Hydroxide-bridged FeIII4LnIII2 clusters having the general formula [Fe4Ln2(μ3-OH)2(mdea)6(SCN)2(NO3)2(H2O)2]·4H2O·2MeCN {Ln = Y (1), Dy (2), mdea = N-methyldiethanolamine} were synthesized and magnetically characterized. The thermal relaxation of the magnetization for 2 and the diluted FeIII4DyIIIYIII complex 3 (with and without applied field) has been analyzed. The diluted sample shows a dominant QTM at low temperatures that can be removed with a 0.15 T dc field. Both 2 and 3 show moderately high Ueff barriers and exhibit hysteresis loops until 5 K.