co-operative Bank account holder
Must be a UK resident
Must be aged 16 or over

Skipton Building Society Regular Saver - 6.75%

The Skipton Building Society allows Skipton members to get 6.75%% interest for a fixed period of 12 months. This account is only open to those who were Skipton Building Society members on or before 11th January 2024. You cannot access your money within the 12-month term unless you close your account (which you can do at any time and withdraw the full balance).

You can only save a maximum of £3,000 a year in the Skipton Building Society Regular Saver and you can save between £1 - £300 a month. If you save the maximum amount of £3,000 throughout the term you can expect to earn around £109.00 in interest.

Who is eligible for the Skipton Building Society Regular Saver?

Must be a Skipton member on or prior to January 20, 2025
Must be aged 16 or over
Must be a UK resident

Nationwide Flex Regular Saver - 6.50%

The Nationwide Flex Regular Saver offers existing customers 8.00% variable interest on their savings account balance. In order to open an account you must be an existing Nationwide current account holder.

Savers can deposit a maximum of £200 a month into the account and can make up to 3 withdrawals penalty-free. If you make 4 or more withdrawals from the account the interest rate will drop to 2.15% for the remainder of the term. The account can be opened online or via the mobile app.

Who is eligible for the Nationwide Flex Regular Saver?

Must be an existing Nationwide current account holder
Must be 16 or over and live in the UK

Club Lloyds Monthly Saver - 6.25%

You can earn up to 6.25% for 12 months on your Club Lloyds Monthly Saver if you are a Club Lloyds account holder. You need to set up a standing order or bank transfer between £25 and £400 a month to get the 6.25% interest rate, but you can top up the amount you save each month at any time, as long as it does not exceed the £400 monthly limit. If you deposit the maximum amount each month you can expect your account balance to be roughly £4,950.00 after the interest is paid.

If you set up a regular payment or standing order this needs to reach the account by the 25th of each month. You can access your money at any time with a Club Lloyds monthly saver and after 12 months the account will change to a standard saver. The interest on this account is paid at the end of the 12-month term.

Who is eligible for the Club Lloyds Monthly Saver?

You need to be a UK resident and a minimum of 18 years old to open a Club Lloyds Monthly Saver
Must be a Club Lloyds current account holder (which comes with a £3 monthly fee that is waived if you deposit at least £2,000 into the account each month)
Must not have already opened a monthly saver account in the last 12 months

NatWest & RBS Digital Regular Saver - 6.17%

You can earn 6.17% gross (6.00% AER variable) on your NatWest and RBS Regular Saver balances between £1 - £5,000. However, once you exceed £5,000 the interest rate does drop to 1.75%. You can access your money at any time with a NatWest or RBS Digital Regular Saver which makes it a good option if you think you will need your money at some point in the future. Interest on this savings account is calculated daily and paid monthly.

You can save between £1 - £150 a month by standing order but this can be changed at any time and you can top up your monthly contribution up to the £150 limit. Additionally, it is possible to top up savings with round-ups and these round-up savings don’t contribute towards the monthly limit. If you save a maximum of £150 a month into this account your balance after 12 months will be £1,859.83 and you can expect to earn approximately £59.83 in interest.

Who is eligible for the Natwest/RBS Digital Regular Saver?

Must be 16+
Have a NatWest/RBS current account
Must be your only digital regular saving account

Principality 1 Year Triple Access Regular Saver - 5.60%

You can earn up to 5.60% AER on your savings with Principality's Triple Access Regular Saver as long as you don't make more than three withdrawals in each calendar year. The rate is variable which means it can change.

You can deposit up to £50 a month. If you deposit £50 a month for 12 months, you could have a final balance of £618.10 at the end of the year assuming you haven't made any withdrawals, you made the first payment when the account was opened and the interest rate hasn't changed.

Who is eligible for the Principality 1-Year Triple Access Regular Saver?

Must be at least 16 years old
Must be a UK resident
Can hold the account jointly

Halifax Regular Saver - 5.50%

You can earn 5.50% gross/AER when you save between £25 and £250 each month using a Halifax Regular Saver account. The interest rate is fixed and cannot be changed during the term once you open your account. You cannot access your savings during the 12 month term and if you choose to close the account, the balance including any interest that you earned will be transferred to a Halifax Everyday Saver account and earn the variable rate of interest available with that type of account at the time.

You can open a Halifax Regular Saver account with a minimum balance of £1 and you can deposit between £25 and £250 each month. If you save the maximum amount of £250 each month, your balance at the end of 12 months is likely to be around £3,082.50 if you make no withdrawals.

Who is eligible for the Halifax Regular Saver?

Must be 16+
Must be a UK resident

Halifax Kids’ Monthly Saver - 5.50%

If you would like to save money on your child's behalf, the Halifax Kids' Monthly Saver has a fixed interest rate of 5.50% for 12 months. You can contribute between £10 - £100 per month by standing order and the amount must reach the account by the 25th of the month to get the interest rate for that month. You can change the amount of your standing order at any time but you don't have to contribute every month. The money in your account cannot be accessed for the duration of the term unless you close your account. After the 12 months, the money that you have saved and the interest will be transferred to the Kids' Saver account which was opened when you opened the Monthly Saver.

Who is eligible for the Halifax Kids' Monthly Saver?

For children 15 and under (ideal for adults who want to save on their behalf)
Accountholder must be 18+ and a UK resident
If you aren’t a parent or legal guardian of the child you need their permission to open this account

Saffron Building Society Children's Regular Saver - 5.25%

The Saffron Building Society Children's Regular Saver comes with a 5.25% AER variable interest rate. The minimum balance is £5 and the maximum amount you can save for your child each month is £100. If you save the maximum amount each month, you could have a balance of £1,234.13 at the end of the 12 months inclusive of £34.13 of interest.

This is an easy-access account and you're allowed to take money out of the account whenever you want. The account can be opened online or by post and can then be managed in branch, by post, by phone, or on webchat.

Who is eligible for the Saffron Building Society Children's Regular Saver?

To open the account, you must be:

17 years old or younger and a UK resident
For children under 13, the account must have an adult signatory
Only one account per child

Barclays Rainy Day Saver - 5.12%

If you are a Barclays Blue Rewards member you can earn up to 5.12% AER on your balance up to £5,000 in a Barclays Rainy Day Saver. If you deposit the full £5,000 you can expect to earn roughly £251.34 in interest on the balance. However, if your balance exceeds the £5,000 limit the interest rate drops to 1.16% on funds over and above £5,000.

The Barclays Rainy Day Saver can be opened with a minimum of £1 and you can deposit a maximum of £10 million. If required, you can access your money at any time.

Who is eligible for the Barclays Rainy Day Saver?

Must be a Barclays Blue Rewards member (can earn cashback and rewards but must pay £5 monthly account fee)
Must be 18+
Must be a UK resident

Moneybox Cash ISA - 5.11%

Savers using the Moneybox Cash ISA can earn a variable interest rate of up to 5.00% on their deposits up to £20,000 each tax year. As this is a Cash ISA, any interest earned will be tax-free. The minimum balance required for the Cash ISA is £500.

The interest rate includes a bonus rate of 0.66% for the first 12 months. You can make up to three withdrawals every 12 months without impacting your rate. To give you an idea of how much you could make in a year if you make no withdrawals, a £1,000 deposit on opening the account could be worth £1,050 after 12 months.

Who is eligible for a Moneybox Cash ISA?

Must be 18+
Must be a UK resident
Must download the Moneybox app
Can't be held jointly

Prosper 185 Day Notice Tracker - 5.08%

The Prosper 185 Day Notice Tracker pays a variable interest rate of 5.08% AER which is calculated daily and paid monthly. The interest rate tracks the Bank of England base which means the interest rate on the account updates a day after any Base Rate changes. You can save between £20,000 to £250,000 with this account. The account is provided by Santander International, but you can only manage it via the Akoni dashboard on Propser.

As long as you do not make any withdrawals within 12 months, you can expect to earn £50.80 in interest for every £1,000. As this is a notice account, to withdraw your funds, you must serve notice. While earlier withdrawal may be possible without notice, it may be subject to additional charges or penalties.

Who is eligible for the Prosper account?

Must have a Propser account
Must have at least £20,000 to deposit

Plum Cash ISA* - 5.01%

The Plum Cash ISA* allows savers to earn up to 5.01% AER on their ISA savings. This is inclusive of a 1.22% AER (variable) Plum Bonus if kept for 12 months. The account is easy access allowing up to three withdrawals without affecting your interest rate. However, if you access the account more than three times, then your interest will drop to 2.50% AER after your fourth withdrawal. You must also ensure you have at least £100 in your account at all times or your interest rate will drop to 2.50% AER. Transfers in are allowed but the interest rate on the transferred balance will be 3.79% AER.

Who is eligible for a Plum Cash ISA?

Must be a UK resident
Must be 18+
Must have at least £100 to invest (or the interest rate drops to 2.50% AER)

Santander Regular Saver - 5.00%

Santander's Regular Saver comes with 5% interest for the first 12 months. You can save up to £200 per month with this account and you can make withdrawals if you need to do so. However, you need to fund your account with a standing order from an existing Santander current account. If you deposit £200 per month and make no withdrawals for the full 12 months, you'll get back your deposits as well as up to £65.01 in interest.

