Brand Logo Moneyfacts Group plc
Telephone Icon T: 01603 476476 Email Icon E: enquiries@moneyfacts.co.uk Twitter Icon LinkedIn Icon

Moneyfacts Pick of the Week - 02/12/2021

Image of Moneyfacts.co.uk 'Pick of the Week' Logo Image of Moneyfacts.co.uk 'Pick of the Week' Logo Image of Moneyfacts.co.uk 'Pick of the Week' Logo
Rachel Springall, Press Officer
Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel
02/12/2021

Moneyfacts Pick of the Week

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfacts.co.uk.

This week, our resident Finance Expert, Rachel Springall, has analysed the following deals, along with their perks, of note:

Moneyfacts Pick of the Week

The Moneyfacts.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

Brief product details, together with independent Moneyfacts analysis, can be used with confidence in your finance sections. You can select one or two products to sit beside a relevant story or use them all as a general feature provided they are sourced to our expert at Moneyfacts.co.uk.

This week, our resident Finance Expert, Rachel Springall, has analysed the following deals, along with their perks, of note:

Savings

United Trust Bank – UTB 15 Month Bond

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“United Trust Bank has increased a selection of its fixed bonds this week, including its UTB 15 Month Bond which has increased by 0.05%. Savers comparing short-term fixed accounts may well find this an attractive option, as at 1.40%, the deal sits within the top 10 compared to bonds with a similar term. Unsurprisingly, this fixed bond does not permit early access or further additions, so savers must be comfortable with their initial deposit and the length of the fixed term. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.40% gross / 1.40% AER payable on anniversary
  • Notice / term: 15 months
  • Minimum opening amount: £5,000
  • Maximum investment amount: £1,000,000
  • Access: Not permitted
  • Further additions: Not permitted
  • Opening account: Online
  • Managing account: Online, by phone and by post
  • Other information: Minimum applicant age 18. Joint account option available.

West Brom Building Society – 1 Year Fixed Rate ISA

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“West Brom Building Society has launched a new branch-based one-year fixed ISA, which pays 0.90% yearly. This deal enters the top rate tables and could entice savers looking to utilise their ISA allowance. Not only does the deal offer an attractive rate, but savers who may wish to access their pot in an emergency can do so, subject to 60 days’ notice or a 60-day loss of interest penalty. Those opening an account can also make further additions so long as the issue remains open, ideal for those who may experience a delay between making a simple cash deposit or an ISA transfer. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 0.90% gross / 0.90% AER payable yearly
  • Notice / term: 31.12.22
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Permitted, subject to 60-day notice or loss of interest penalty
  • Further additions: Permitted while issue remains open
  • Transfers in: Permitted. Accepts cash or stocks and shares ISAs, Help to Buy ISAs, LISAs (cash or stocks and shares) and Innovative Finance ISAs
  • Transfers out: Permitted subject to 60-day notice or loss of interest penalty
  • Opening account: Branch
  • Managing account: Branch
  • Other information: Minimum applicant age 16. First interest payment on 31 December 2021.

 

Mortgages

Digital Mortgages by Atom Bank – Two-year fixed rate mortgage, 95% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Digital Mortgages by Atom Bank has reduced selected rates in its range this week, including a two-year fixed rate 95% loan-to-value deal by 0.15%. Now priced at 2.79% and available via selected intermediaries, those with a 5% deposit may be attracted to the package as well as the initial rate as it includes a free valuation incentive and £500 cashback. Borrowers looking to save on the upfront cost of their deal may find this an appealing package as it also does not charge a product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 2.79% fixed rate to 29.2.24
  • Product fee: None
  • Maximum loan-to-value: 95%
  • Available to: House purchase customers (remortgage option also available)
  • Incentives: Free valuation and £500 cashback
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland. Available via selected intermediaries.

 

Buy-to-Let Mortgages

Virgin Money – Three-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“This week Virgin Money has increased selected rates within its fixed buy-to-let range, with its three-year fixed rate deal at 75% loan-to-value experiencing a slight rise of 0.03%. Now priced at 1.38% to 1 April 2025, this deal may appeal to landlords who are prepared to pay the £1,995 fee, which is offset slightly by the incentive package. The cashback on offer for those purchasing is £500, while for those remortgaging there is the option of either £300 cashback or free legal fees, plus a free valuation. On balance the deal earns a position in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.38% fixed rate to 1.4.25
  • Product fee: £1,995
  • Maximum loan-to-value: 75%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: For those remortgaging, either free legal fees or £300 cashback and a free valuation, and for those purchasing £500 cashback
  • Flexible features: Allows overpayments. Payment holidays considered by arrangement
  • Lending area: Great Britain and Northern Ireland.

