UK Money App News: August 2026

Three things worth knowing if you run your money through an app this week. The top of the savings table has thinned out, fixed mortgage rates are creeping back up even though the base rate has not moved, and the free cash on offer for switching current account is still worth a look.

Easy-access savings slip, and LemFi is the last app at 5%

The top of the easy-access table has lost some of its shine. In Moneyfacts’ 6 August figures, LemFi’s Instant Access account now leads the easy-access sector on its own at 5.00% AER, propped up by a 1.96 percentage point bonus, after cuts elsewhere thinned out the 5% club that also held Revolut a fortnight ago. The best flat rate that carries no bonus is cahoot’s Simple Saver at 4.52% AER. Cash ISAs went the same way: Moneyfacts’ 4 August ISA roundup notes the top easy-access ISA dipped this week, with Sidekick’s Cash ISA holding first place at 4.66% AER, including a 1.43 point bonus for six months. The lesson for app savers is the familiar one: the headline rate leans on a bonus that expires, so note the date it drops and be ready to move. Our guides to the best easy-access savings apps and the best cash ISA apps show how the app rates line up. Sources: Moneyfacts weekly savings roundup and Moneyfacts weekly ISA roundup.

Fixed mortgage rates edge up, though the base rate held

Fixed mortgage rates have started drifting up again after falling through June. As of 6 August, the best two-year fix sits around 4.32% AER at Danske Bank at 60% loan-to-value, the best five-year fix is 4.50% at Danske and Halifax, and the cheapest two-year tracker is just under 4% at 3.99% from Barclays. Nationwide, NatWest and Barclays have all raised selected fixed deals, while a few lenders such as Nottingham Building Society are still trimming. This is a swap-rate story rather than a base-rate one: the Bank of England held Bank Rate at 3.75% on 30 July, so the movement comes from lenders’ funding costs and their bets on where rates go next, not from the Bank. If your deal ends this year, it is worth locking a remortgage offer early, since most can be held for months and swapped if something cheaper appears. Source: HomeOwners Alliance best mortgage rates.

Switch bonuses reach £220 as banks compete for your account

The free cash for moving your current account is still on the table this month. In Be Clever With Your Cash’s 3 August roundup, HSBC leads with £220 for switching, which needs a £2,000 deposit, £500 of debit card spending and two Direct Debits moved within 60 days. NatWest and RBS both pay £200 for paying in £1,250 and logging into the app, Barclays offers £200 on its Blue Rewards account, and Nationwide and first direct each pay £175. The switch runs through the Current Account Switching Service, which moves your Direct Debits and standing orders for you, and most offers are limited to once per person, so it pays to pick the account you actually want to keep rather than chase the headline sum. Our roundups of the best bank switch offers and the best banking apps cover which accounts are worth staying with. Source: Be Clever With Your Cash switching roundup.