Who is eligible for a Santander Regular Saver?

Must be a UK resident
Must be 16+
Must have a Santander current account

Nationwide FlexDirect account - 5.00%

Nationwide FlexDirect current account holders can earn 5% interest on current account balances up to £1,500. In order to qualify for the rate, however, you must pay in a minimum of £1,000 a month and if you don't meet this criteria the interest rate will revert to 1.00%. Nationwide account transfers do not count towards the £1,000 monthly pay-in amount required. After the initial 12 months end, the interest rate on this account will revert back to 1.00%.

When opening a Nationwide FlexDirect account you can also benefit from a 12-month interest-free overdraft, as long as you meet the required eligibility criteria, although after the 12-month period ends this rate does increase to 39.9%. You can also access the Flex Instant Saver which has an interest rate of 3.25% for 12 months or the Flex Regular Saver which is 6.50% variable for 12 months.

Who is eligible for the Nationwide FlexDirect account?

Must be 18+
Must be a UK resident
Hold no more than 4 existing Nationwide accounts (including both sole and joint accounts)

HSBC Regular Saver - 5.00%

HSBC's Regular Saver allows you to earn 5.00% interest for 12 months on a maximum balance of £3,000. You can choose to save between £25 - £250 by standing order each month and if you don't meet the maximum you can carry over any unused allowance to the following months. If you save the maximum allowed amount of £250 each month, your balance after 12 months is likely to be £3,081.25. With an HSBC Regular Saver, you cannot access money for 12 months to benefit from the rate.

Who is eligible for the HSBC Regular Saver?

- Must be 18+
- Must have one of the following HSBC current accounts: HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account which you must maintain for the 12-month duration

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers – Plum

How to get a loan for home improvements

Joel Kempson — Mon, 03 Feb 2025 12:23:09 +0000

You can use a personal home improvement loan to fund major or minor changes to your property. Like with other personal loans, you can borrow a lump sum, then pay it off over a period of months or years. In this page you can find all of the key information you need to know about home improvement loans, as well as the top deals on the loans currently available in the UK.

Compare loan deals

We’ve teamed up with Creditec

Check your eligibility for a loan before you apply
No effect to your credit score
Representative 26.9% APR
Simple to use

Compare loan deals*

What are loans for home improvements?

Paying for property renovations can be very expensive, so spreading the cost can be a great way to make it more affordable. It can also help you manage the often inevitable unexpected costs that can pop up during a long building project. Of course, home improvement loans are not free. The downside to opting for a loan over using your savings or paying with a 0% purchase credit card will be the interest charges that accrue.

How much home improvement loans cost depends on how much interest is charged, which varies depending on the amount borrowed and the repayment period. Your credit history and financial circumstances will also play a significant part in the loan terms you are offered.

How to find the best loan for you

Comparing different loans is a key part of getting the best deal for you. Money to the Masses has made this process easier by partnering with Creditec*, an online comparison service. Instead of trawling through countless different provider websites hunting for the best deal, Creditec’s personalised search results will show you the key details you need to know, all in one place. If you are eligible, your tailored list will feature the loans that you are more likely to be accepted for, cutting down the chance of any applications you make being rejected should you go on to complete a full application with the provider. Your search results are built using a soft credit search, so there will be no damage to your credit score. Click on this link to get started*. If you are not eligible for a loan with any of the providers on the panel then you may be shown a variety of alternative products that may be suitable for you. You are under no obligation to continue with them if you feel they are not suitable for your circumstances.

Best loans for home improvements – February 2025

We have used the representative examples of repaying a £1,000 loan over three years, a £5,000 loan repaid over five years, a £10,000 loan repaid over five years, a £20,000 loan repaid over five years and finally a £25,000 loan repaid over five years to source the figures in this table. Borrowing more or less will often change the advertised rate of interest, as will altering the loan term. It is important to remember that the loan amount and rate you are ultimately offered will be based on your credit history and financial circumstances, so the representative APR you are offered may differ to the amount you see in the tables below.

The loan options displayed on this page are unsecured loans. It is important to explore all options as you may find that a secured loan is a better option for you, especially if you are undertaking a significantly expensive project or have a less than stellar credit history. Another option could be to consider remortgaging.

The best rates on a £1,000 loan

Loan provider	Representative APR (from)	Available loan term	Available loan amount	Monthly payment	Eligibility checker?
Santander	13.5%	1 - 5 years	£1,000 - £25,000	£33.56	No
M&S Bank	14.9%	1 - 7 years	£1,000 - £25,000	£34.16	Yes
AIB (NI)¹	16.4%	1 - 5 years	£1,000 - £25,000	£35.01	No
HSBC	16.9%	1 - 5 years	£1,000 - £25,000	£35.02	No
Zopa	22.9%	1 - 5 years	£1,000 - £25,000	£37.57	Yes
TSB	27.9%	1 - 7 years	£300 - £50,000	£39.69	No
Halifax	29.7%	1 - 7 years	£1,000 - £50,000	£40.44	Yes

Representative APR is based on a 3-year loan term

¹You must be an existing personal current account customer with AIB (NI) and registered for Online Services

The best rates on a £5,000 loan

Loan provider	Representative APR (from)	Available loan term	Available loan amount	Monthly payment	Eligibility checker?
Tesco Bank	7.1%¹	1 - 10 years	£1,000 - £35,000	£98.72	Yes
Santander	7.2%	1 - 5 years	£1,000 - £25,000	£98.94	No
M&S Bank	7.2%	1 - 7 years	£1,000 - £25,000	£98.94	Yes
AIB (NI)²	7.9%	1 - 5 years	£1,000 - £25,000	£100.83	No
HSBC	9.9%	1 - 5 years	£1,000 - £25,000	£104.95	No
TSB	11.9%	1 - 7 years	£300 - £50,000	£109.45	No
Halifax	17.9%	1 - 7 years	£1,000 - £50,000	£123.14	Yes
Zopa	22.9%	1 - 5 years	£1,000 - £25,000	£187.68	Yes

Representative APR is based on a 5-year loan term

¹Clubcard members receive a preferential rate, non-members will get from 7.8% and pay £100.27 a month

²You must be an existing personal current account customer with AIB (NI) and registered for Online Services

The best rates on a £10,000 loan

Loan provider	Representative APR (from)	Available loan term	Available loan amount	Monthly payment	Eligibility checker?
TSB	5.9%	1 - 7 years	£300 - £50,000	£192.15	No
M&S Bank	6.0%	1 - 7 years	£1,000 - £25,000	£192.59	Yes
Tesco Bank	6.0%¹	1 - 10 years	£1,000 - £35,000	£192.59	Yes
Santander	6.2%	1 - 5 years	£1,000 - £25,000	£193.47	No
HSBC	6.6%	1 - 5 years	£1,000 - £25,000	£195.23	No
Halifax	6.7%	1 - 7 years	£1,000 - £50,000	£195.67	Yes
AIB (NI)²	7.1%	1 - 5 years	£1,000 - £25,000	£197.85	No
Zopa	22.9%	1 - 5 years	£1,000 - £25,000	£269.40	Yes

Representative APR is based on a 5-year loan term

¹Clubcard members receive a preferential rate, non-members will get from 6.4% with monthly repayments from £194.35

²You must be an existing personal current account customer with AIB (NI) and registered for Online Services

The best rates on a £20,000 loan

Loan provider	Representative APR (five-year term)	Available loan term	Available loan amount	Monthly payment	Eligibility checker?
TSB	5.9%	1 - 7 years	£300 - £50,000	£384.30	No
Tesco Bank	6.0%¹	1 - 10 years	£1,000 - £35,000	£385.18	Yes
M&S Bank	6.0%	1 - 7 years	£1,000 - £25,000	£385.18	Yes
Santander	6.2%	1 - 5 years	£1,000 - £25,000	£386.94	No
Halifax	6.7%	1 - 7 years	£1,000 - £50,000	£391.35	Yes
AIB (NI)²	7.1%	1 - 5 years	£1,000 - £25,000	£395.69	No
HSBC	7.4%	1 - 5 years	£1,000 - £25,000	£397.54	No
Zopa	22.9%	1 - 5 years	£1,000 - £25,000	£538.80	Yes

Representative APR is based on a 5-year loan term

¹Clubcard members receive a preferential rate, non-members will get from 6.4% with monthly payments from £388.70

²You must be an existing personal current account customer with AIB (NI) and registered for Online Services

The best rates on a £25,000 loan

Loan provider	Representative APR (five-year term)	Available loan term	Available loan amount	Monthly payment	Eligibility checker?
TSB	5.9%	1 - 7 years	£300 - £50,000	£480.38	No
Tesco Bank	6.0%¹	1 - 10 years	£1,000 - £35,000	£481.47	Yes
Santander	6.2%	1 - 5 years	£1,000 - £25,000	£483.67	No
Halifax	6.7%	1 - 7 years	£1,000 - £50,000	£489.18	Yes
M&S Bank	6.9%	1 - 7 years	£1,000 - £25,000	£491.40	Yes
AIB (NI)²	7.1%	1 - 5 years	£1,000 - £25,000	£494.61	No
HSBC	7.4%	1 - 5 years	£1,000 - £25,000	£496.92	No
Zopa	22.9%	1 - 5 years	£1,000 - £25,000	£673.50	Yes

Representative APR is based on a 5-year loan term

¹Clubcard members receive a preferential rate, non-members will get from 6.4% with monthly payments from £485.87

²You must be an existing personal current account customer with AIB (NI) and registered for Online Services

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How loans for home improvements work

Getting a home improvement loan can be broken down into five important steps:

Price up your renovations: Get a range of quotes from relevant professionals to work out how much your home improvements will cost. Make sure to take into account how the price may change during the project and what unexpected costs may arise.
Compare home improvement loans: Once you know how much you need to borrow, you can compare the different options in the relevant table on this page.
Apply for you home improvement loan: The application process should be relatively quick, depending on your financial circumstances and credit history. You can usually complete the whole process online, though some providers offer branch or phone options.
Start your renovations: Once your application is approved, it should not take long for you to receive the money. This is your green light to get your home improvement project started.
Repay your loan: You will repay your loan through a number of fixed monthly repayments, though you may have the option to pay it back early.