Leek United Building Society – Two-year discounted-variable rate mortgage, 75% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Leek United Building Society has launched a two-year discounted variable rate buy-to-let mortgage at 75% loan-to-value to its range this week. Priced at 1.75%, the deal may not be the lowest rate in its sector, but there is no product fee to pay and it boasts an incentive package of £400 cashback and a free valuation. This package may then appeal to borrowers looking to save on the upfront cost of their deal. Overall, the combination of a low rate, lack of product fee and inclusion of an incentive package earns the deal an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.75% discounted variable rate for two years
  • Product fee: None
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: Free valuation and £400 cashback
  • Flexible features: Allows overpayments
  • Lending area: England and Wales

Savings

United Trust Bank – UTB 15 Month Bond

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“United Trust Bank has increased a selection of its fixed bonds this week, including its UTB 15 Month Bond which has increased by 0.05%. Savers comparing short-term fixed accounts may well find this an attractive option, as at 1.40%, the deal sits within the top 10 compared to bonds with a similar term. Unsurprisingly, this fixed bond does not permit early access or further additions, so savers must be comfortable with their initial deposit and the length of the fixed term. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.40% gross / 1.40% AER payable on anniversary
  • Notice / term: 15 months
  • Minimum opening amount: £5,000
  • Maximum investment amount: £1,000,000
  • Access: Not permitted
  • Further additions: Not permitted
  • Opening account: Online
  • Managing account: Online, by phone and by post
  • Other information: Minimum applicant age 18. Joint account option available.

West Brom Building Society – 1 Year Fixed Rate ISA

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“West Brom Building Society has launched a new branch-based one-year fixed ISA, which pays 0.90% yearly. This deal enters the top rate tables and could entice savers looking to utilise their ISA allowance. Not only does the deal offer an attractive rate, but savers who may wish to access their pot in an emergency can do so, subject to 60 days’ notice or a 60-day loss of interest penalty. Those opening an account can also make further additions so long as the issue remains open, ideal for those who may experience a delay between making a simple cash deposit or an ISA transfer. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 0.90% gross / 0.90% AER payable yearly
  • Notice / term: 31.12.22
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Permitted, subject to 60-day notice or loss of interest penalty
  • Further additions: Permitted while issue remains open
  • Transfers in: Permitted. Accepts cash or stocks and shares ISAs, Help to Buy ISAs, LISAs (cash or stocks and shares) and Innovative Finance ISAs
  • Transfers out: Permitted subject to 60-day notice or loss of interest penalty
  • Opening account: Branch
  • Managing account: Branch
  • Other information: Minimum applicant age 16. First interest payment on 31 December 2021.

 

Mortgages

Digital Mortgages by Atom Bank – Two-year fixed rate mortgage, 95% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Digital Mortgages by Atom Bank has reduced selected rates in its range this week, including a two-year fixed rate 95% loan-to-value deal by 0.15%. Now priced at 2.79% and available via selected intermediaries, those with a 5% deposit may be attracted to the package as well as the initial rate as it includes a free valuation incentive and £500 cashback. Borrowers looking to save on the upfront cost of their deal may find this an appealing package as it also does not charge a product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 2.79% fixed rate to 29.2.24
  • Product fee: None
  • Maximum loan-to-value: 95%
  • Available to: House purchase customers (remortgage option also available)
  • Incentives: Free valuation and £500 cashback
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland. Available via selected intermediaries.

 

Buy-to-Let Mortgages

Virgin Money – Three-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“This week Virgin Money has increased selected rates within its fixed buy-to-let range, with its three-year fixed rate deal at 75% loan-to-value experiencing a slight rise of 0.03%. Now priced at 1.38% to 1 April 2025, this deal may appeal to landlords who are prepared to pay the £1,995 fee, which is offset slightly by the incentive package. The cashback on offer for those purchasing is £500, while for those remortgaging there is the option of either £300 cashback or free legal fees, plus a free valuation. On balance the deal earns a position in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.38% fixed rate to 1.4.25
  • Product fee: £1,995
  • Maximum loan-to-value: 75%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: For those remortgaging, either free legal fees or £300 cashback and a free valuation, and for those purchasing £500 cashback
  • Flexible features: Allows overpayments. Payment holidays considered by arrangement
  • Lending area: Great Britain and Northern Ireland.

Leek United Building Society – Two-year discounted-variable rate mortgage, 75% loan-to-value

Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Leek United Building Society has launched a two-year discounted variable rate buy-to-let mortgage at 75% loan-to-value to its range this week. Priced at 1.75%, the deal may not be the lowest rate in its sector, but there is no product fee to pay and it boasts an incentive package of £400 cashback and a free valuation. This package may then appeal to borrowers looking to save on the upfront cost of their deal. Overall, the combination of a low rate, lack of product fee and inclusion of an incentive package earns the deal an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.75% discounted variable rate for two years
  • Product fee: None
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: Free valuation and £400 cashback
  • Flexible features: Allows overpayments
  • Lending area: England and Wales

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts.co.uk is a financial product price comparison site, launched in 2000, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfacts.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

We hope you find this press release insightful. We would appreciate a link back to Moneyfacts.co.uk if you decide to source this information.

For more information about us please see our key facts.

 

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts.co.uk is a financial product price comparison site, launched in 2000, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfacts.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

We hope you find this press release insightful. We would appreciate a link back to Moneyfacts.co.uk if you decide to source this information.

For more information about us please see our key facts.

 

Contact Us If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.
Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert