Paragon Bank has relaunched its double access ISA, which pays 4.50% AER and allows for savers to make two withdrawals within a 12-month period. If three or more withdrawals are made in this period, the rate drops to 1.25% AER. The minimum balance is £1,000 and the maximum balance is £500,000. The launch comes as industry data revealed that there is £54bn in adult cash ISA savings earning 2% AER or below, with the majority held in instant access accounts.

Access Financial Services is introducing a new internal referral initiative, named Access All Areas. The mortgage and protection brokerage has rolled out the scheme to target the company’s 260-strong network of self-employed mortgage and protection advisers, empowering them to collaborate by passing on leads to their colleagues when they encounter financial opportunities outside their immediate expertise. The roll out of the initiative began with a pilot phase in early February, supported by a series of education webinars, which aimed to broaden advisers' understanding of various financial products, including those that they might not typically handle in their day-to-day operations.

Loughborough Building Society has launched a universal credit calculator to support its intermediary partners in assessing affordability for its clients receiving universal credit and other benefits. Available through the society’s website, the interactive tool clarifies how various income sources factor into a client’s borrowing requirements and what the lender will accept. The following benefits will be assessed at 100% of income: universal credit, child benefit, job seekers’ allowance, pension credit, carers’ allowance, attendance allowance and constant attendance allowance.

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