The key figures in a loan for home improvements

Here are the key figures to pay attention to when you compare loans for home improvements:

APR (annual percentage rate) - This is the cost of borrowing the money in the first year and broadly defines which deal is the cheapest. It includes the interest you are being charged as well as any standard fees charged by the lender.
Representative APR - This is the APR that the lender expects at least 51% of successful applicants to be offered. You may ultimately get a higher or lower figure, but it is a useful way to compare providers at the start of your comparison.
Loan amount - This is the amount of money you are borrowing. Most of the unsecured loan providers featured on this page will lend between £1,000 and £25,000. Some people may be able to borrow much more, while others may not be offered the full amount they wish to borrow.
Loan term - The period of time you are borrowing the money for. Most lenders in this article offer between one and seven years to repay your loan, but longer terms may be available.
Loan fees - This is what you will be charged in addition to repaying what you have borrowed. Fees will vary between lenders, so it is important to check before you apply.
Early repayment charge - This is an extra charge some lenders add on if you try to repay your loan in full before the end of the term.
Credit score - This is a numerical rating of how reliable or trustworthy a borrower you are, based on your credit history. A low credit score can suggest your loan application will be rejected. A high score is usually a good sign that you will be offered the best rates. Read our top tips to improve your credit score before you apply.

How much can I borrow with a loan for home improvements?

How much you can borrow with a personal home improvement loan will depend on your financial circumstances and your credit history. In other words, how much you can afford to repay and how much you can be trusted to repay based on your borrowing history.

You will also be limited by the maximum amount a provider will lend. Many mainstream lenders cap personal loans for home improvements at £25,000 or £50,000, though some specialist lenders may go higher. If you need more than £50,000 to complete your home improvements, you may find that a secured loan or remortgaging are better options. You could be able to borrow much more money and potentially spread your repayments over a longer period. However, your home will be at risk and could be sold to settle the debt if you are unable to repay what you owe.

What can I use a loan for home improvements for?

You can use your home improvement loan to get a new kitchen, a new bathroom, convert your loft into a bedroom, convert your garage into a study, build a conservatory or even an extension. If it is physically possible, within planning rules and affordable, you can spend your money however you like.

Ultimately, once the money is in your account there is no rule dictating that you must spend the cash on home improvements at all. As long as you are not breaking your lender's rules – which usually ban spending for gambling, business purposes, illegal activity or buying property – you can put the money towards any expense you choose.

Some lenders will encourage you to take out a loan for home improvement in order to boost the energy efficiency of your home. This could involve installing better insulation, adding solar panels or changing your main source of energy to something like a heat pump. These kind of changes can reduce your household energy bills and help offset the cost of the loan and the work itself.

Pros and cons of a loan for home improvements

Here are the key pros and cons to getting a loan for home improvements:

Pros of a loan for home improvements

Spread cost of works - With a loan, you can pay for the cost of your home improvements over many months or years.
Access funds quickly - Once your loan application is approved, you should be able to access the funds very quickly.
Start project earlier - You do not need to spend years saving up the money you need for your renovation.
Budget fixed repayments - You know how much you will need to pay each month to clear your debt.
Spend money on what you need - You have the flexibility to put the money towards urgent priorities as they arise. You could even choose to spend the loan on something other than home improvements.
Cut your household bills - Some energy-efficient home improvements can transform how much you spend on energy bills and even eventually pay for themselves in cost savings.

Cons of a loan for home improvements

Expensive to borrow - Borrowing is more expensive than funding home improvements through simply saving up the cash. This is because you will need to pay interest on your debt, plus any fees or charges.
Very expensive to borrow if you have bad credit - People with bad credit may find that the cost of borrowing is higher than they expected.
Missed repayments can damage your credit score - Missing a repayment on a personal loan for home improvements will usually trigger a late fee and leave a mark on your credit file that future lenders will be able to see.

Alternatives to a loan for home improvements

There are a few different alternatives to taking out a personal loan for home improvements. Depending on how much your project will cost, how long it will take to complete and what forms of payment are accepted, it may be better to choose one of the following options:

Remortgaging - You could remortgage and borrow more money against your home to provide the cash injection for renovations. This is a popular option for major works that will significantly change the value of your home, but keep in mind that missing payments on your new, higher mortgage will put your home at risk.
Secured loan - A secured loan will require collateral, usually your home, that will be at risk of being sold to cover what you owe if you cannot repay the debt. However, you can often borrow more with a secured loan than with an unsecured loan.
Credit card - If you can get a top 0% purchase credit card, you may not need to pay any interest on your debt. However, credit cards are not always accepted as a payment method, so the viability of this option will depend on the type of improvements you are planning.
Savings - You could avoid the cost of borrowing altogether by dipping into your savings. This may mean you need to wait a little while longer before you can get your project up and running and could mean you have to stick to a tight budget. However, you will not need to pay interest and may find that what you put away grows faster than you expected if you pick one of the top savings accounts.

Best Pension in the UK

Joel Kempson — Mon, 03 Feb 2025 11:47:46 +0000

Choosing the best pension provider for you can feel like a daunting process, but it does not need to be. There are a whole host of pension providers in the UK that offer slightly different products with varying fees and charges, so there should be something for everyone.

In this article, we break down a selection of the options to help you make a decision based on what pension is best for you. That could be finding the cheapest option, picking a pension provider with no minimum contribution or finding the pension plan that gives you the biggest choice. We also cover some of the basics of picking a personal pension plan so that you know what to look for to find the best pension in the UK for your retirement savings.

I recommend you read the article in full, however, you can jump to sections of the articles using the links below:

Best UK pension provider comparison table
Best UK private pension providers list
What is a personal pension?
How does a personal pension work?
Which is the best personal pension provider for me?
Steps to set up a personal pension
Further reading

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Best UK pension providers – February 2025

Below is a selection of UK pension providers that offer a variety of different types of pension plan:

Provider	Product Types	Minimum Contribution	Service fees	Offer	Good for
AJ Bell*	SIPP	£0 for a regular payment, £1,000 lump sum	Funds: 0.25% (up to £250,000) 0.10% (£250,000-£500,000) 0% (over £500,000) Shares: 0.25% (capped at £10 per month)	N/A	‍DIY and ready-made
Bestinvest	SIPP	£0	DIY: Highest of £120 per year or 0.40% (up to £250,000) 0.20% (£250,000-£500,000), 0.10% (£500,000 - £1,000,000) 0% (over £1,000,000) Ready-made portfolios: Highest of £120 per year or 0.20% (up to £250,000) 0.20% (£250,000 - £500,000) 0.10% (£500,000 - £1,000,000) 0% (over £1,000,000)	N/A	‍DIY and ready-made
Interactive Investor*	SIPP	£25 per month	Pension Essentials plan: £5.99 per month (Pensions value up to £50,000) Or Pension Builder plan: £12.99 per month (Pension value of £50,000 or more)	New customers get £100 - £3,000 cashback when they deposit or transfer at least £10,000 into an Interactive Investor SIPP* before 28th February 2025. Terms & fees apply. Capital at risk.	‍DIY and ready-made
Fidelity*	SIPP	£20 per month, £800 lump sum	0.35% or £90 if you don't have a regular savings plan (under £7,500), 0.35% (£7,500 - £250,000), 0.20% (over £250,000, capped at £2,000)	N/A	DIY and ready-made
Hargreaves Lansdown*	SIPP	£25 for a regular monthly payment £100 lump sum	Funds: 0.45% (up to £250,000) 0.25% (£250,000 - £1,000,000) 0.10% (£1,000,000 - £2,000,000) 0% (over £2,000,000) Shares: 0.45% (capped at £200 per year)	N/A	‍DIY and Ready-made
Nutmeg	SIPP	£500	Actively Managed: 0.75% (up to £100,000) 0.35% (over £100,000) Fixed Allocation: 0.45% (up to £100,000) 0.25% (over £100,000)	Management fees waived for 12 months	Ready-made
Moneyfarm*	SIPP	£500	Actively Managed: 0.75% (£500 - £9,999.99), 0.70% (£10,000 - £19,999.99), 0.65% (£20,000 - £49,999.99), 0.60% (£50,000 - £99,999.99), 0.45% (£100,000 - £249,999.99), 0.40% (250,000 - £499,999.99), 0.35% (from £500,000) Fixed Allocation: 0.45% (up to £100,000) 0.35% (£100,000 - £250,000) 0.40% (£250,000 - £500,000) 0.35% (over £500,000)	Management fees waived for 12 months*	‍Ready-made
Penfold*	SIPP	£0	0.75% (up to £100,000, 0.88% with Sharia account) 0.40% (over £100,000, 0.53% with Sharia account)	N/A	‍Ready-made
PensionBee*	SIPP	£0	Tracker Plan and Preserve Plan: 0.50% (up to £100,000), 0.25% (over £100,000) Pre-Annuity Plan: 0.70% (up to £100,000) 0.35% (over £100,000) Fossil Fuel Free Plan: 0.75% (up to £100,000) 0.375% (over £100,000) 4Plus Plan, Impact Plan and Shariah Plan: 0.95% (up to £100,000) 0.475% (over £100,000)	N/A	Ready-made
Wealthify	SIPP	£50	Standard: 0.60% (plus average fund fees of 0.16%) (up to £100,000) 0.30% (over £100,000) Ethical: 0.60% (plus average fund fees of 0.70%) (up to £100,000) 0.30% (over £100,000)	Wealthify has an offer where you pay no management fees for 12 months when you invest in a Stocks & Shares ISA, JISA or Pension. New customers only. Terms and conditions apply, capital at risk. Read our Wealthify review for more information	Ready-made
Vanguard	SIPP	£100 for a regular ongoing payment £500 lump sum	0.15% (capped at £375 per year for accounts over £250,000) DIY investors subject to a £4 minimum monthly fee from 28th February 2025.	N/A	DIY and Ready-made

