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 We like fixed-rate deals

If the Bank of England's base rate goes up this year mortgage rates will march up instantly though savings rates may be slow to follow.

When choosing a savings account some may consider taking out a fixed-rate product to be a gamble. But there are still some good deals in the fixed rate market at present.

If you don't want to tie your money up, taking out a good two-year fix may well be a safe investment. Lambeth building society is the current market leader in the two-year products paying a rate of 5.11% (gross) on £1,000.

Capital One, which dominates the fixed-rate market, has a good rate of 5.05% for £5,000, while Julian Hodge Bank has 5.0% for £1,000. All accounts are worth a punt and pay decent rates compared to their variable counterparts.


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