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Best UK private pension providers

Here we break down the basics of some of the UK’s top pension providers to help you find the right pension fund for your retirement savings. You can also find a link in each section to a full review of that platform.

AJ Bell

AJ Bell is a big name in the online investment world and claims to specialise in making a personal pension plan that is simple and easy to manage. Investors can get a ready-made portfolio or opt for a plan with varying degrees of input from specialists. It is also rated as one of the best SIPP (Self Invested Personal Pension) providers on the market, with a variety of different investment options. Customers can choose from funds, unit trusts, investment trusts, ETFs (exchange traded funds), and foreign and UK shares.

AJ Bell can be a low-cost option, however, it charges for fund switches and share trading and so it can be expensive for active investors. You can manage your pension fund online or through the dedicated app. Find out more by reading our full ‘AJ Bell review’.

Bestinvest

Bestinvest offers customers a variety of different investment options, including around 2,500 funds, investment trusts, UK shares and ETFs. You can choose from three main options: pick your investments yourself, opt for a ready-made portfolio or get advice from a qualified financial planner. It is unusual for a platform to offer all three of these options. Bestinvest is also a relatively cost-effective option, though some of its ‘expert’ portfolios can prove expensive over time.

The platform is easy to use, which can make Bestinvest a good option for beginner investors looking for a wide range of options. We dig deeper into what Bestinvest can offer you in our full ‘Bestinvest review’.

Interactive Investor

Interactive Investor is an online investment service with over 430,000 customers. It charges a monthly subscription fee rather than a percentage fee, which means you will always know how much your pension pot will cost to maintain each month. Those with smaller pension pots can start with the Pension Essentials plan priced at £5.99 per month, however, it will be upgraded to the Pension Builder plan (priced at £12.99 per month) once the pension reaches a value of £50,000). Beginners are able to access Interactive Investor’s ‘Quick-start Funds’, which involve selecting from a list of six pre-prepared funds. More advanced investors can choose their own options from a host of different funds and shares.

Read more about Interactive Investor in our full review ‘Interactive Investor Review’.

Fidelity

Fidelity is an investment company with over 1 million clients in the UK. The Fidelity SIPP offers a wide range of investment options including funds, ETFs, investment trusts and shares. There is no upper limit to the amount you can invest, but there is a high minimum investment amount of £1,000. Fidelity’s fees compare well to its competitors, but the tiered system means you are most likely to get value for money if your pot exceeds £250,000. You will not need to pay any service fees on a junior pension with Fidelity.

You can read more about Fidelity in our comprehensive and independent ‘Fidelity Review’.

Hargreaves Lansdown

Hargreaves Lansdown manages around £155bn on behalf of over 1.9 million clients, making it the largest UK fund platform. Customers can access a range of guides, research and investment tools to get a better understanding of how to help their money grow. You can also choose from either a good selection of ready-made portfolios or Hargreaves Lansdown’s cash management service. Its website and app are easy to use, though it does not have a live chat support feature. You should also keep in mind that it may not always be the cheapest option.

We have much more information on how the platform could work for you in our thorough ‘Hargreaves Lansdown Review’.

Nutmeg

Nutmeg is a robo-advice platform that has been operating in the UK since 2011. It offers access to relatively low-cost fully managed portfolios made up of exchange-traded funds. In order to gauge your appetite for risk, Nutmeg asks you to grade yourself from the least risky (1) to the most risky (10). Users cannot choose their own assets and Nutmeg only invests in ETFs, but it is an easier and cheaper process than dealing with an independent financial adviser. It is unlikely to be a good match for savers looking for full control over where their money is invested.

Nutmeg customers can choose from four investment options: fully managed, fixed allocation, smart alpha and socially responsible portfolios. We examine each option in detail in our full platform ‘Nutmeg Review’. You can also read our take on its pension options in our ‘Nutmeg Pension review’.

Moneyfarm

Moneyfarm is one of the largest digital wealth managers in Europe and has been operating in the UK since 2016. Unlike other robo-advice firms, with Moneyfarm you are designated an investment consultant who can offer guidance, but not advice. The Moneyfarm Pension involves investing via a recommended portfolio based on your savings goals, your planned retirement date, the amount you want to pay in and your overall appetite for risk. Investors can choose between 7 risk based fully managed portfolios or 5 risk based fixed allocation portfolios.

You can find out how Moneyfarm calculates your appetite for risk and much more about the platform in our full, independent ‘Moneyfarm Review’.

Penfold

Penfold is a pension provider that bills itself as a flexible and inclusive alternative to other providers. You do not need to meet a minimum initial investment amount, you can complete the setup process in under five minutes and you can increase, change, or pause your payments at any time. This can be especially useful if you are self-employed or have an irregular income, and so do not want to commit to paying in a certain amount every month. You will not be able to get financial advice from Penfold, so you should be confident that you know how high your pension contributions will need to be in order to sufficiently build up your pension pot.

Find out more about getting a Penfold pension in our independent ‘Penfold pension review’.

PensionBee

PensionBee is a specialist in helping savers find their old workplace pensions and is able to provide the tools, knowledge and experience in consolidating multiple pots into one personal pension scheme. This could be extremely useful for the millions of workers who have had multiple jobs over the years, meaning they have contributed to more than one workplace pension scheme. It is worth noting that if you have paid into a defined benefit or final salary pension scheme in the past, you could end up worse off by consolidating it into a personal pension.

You can find out more and work out whether PensionBee might be a good match for you by reading our independent ‘PensionBee Review’.

Wealthify

Wealthify is another of the UK’s growing number of robo-advisor platforms. It gives customers the choice of five investment plans handily named Cautious, Tentative, Confident, Ambitious and Adventurous. You can choose the one that best matches your risk profile, with the added bonus of an ethical investment option for each plan. This is a great extra for savers looking to make sure that their investments match their position on issues like environmental damage.

Wealthify fees vary depending on which option you choose and how much you invest, plus the annual platform fee of 0.60% up to £100,000 and 0.30% for any portion above that. You can find out more by reading our full ‘Wealthify Review’.

Vanguard

Vanguard is an investment platform that is owned by the funds that customers invest in, which can mean that there is a greater focus on investor outcomes than shareholder profits. It gives investors the choice of building up their pension pot through selecting a ready-made product or building their own portfolio from over 75 own-brand funds. These include ETFs, active funds and index funds, but Vanguard does not offer stocks and shares.

You will need to pay in at least £100 a month and any lump sums will need to be £500 or more, which could be a red flag for savers looking for flexibility. You can find out if Vanguard would suit you by reading our article ‘Vanguard SIPP review: Is it the best low-cost Pension?’.

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Make flexible contributions and withdrawals¹

Provided by our partner

Find out more*

What is a personal pension?

A personal pension is a financial product set up by an individual with the intention of using the funds to finance their income in retirement. It is funded through regular contributions – usually a percentage of your income every month – or irregular lump sums. The money is invested with the intention of growing your pension pot over the course of your working life. With a personal pension, you can choose to invest your money in specific ways or opt to have your pension provider make the investment decisions for you.

Personal pensions differ from workplace pensions because you will need to select the provider yourself and set up the payments directly, rather than your employer doing it for you. Another significant difference is that you will not gain from employer contributions, which you would do with a workplace pension. However, you can still profit from tax relief from the government. Personal pensions benefit from added flexibility compared to workplace pensions, but both will likely be ‘defined contribution’. This means that your retirement income will be based mostly on the value of your pension pot, rather than your final salary.

Both personal pensions and workplace pensions are types of private pensions, which are different to the State Pension. The State Pension is a government benefit that can be claimed by people over the qualifying age who have made enough National Insurance Contributions (NICs). You can read more about the 2024/25 State Pension in our article ‘How much is the UK State Pension?’.

There is more information on the basics of private pensions in our article ‘How do private pensions work?’.

How does a personal pension work?

A personal pension is a type of private pension. Unlike with a workplace pension, you will need to do a bit of legwork in order to set up a personal pension. You choose the provider yourself, decide how much you want to pay in and arrange the payments.

It can be easier to adjust your monthly payments into a personal pension than into your workplace pension. You can also make contributions in irregular lump sums, which you cannot easily do with a workplace pension.

Personal pensions are almost always defined contribution, which means that your retirement income will be based on the value and performance of your pension pot. This can mean you end up with a lower income than if you had a defined benefit workplace pension, though these are now quite rare anyway.

Read more on how to manage your personal and workplace pensions in our article ‘Can I have a personal pension and a workplace pension?’.

With a personal pension, you have the flexibility to invest in the funds that you think will perform best or are most important to you. Alternatively, you could choose a product that makes most of the big decisions for you. You can still benefit from tax relief on contributions into a personal pension, as you would with a workplace pension.

Once you reach retirement age, you have a few different options to try and make the most of your pension pot. You can withdraw part of your pension pot as a tax free lump sum, opt for a drawdown pension or purchase an annuity. We go into more detail on what to do with your pension once you stop working in our article ‘Can I withdraw my pension?’.

Which is the best personal pension provider for me?

The best provider for you will depend on which features are most important to you. If you are concerned about fees eroding the value of your pension pot, you may find that the cheapest provider is the best provider. The range of available investments might be important to you, especially if you only want to invest in ethical funds. This could draw you to a provider that specialises in the kind of investments you want to make, or at least gives you the freedom to pick and choose where your money goes.

Some savers will be desperate to avoid the admin and decision-making that comes with a private pension. This group could be best suited to a robo-managed pension or one that comes with pre-selected funds to invest in. These pension providers could also be a good fit for savers with little investment experience, or who feel they don’t have the right skills.

You can find out more about what type of pension the major providers specialise in by reading our comprehensive reviews.

Steps to set up a personal pension

You will need to open your personal pension yourself. Here are the key steps to follow:

Choose your provider - There are a range of different pension providers in the UK that offer a variety of products. Making your choice can boil down to how many decisions you want to make and how much you are happy to pay in fees, but there are also a lot of other factors to consider. You can opt for the plan that gives you the most flexibility, one that makes it easy to implement your own decisions, or one that takes care of all the decision making for you. Alternatively, you could simply go for the cheapest option, or the one that you think offers the best value for money.
Transfer your existing pensions, or not - You can choose to leave any old workplace or personal pensions where they are, or you could combine all of your existing pension pots into your new one.
Set up regular payments - The most efficient way to fund your personal pension is usually through making regular monthly payments. You can do this easily by setting up a direct debit to coincide with payday, but it might not suit everyone. If you have an inconsistent income, you might choose to pay in irregular lump sums instead.
Watch your money grow - You can usually use your pension provider’s online dashboard to check in on how your funds or pots are performing. You could then make changes by adjusting your risk level or switching to a different fund, depending on the type of pension product you are using.

Vanguard vs Hargreaves Lansdown: How do their key features compare?

Damien — Mon, 03 Feb 2025 11:36:51 +0000

Vanguard Investor and Hargreaves Lansdown* are two of the most popular investment platforms in the UK. In this article, we compare what they offer to investors.

If you are trying to decide which is better to invest your money with, we examine the key features, including the products and services that Vanguard and Hargreaves Lansdown offer.

Vanguard vs Hargreaves Lansdown - which is better?

	Vanguard	Hargreaves Lansdown
Services	LifeStrategy funds Target Retirement funds Personal financial advice for retirement planning	Invest in funds and shares Wealth Shortlist Ready-made portfolios Foreign currency exchange
Products	ISA, General Investment Account, Junior ISA, SIPP Managed Stocks & Shares ISA Managed SIPP	Active Savings Cash ISA Fund and share account ISA, General Investment Account, Lifetime ISA, Junior ISA, SIPP, Junior SIPP
Minimum investment	£500 or £100 monthly investment	£100 for an ISA or SIPP (or a regular £25 per month) £1 for a fund and share account
Platform fees	0.15% (capped at £375 for accounts over £250,000) 0.25% annual account management fee for the managed ISA Additional underlying fund charges A minimum monthly fee of £4 per month (£48 per year) will apply to self-managed ISAs, SIPPs & GIAs from 28/02/2025	£0-£250,000 - 0.45% £250,000-£1m - 0.25% £1m-£2m - 0.10% Over £2m - 0% No charge for Junior ISAs
Customer reviews (Trustpilot)	3.7/5.0	4.2/5.0

Vanguard vs Hargreaves Lansdown - services

Vanguard Investor is principally a way for investors to access Vanguard funds. As such, it has a choice of "build-your-own" portfolios or its popular LifeStrategy range. While it also has options for retirement planning, including its Target Retirement funds, as well as some guides and market commentary, it has a more pared-back offering than many of the other platforms.

Hargreaves Lansdown, in contrast, is the largest investment platform in the UK and is characterised by the amount of choice it offers to customers, with a wide range of products and services for beginners through to seasoned investors. It facilitates direct investments in funds and shares, has model ready-made options and also has foreign currency exchange. This is against the backdrop of it being a financial advisory firm, with a wealth of research tools and resources.

Vanguard vs Hargreaves Lansdown - products

Hargreaves Lansdown has a wider array of products available than Vanguard. While both platforms offer stocks and shares ISAs, GIAs, JISAs and SIPPs, Hargreaves Lansdown also has savings accounts, a cash ISA, a fund and share account, a Junior SIPP and a LISA. Indeed, even Vanguard's SIPP is relatively new, having been launched in February 2020.

It is worth remembering too that the products in the Vanguard range can only hold Vanguard funds within them, unlike Hargreaves Lansdown's, which can be populated by funds from many different providers.

Vanguard vs Hargreaves Lansdown - minimum investment

For those looking to try one of the platforms without tying up a large sum of money at the outset, Hargreaves Lansdown has a minimum investment of just £1 for its fund and shares account, or £100 for its ISA or SIPP, although this goes down to £25 if it is a monthly investment. Vanguard, meanwhile, requires a minimum investment of £500 as a lump sum, or £100 for a monthly investment.

Vanguard vs Hargreaves Lansdown - fees

Vanguard has exceptionally low fees compared with other investment platforms, charging a platform fee of just 0.15%, which is capped at £375 for investors with accounts worth more than £250,000. However, from February 2025, Vanguard will apply a minimum monthly fee of £4 per month (£48 per year), meaning Hargreaves Lansdown would be cheaper for those with less than £10,666 to invest. Although Hargreaves Lansdown is more expensive once you pass that threshold, it does offer a wider range of investments, as well as a wealth of tools and services. Another reason to consider Hargreaves Lansdown is that it recently scrapped all fees for its Junior ISA.

For those looking to solely invest in Vanguard funds, using Vanguard Investor makes sense if you are investing up to £96,000. If you are investing more than that amount, it can actually work out cheaper to invest with Interactive Investor*, which we explain in more detail in our article "Vanguard Investor UK review - is it the best in the market?"

Vanguard vs Hargreaves Lansdown - customer reviews

Both Vanguard and Hargreaves Lansdown perform well on the independent customer review site Trustpilot, with Hargreaves Lansdown achieving a 4.2 out of 5.0 score, while Vanguard achieved 3.7 out of 5.0. 62% of respondents classified Vanguard as "Excellent", with 60% of reviewers putting Hargreaves Lansdown into that category. Hargreaves Lansdown received praise for its efficiency and good customer service, while Vanguard got plaudits for its low fees.

Summary - Vanguard vs Hargreaves Lansdown

If you are specifically interested in investing in passive funds, Vanguard's ever-popular LifeStrategy range may well be appealing. If this is the case, if you're investing more than £10,666 and less than £96,000, investing through Vanguard Investor will work out to be the cheapest option. If, however, you are looking to invest more widely and value choice, Hargreaves Lansdown is an attractive option, with a great variety of products and services.

For more in depth analysis of each platform, read our Vanguard review and Hargreaves Lansdown review.

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses - Hargreaves Lansdown, Interactive Investor

Wealthify vs Vanguard

Damien — Mon, 03 Feb 2025 11:30:58 +0000

Wealthify and Vanguard Investor are both popular options in the investment platform space, offering a good range of products and reasonable fees. If you are trying to decide which one to invest your money with, this article lays out each platform's key features and services, as well as their disadvantages and advantages.

Wealthify vs Vanguard - which is better?

	Wealthify	Vanguard
Minimum investment	£1 (or £50 for pensions)	£500 or £100 monthly investment
Platform fees	0.60% flat fee Additional underlying fund charges	0.15% (capped at £375 for accounts over £250,000) 0.35% annual account fee for its Managed ISA Additional underlying fund charges A minimum monthly fee of £4 per month (£48 per year) will apply to self-managed ISAs, SIPPs & GIAs from 28/02/2025
Services	Original Plans Ethical Plans	LifeStrategy funds Target Retirement funds Build-your-own portfolios Personal financial advice for retirement planning
Products	ISA, GIA (General Investment Account), Junior ISA and SIPP, Instant access savings account (earn 4.39% AER variable paid monthly)	ISA, GIA (General Investment Account), Junior ISA, SIPP Managed ISA Managed SIPP
Customer reviews (Trustpilot)	3.9/5.0	3.7/5.0

Wealthify vs Vanguard - services

Both Wealthify and Vanguard Investor have ranges of risk-rated, multi-asset portfolios designed to meet the needs of a variety of investors. Wealthify has a choice of 5 portfolios in both its original and ethical ranges:

Cautious
Tentative
Confident
Ambitious
Adventurous.

Vanguard also has 5 options in its Lifestrategy portfolios, ranging from one with 20% equity exposure through to 100% equity exposure. They are as follows:

LifeStrategy 20%
LifeStrategy 40%
LifeStrategy 60%
LifeStrategy 80%
LifeStrategy 100%

The Target Retirement portfolios, meanwhile, are structured based on when you want to retire. It also has the option for you to build your own portfolio, choosing from across its range of around 75 Vanguard funds.

Wealthify vs Vanguard - products

Both Wealthify and Vanguard offer the products you would expect from large-scale platforms: ISAs, General Investment Accounts, Junior ISAs and SIPPs. However, they don't have Lifetime ISAs or Junior SIPPs, which are offered by some of their competitors. If you are particularly interested in these products, read our articles "Compare the best and cheapest Lifetime ISA" and "Best and cheapest Junior SIPPs".

Wealthify vs Vanguard - minimum investment

If you are looking to try an investment platform without having to invest a significant amount upfront, Wealthify allows you to open an account with just £1. For Vanguard, meanwhile, the minimum investment requirement is £500 as a lump sum or a regular monthly investment of £100.

Wealthify vs Vanguard - fees

Vanguard Investor's platform fee of 0.15% (capped at £375 for accounts over £250,000) is extremely competitive and is significantly cheaper than the 0.60% charged by Wealthify. However, from February 2025, Vanguard will apply a minimum monthly fee of £4 per month (£48 per year), meaning Wealthify would be cheaper for those with less than £8,000 to invest. It's also worth noting that Vanguard only offers portfolios consisting of its own in-house funds, while Wealthify offers exposure to funds in a variety of different investment houses.

Wealthify vs Vanguard customer reviews

According to the independent customer review site Trustpilot, both Wealthify and Vanguard score highly with their customers. Wealthify has a score of 3.9 out of 5.0 while Vanguard has a score of 3.7 out of 5.0. Both have an official rating of "Great". Both platforms are praised for their customer service, while Vanguard's low fees are also singled out as a reason for its high rating.

Summary - Wealthify vs Vanguard

On the surface, Wealthify and Vanguard have very similar propositions, with the same products available and 5 risk-rated funds consisting of passive investments. The difference comes in the price, with Vanguard working out cheaper than its rival, as well as Vanguard's option to build your own portfolio. However, Vanguard only offers its own funds within its portfolios, while Wealthify has funds from different investment houses.

For more details on each platform, read our Wealthify review and Vanguard Investor review.

Freetrade Review 2025 – can you trade stocks for free?

Damien — Mon, 03 Feb 2025 11:24:47 +0000

What is Freetrade?

Freetrade* launched in 2018 with the simple aim of making stock trading and stock ownership accessible and affordable. There are none of the fancy calculators, guides or research on offer such as those provided by investing stalwarts such as Hargreaves Lansdown and AJ Bell, but what you do get is a low-cost share trading account that allows you to build up a portfolio starting from just £2, solely through a smartphone app. You can even hold your shares in an ISA so any interest and dividends are tax-free.

It was founded by Adam Dodds and Davide Fioranelli, both of whom previously worked in corporate finance for KPMG. The platform’s unique selling point is that its app lets users buy and trade real shares with zero commissions or fees via their smartphone.

Freetrade has attracted a loyal following of more than 1,500,000 registered users. Many have contributed to crowdfunding rounds that have raised more than £10m and the platform has also benefited from a $7.5m Series A investment from one of Europe’s top tech-focused VC funds, Draper Esprit. On 16th January 2025, it was announced that Freetrade had been sold for £160m to online Trading platform IG, with the sale expected to be completed in mid-2025.

1 minute summary - Freetrade review

Freetrade allows you to build a portfolio from as little as £2
Buy, sell and hold stocks and ETFs commission-free
3 plans to choose from
Money to the Masses readers can receive a FREE SHARE worth up to £100* when they deposit at least £50 into a Freetrade ISA (capital at risk) or Freetrade basic account (capital at risk)

Freetrade offer

Free share worth between £10 and £100 when you sign up

New users that sign up to a Freetrade account and deposit or transfer at least £50 (capital at risk) will receive a FREE SHARE worth between £10 and £100*.

How does Freetrade work?

Share trading can be pricey on traditional DIY investment platforms. This is mainly because providers such as Hargreaves Lansdown, AJ Bell and Interactive Investor have a stronger focus on funds.

In contrast, Freetrade is solely focused on shares. You can build up your own portfolio from just £2 and there are no fees for buying or selling UK shares and trades are instant. You can purchase shares in companies listed in the UK, Europe and the US as well as exchange-traded funds (ETFs). There is nothing to pay for a basic trading account other than stamp duty and fund charges for ETFs. If you are buying overseas shares then you will pay a foregn exchange fee of 0.99%, 0.59% or 0.39%, depending on the type of account you choose. Holding your shares in an ISA will require an upgrade to a subscription plan at a cost of either £5.99 or £11.99 per month. There are two options for depositing cash. Either set up a bank transfer or make a direct payment from a debit or credit card.

There may be a wait for a bank transfer to clear but a card payment will be instant meaning you can start trading straight away. You can withdraw funds from Freetrade to the same bank account by transferring from the app for free. A standard withdrawal will take three to five working days. Cash from sold investments cannot be requested for withdrawal until the cash has settled. This is completed two days after the trade has executed.

How to set up a Freetrade account

Freetrade has a website where you can find information about the platform, read reviews and chat with other users on its forum, however, you'll need to download either its Apple or Android app on your smartphone to open an account. All new customers that sign up for a basic account via Money to the Masses and deposit a minimum of £50 will receive a FREE SHARE worth between £10 and £100* (capital at risk).

Once you have the app installed, the setup process takes just a few minutes. You start by entering your email and will be sent a verification code to activate your account.

Once you have entered your personal details such as your name, address, date of birth and national insurance number you are ready to start trading. Users can transfer funds by setting up a linked bank account or make a payment using Apple or GooglePay. The app lets you search for stocks and ETFs, see pricing and performance over a day, week, month or all time and see the most popular companies. Once you have invested you can also monitor how your portfolio is performing and buy and sell through the app. The buying and selling process is displayed in a user-friendly way, showing the share price and how much of the stock you will receive based on how much you want to buy.

Freetrade features

Commission-free investing – DIY investment platforms can charge anything from £1 to more than £10 per trade for those buying and selling shares. Freetrade doesn’t charge anything for share dealing.
Low minimum investment – You can start investing in shares from just £2.
More than 6,200 UK, European and US stocks and ETFs – Invest in some of the world’s largest and best-known listed companies such as Google, Facebook and Apple or try to spot rising stars.
Fractional shares – Invest in popular US stocks from just £2
Cash investments – Invest in low-risk ETFs that have the potential to provide a high yield
UK Treasury bills – Achieve an interest rate of 5%+ by accessing UK government-backed treasury bills. (Rate changes weekly)
Flexible ISA – Earn interest and dividends from shares tax-free through an ISA. You can also transfer old ISA money to your Freetrade ISA account. As the ISA is flexible, you can withdraw money from your ISA throughout the tax year and, provided you return it within the same tax year, you won’t lose that part of your allowance.
Free share – Receive a free share worth between £10 and £100 when you sign up for a basic account via Money to the Masses* and deposit a minimum of £50 (capital at risk).
Shareholder perks – Some companies will provide shareholders with freebies once you earn a minimum amount. For example, if you own 500 shares in Fuller Smith & Turner, you can get a discount card for its pubs and hotels.
Most traded shares – This allows users to see the most popular shares and ETFs bought and sold on the Freetrade app over the last week, ranked by the total value of buy orders.
Share lending – Freetrade allows you to generate additional income by lending out your owned shares in a GIA or SIPP via its share lending programme. You'll keep 50% of the fees and the other 50% will be retained by Freetrade and its partners to cover the costs of operating the share lending programme.

How much does Freetrade cost?

A breakdown of Freetrade's costs.

	Freetrade Cost
Basic trades	Free
Basic account	Free
ISA with plus account	Free
ISA with standard account	£5.99 per month (or £59.88 if you opt to pay annually)
Freetrade Plus (Including SIPP)	£11.99 per month (or £119.88 if you opt to pay annually)
Standard bank transfer	Free
FX fees	0.99% with Freetrade Basic, 0.59% with Freetrade Standard or 0.39% with Freetrade Plus
Custody fee on UK Treasury bills	No charge currently – Future fees are likely to be 0.45% with Freetrade Basic or 0.10% with ISA or ISA plus account.

Freetrade’s Basic account is free. It lets you buy, sell and hold the full range of over 6,200 shares. If you want to earn your interest and any dividends tax-free, you will need to open an ISA, which requires an upgrade to the standard plan, costing £5.99 per month or £59.88 per year. If you are buying overseas stocks, the exchange rate will also be reflected in the price. This is based on the price plus FX fees of 0.99%, 0.59% or 0.39%, depending on the type of account you have.

Freetrade Basic vs Freetrade Standard vs Freetrade Plus

Freetrade offers three different plans and we provide a detailed review of each of the plans below. We also provide a comparison table so that you can compare the features and costs of all of the Freetrade plans.

Freetrade Basic Plan

The Freetrade ‘Basic' plan allows users to buy and sell shares via a General Investment Account (GIA) commission-free. There is no monthly subscription fee and users can access around 4,700 stocks and ETFs. The Freetrade basic plan previously only allowed access to around 1,500 shares, however, users can now get access to the full range of over 6,200 stocks and ETFs. FX fees for buying overseas stocks are charged at 0.99% on this plan. Freetrade also pays monthly interest of 1% on up to £1,000 of uninvested cash.

Freetrade Standard Plan

The Freetrade ‘Standard' plan is a paid subscription service that gives users access to a Flexible Stocks and Shares ISA in addition to a General Investment Account. Standard plan subscribers can access the full range of over 6,200 stocks and ETFs. In addition, Freetrade standard plan users can earn 3% interest on up to £2,000 of uninvested cash. The price for the Freetrade basic subscription plan is £5.99 per month or £59.88 if you opt to pay annually. FX fees for buying overseas stocks are charged at 0.59% on this plan.

Freetrade Plus Plan

The Freetrade ‘Plus' plan is a paid subscription service that gives users access to a Self-Invested Personal Pension (SIPP) in addition to a General Investment Account and flexible Stocks and Shares ISA. Freetrade plus users also get access to the full range of over 6,200 stocks and ETFs as well as access to priority customer support. In addition, Freetrade plus users can earn 5% interest on up to £3,000 of uninvested cash. The price for the Freetrade plus subscription plan is £11.99 per month or £119.88 if you opt to pay annually. FX fees for buying overseas stocks are charged at 0.39% on this plan.

How do the Freetrade plans compare?

	Freetrade Basic Plan	Freetrade Standard Plan	Freetrade Plus Plan
Cost	£0.00	£5.99 per month (or £59.88 billed annually)	£11.99 per month (or £119.88 billed annually)
FX fees	0.99%	0.59%	0.39%
General Investment Account	Yes	Yes	Yes
Stocks and Shares ISA	No	Yes	Yes
Self-Invested Personal Pension (SIPP)	No	No	Yes
Commission-free trading	Yes	No	Yes
Investment Range (Stocks and ETFs)	6,200+	6,200+	6,200+
Interest paid on uninvested cash	Yes (1% on up to £1,000)	Yes (3% on up to £2,000)	Yes (5% on up to £3,000)
Priority customer service	No	No	Yes

How does Freetrade make money?

Freetrade’s basic service is free but it generates income from its two paid subscription plans as well as charges for same-day bank transfers.

Is Freetrade safe?

Freetrade is regulated by the Financial Conduct Authority so it must follow rules on segregating client money and treating customers fairly. You can complain both to the platform and the Financial Ombudsman Service if you are unhappy with the offering. Up to £85,000 of your money will also be protected by the Financial Services Compensation Scheme if Freetrade becomes insolvent. Losses that occur through poor investment performance are not covered and so you are fully responsible for the investment decisions you make.

Is Freetrade available in Europe?

Freetrade is available in the UK and Sweden. It has plans to expand into the rest of the European Economic Area (EEA) in the near future.

Alternatives to Freetrade

Freetrade vs Trading 212

Trading 212 is one of Freetrade's closest rivals. Both apps work in a similar way by offering a cheap, user-friendly way of dealing shares and ETFs. Trading 212 offers a larger choice of shares with around 12,000 stocks listed in the UK, USA and Europe, compared to Freetrade which offers over 6,200. Freetrade users need to upgrade to one of its subscription plans to access an ISA whereas Trading 212 doesn’t charge. Freetrade does however offer new users a free share worth between £10 and £100* when they sign up and deposit a minimum of £50. Check out our independent ‘Trading 212 review‘.

Freetrade vs eToro

eToro is a popular online trading app with over 13 million users worldwide. eToro users must start with an initial investment of $10 compared to just £2 with Freetrade. Freetrade and eToro both offer commission-free investing however eToro users will have to pay a conversion fee of 0.5% every time they deposit money as well as a withdrawal fee of $5 if they wish to withdraw their money. Check out our independent ‘eToro review‘.

Freetrade vs Moneybox

Freetrade may offer a low-cost way to invest in shares but you can get exposure to the markets without much effort using Moneybox. The Moneybox app links to your bank account and rounds up your spending, putting your spare change into a choice of products from a savings account to a Lifetime or stocks and shares ISA. Its savings product and Lifetime ISA is free while the stocks and shares ISA could work out cheaper than Freetrade’s at just £1 a month – waived for the first three months – however, it does charge a platform fee of 0.45%. The Moneybox ISA invests in funds rather than shares and may get more expensive depending on the underlying fund charges and strategy chosen. Moneybox users can also invest their spare change in a pension that costs 0.45% per month up to £100,000 and 0.15% over £100,000 plus fund charges. Read our ‘Moneybox review‘.

Freetrade vs Plum

It can be hard to work out how much you can afford to invest into the financial markets. Plum helps by analysing your spending and using its algorithm to decide how much you have left to invest or save. Plum lets you invest in either just shares or a mixture of shares and bonds. Investing in an ISA with the app costs £2.99 per month, of which the first is free, with management fees that average 0.48%. Read our ‘Plum review‘.

Freetrade customer reviews

The Freetrade app is rated highly on both the Apple and Google Play app stores, with a ranking of 4.3 on Apple and 3.9 on Google Play. It was named the best online trading platform at the 2019, 2020, 2021, 2022 & 2023 British Bank Awards and was named the ‘Best Commission Free Broker' by the Good Money Guide 2021.

Independent review site Trustpilot rates it 3.9 out of 5.0 from around 4,600 reviews, achieving a status of ‘Great'. The majority or 66% rank it as excellent and cite its user-friendly app and good customer service. Around 19% rate it as poor or bad, raising individual issues such as payments not reaching the app or being unable to download onto a new phone if a device gets lost.

Pros

Easy setup – You can be invested in the stock markets within minutes with a fast and simple setup process.
User-friendly – The app isn’t too complex and is divided into five simple sections. View your portfolio, get insights into how your money is allocated across sectors, search and view information on the most popular stocks and ETFs, see your recent activity and top up your account. All this can be done quickly on your smartphone app.
Low cost – Stock trading can often be pricey on traditional investment platforms but Freetrade has removed any commission meaning you can hold your shares in a low-cost ISA.
Community – You can get hints and tips from other users through Freetrade’s regularly updated blog. It also features updates from platform staff.
Earn interest on uninvested cash – Earn between 1% and 5% interest on up to £3,000 of uninvested cash

Cons

Risk of making losses – The key to successful investing is diversification. The downside of the app being so user-friendly is that it can be easy to just buy stocks you like but not get the right balance, which could mean if one sector has an issue your whole portfolio could collapse. There are not many clear warnings about the risk of loss when buying shares on the app. It can also be easy to get addicted due to how easy it is to buy and sell shares. It may be useful for the app to set payment limits similar to gambling websites.
Lack of research – Other platforms have plenty of research tools so you can dig into a company’s performance and recent stock market updates to get a sense of how the stock is progressing and what the future could hold. Freetrade does offer graphs showing the historical share price but little else. Its blogs advise that you should do your research and also highlight the type of factors to look out for, but this all has to be carried out on your own, outside of the app.

Conclusion

Freetrade helps bring stockbroking out of the stuffy city offices and into the 21st century with an easy to use app and low-cost offering. It is good for beginner investors and those that have small amounts to invest as there are no administration costs or subscription fees on its basic plan. Additionally, new users who sign up via Money to the Masses and deposit a minimum of £50 can receive a FREE SHARE worth between £10 and £100* (capital at risk).

Users must remember that just because the app is easy to use, investing in shares is still risky business and requires research and focus to build a diversified portfolio to ensure your money is put to good use.

If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers – Freetrade

What is going to happen to UK house prices?

Damien — Mon, 03 Feb 2025 10:47:54 +0000

If you are planning to buy or sell a house, you will be interested to know what is likely to happen to house prices and whether now is a good time to move. Whether you already own a property or are a first-time buyer, an adjustment in house prices can be beneficial. A drop in price in the area you wish to buy in can save you money, whereas a rise in your current property's value means you can secure a good price and have more capital to invest in your next purchase.

House prices are determined by a number of factors, including:

The overall health of the economy - The unemployment rate and wage growth both play a part in consumer confidence, which impacts how confident people are to move and how much they are willing to pay.
Interest rates -The Bank of England sets the base interest rate level and, if it is relatively low, people can afford to spend more on a property as the cost of borrowing is lower. This tends to push house prices up. Conversely, once rates start going up, mortgages become more expensive and house prices tend to fall as fewer people opt to move.
Supply and demand - Local house prices will be determined by how desirable a particular location is and how many similar properties are available. If, for example, a new housing development is completed, this can reduce the value of properties nearby as there is greater competition for buyers. Conversely, some properties will always command a premium because they are in a sought-after area where the housing stock is limited.

What has been happening to house prices?

There are a number of respected sources of data relating to house prices, including monthly indices that provide information on house price changes over the previous month and over the preceding 12 months. Below is a summary of each published index.

The UK House Price Index

The UK House Price Index is the most accurate of the various house price indices as it is calculated based on completed sales, both for cash sales and those with a mortgage. The wide-ranging data is sourced from HM Land Registry and other government sources. However, while it gives a very clear picture of what is going on in the housing market, there is a lag in the data being published. The latest data currently available relates to November 2024.

It shows that the average house price in the UK currently stands at £290,000. The annual house price change is at 3.3% in the 12 months to November 2024.

UK House Price Index	November 2024	October 2024	September 2024	August 2024	July 2024
Monthly change	-0.4%	0.2%	-0.3%	2.8%	0.6%
Annual change	3.3%	3.4%	2.9%	1.5%	2.2%
Average house price	£290,000	£292,059	£291,828	£293,000	£289,723

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Nationwide House Price Index

The Nationwide House Price Index is calculated based on its own data on mortgage approvals. House prices rose by 0.1% in January 2025, when compared with the previous month (based on the 'seasonally adjusted' figure). The annual change in house prices currently stands at 4.1%.

Nationwide said "The price of a typical UK home rose by 4.1% year on year in January, a modest slowing in the annual pace of growth compared with December. House prices increased by 0.1% month on month, after taking account of seasonal effects"

“The housing market continues to show resilience despite ongoing affordability pressures. As we highlighted in our recent affordability report, while there has been a modest improvement over the last year, affordability remains stretched by historic standards. A prospective buyer earning the average UK income and buying a typical first-time buyer property with a 20% deposit would have a monthly mortgage payment equivalent to 36% of their take-home pay – well above the long-run average of 30%. Furthermore, house prices remain high relative to average earnings, with the first-time buyer house price to earnings ratio standing at 5.0 at the end of 2024, still well above the long run average of 3.9. Consequently, the deposit hurdle remains high. This is a challenge that has been made worse by the record increase in rents in recent years, which, together with the cost-of-living crisis more generally, has hampered the ability of many in the private rented sector to save"

Nationwide House Price Index	January 2025	December 2024	November 2024	October 2024	September 2024
Monthly change in house prices	0.1%	0.7%	1.2%	0.1%	0.6%
Annual change	4.1%	4.7%	3.7%	2.4%	3.2%
Average price	£268,213	£269,426	£268,144	£265,738	£266,094

Halifax House Price Index

The Halifax House Price Index is calculated from its own database of approximately 300,000 mortgage approvals. Recent data reveals that average house prices fell 0.2% in December, following a modest rise of 1.3% in November. December's figures reveal an annual change of +3.3%.

Halifax said "The housing market was broadly steady at the start of 2024, with house price growth taking off from the summer onwards. In the latter half of the year, house prices grew in response to the falls in mortgage rates, alongside income growth, both leading to financial pressures somewhat easing for buyers. Impending changes to Stamp Duty thresholds have also given prospective first-time buyers even greater motivation to get on the housing ladder and bring any home-buying plans forward. Together, these elements meant mortgage demand picked up, hitting the highest level in over two years and back to levels seen pre-pandemic".

Halifax House Price Index	December 2024	November 2024	October 2024	September 2024	August 2024
Monthly change in house prices	-0.2%	1.3%	0.2%	0.3%	0.3%
Annual change	+3.3%	+4.8%	+3.9%	+4.7%	+4.3%
Average price	£297,166	£298,083	£293,999	£293,399	£292,505

Rightmove House Price Index

Unlike the other indices that are based on mortgage approval data or completed sales, the Rightmove House Price Index looks at the average asking prices for properties listed on the Rightmove portal. This is a good reflection of sellers' confidence but doesn't clearly demonstrate how many of those properties end up going under offer at a much lower price or, in fact, don't end up selling at all. Its most recent data shows that the average asking price rose 1.8% in January, which reverses the fall of 1.7% in December.

Rightmove said "This is the largest monthly jump in prices at the start of the year since 2020, as new seller asking prices bounce back from the usual seasonal fall in December and begin 2025 with some new year optimism. Average asking prices are still £8,942 below May 2024’s peak, reflecting buyer affordability constraints. However, with a record number of early-bird new sellers coming to market from Boxing Day and into January, there seems to be pent-up demand to move. The number of new properties coming to market is 11% ahead of the same period at the start of last year, while the average number of homes for sale per estate agency branch is currently at the highest for this time of year in 10 years. High buyer choice has contributed to increases in buyer enquiries and sales agreed compared to a year ago, but also means fierce seller competition to attract these new year buyers. Some sellers may find that they have been too optimistic on their initial pricing and get left on the shelf in favour of more competitively priced neighbours".

Rightmove House Price Index	January 2025	December 2024	November 2024	October 2024	September 2024
Monthly change	1.7%	-1.7%	-1.4%	0.3%	0.8%
Annual change	1.8%	-1.4%	1.2%	1.0%	1.2%
Average asking price	£366,189	£360,197	£366,592	£371,958	£370,759

What is driving the change in house prices?

The housing market has been tumultuous over the past 2 years, with the pandemic having a direct impact on house prices. Initially, there was a slump as the country entered into lockdown for the first time in March 2020 before a massive resurgence from June 2020, when society began opening up again. A key driver was the introduction of a temporary stamp duty holiday on 8 July 2020, which offered buyers a saving of up to £15,000 on their tax bill when purchasing a house. This acted as a stimulus, ironically driving house prices up by an average of £15,409 between June and November 2020, according to figures from the Halifax, in effect wiping out the stamp duty saving.

The main stamp duty holiday ended at the end of June 2021, with a tapering until the end of September 2021, during which time buyers could save a maximum £2,500 off their bill. There was a corresponding uptick in house prices in the run-up to the deadlines for the end of each of these phases and, overall, there was double-digit annual growth across 2021. This was bolstered by historically low mortgage rates, as well as the reintroduction of higher loan-to-value mortgage deals.

However, the mini-Budget presented by former Chancellor Kwasi Kwertang on 23rd September 2022 sent shock waves through the mortgage market resulting in a rapid increase in mortgage interest rates. In August 2024, the Monetary Policy Committee (MPC) voted to cut interest rates to 5.00%, having kept rates at 5.25% for the previous seven meetings (September, November, December, February, March, May and June). In November 2024, rates were cut by a further 0.25%, meaning the Bank of England base rate currently stands at 4.75%

Markets had predicted another rate cut before the end of the years and so many of the major lenders had already priced these in when releasing their latest mortgage deals. It means average fixed-rate interest rate deals are likely to remain at around 5.0% to 6.0% for the next few months.

As well as tightening lending criteria mortgage lenders are also stress-testing mortgage applications assuming rates as high as 8%. Higher mortgage costs will likely mean that there will be fewer prospective purchasers able to secure a mortgage thus putting downward pressure on house prices. In 1992 the average house price fell by about 20% following a rapid rise in the Bank of England base rate. Also, bear in mind that the cost of living crisis will likely mean more people will fail lenders' affordability assessments going forward which will be another headwind for the property market.

Is now a good time to move house?

With the Bank of England opting to increase the base rate several times in recent meetings, borrowing has become more expensive, limiting the amount you can secure for your house purchase.

With house prices still at elevated levels, we could continue to see them trending downwards over the coming months, which, if you are a first-time buyer or moving to a new area, could save you money if you decide to wait. If, however, you are a mover and have to sell your current property, it may pay to make the most of the tail-end of this recent house price boom.

Anecdotally, estate agents are reporting there are still significant numbers of people looking to move with demand outstripping supply but this could change. This means buyers have to remain quick-thinking and decisive when house-hunting.

How do I know what my property is worth?

While it is useful to consider the broader market trends for the UK, it's also important to work out what is happening in your local area if you are planning to buy or sell a property. There can be a great deal of variation in the price of a house on one street compared to the same style of house on an adjacent street, so it pays to do your homework. Good sources of information include:

Property websites - Sites such as Rightmove and Zoopla have features that give you an estimate of what your house is worth based on its sales history and what other local properties have sold for. These tools are not completely accurate but give you a good starting point to work out how much you could reasonably expect to sell your house for
Land registry data - It is possible to access the sold prices for all the properties in your local area, sorted by how long ago the property sold. This gives a good indication of what properties are actually selling for, compared with the asking prices that they are being marketed at.
Estate agent - A good local agency with properties on its books similar to the one you are trying to sell will be able to give you the best idea of what you are likely to be able to sell your property for. It is a good rule of thumb to get valuations from a few different agents as there could be some variation in the valuations they provide. Read our article: How to find the best & cheapest local estate agent in seconds.

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Chatterbox – February 2025

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