Moneyfacts Pick of the Week - 05/08/2021

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Eleanor Williams, Press Officer
Eleanor Williams, Press Officer / Finance Expert T: 01603 476205 E: Email Eleanor
05/08/2021

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, Eleanor Williams, 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, Eleanor Williams, has analysed the following deals, along with their perks, of note:

Savings

DF Capital – 18 Month Fixed Rate Deposit (Issue 6)

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

DF Capital has launched a new 18 Month Fixed Rate Deposit this week which pays 1.20% on maturity. This account takes the lead position when compared against other bonds with similar terms which are currently on offer. As is common in the fixed bond sector, early access is not permitted, however, further additions can be made within 14-days of account opening, which could be a plus for some investors. Available for minimum investments of £1,000, this could be a tempting proposition for those happy to lock their savings away for the 18-month term and savers may be pleased to note that the account secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.20% gross / 1.20% AER payable on maturity
  • Notice / term: 18-months
  • Minimum opening amount: £1,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Permitted within 14-days of account opening
  • Opening account: Online
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18. Internet operating is through secure email, not via an online banking portal.

Tandem Bank – Tandem 1 Year Fixed Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

One of the accounts to receive a rate increase from Tandem Bank this week is the 1 Year Fixed Saver. Now paying 1.11% on anniversary, the account has improved its position in the top ten when compared to other fixed bonds currently available with a similar term. Savers who are happy to secure their funds away for the term could be tempted by the return but must ensure they are happy to commit at the outset as early access is not permitted on this account, however, further additions are possible within 14-days of opening the account, which could be a positive for some. Overall, the account secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.11% gross / 1.11% AER payable on anniversary
  • Notice / term: One year
  • Minimum opening amount: £1
  • Maximum investment amount: £2,500,000
  • Access: Not permitted
  • Further additions: Permitted within 14-days of account opening
  • Opening account: Via its mobile app
  • Managing account: Via its mobile app
  • Other information: Minimum applicant age 18.

Shawbrook Bank – 2 Year Fixed Rate Cash ISA Bond Issue 51

 Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Savers still to use their ISA allowance may wish to note that among the products to be updated this week is Shawbrook Bank’s 2 Year ISA. Receiving a rate increase of 0.03%, this ISA now pays 0.91% on anniversary, seeing this account improve its position in our top rate tables. Those looking to supplement their income may be interested to note that this account also offers a monthly interest option, which could be a benefit for some. Additionally, the appeal of this fixed rate ISA is boosted further by the fact that there is some flexibility to access funds early as this is permitted subject to an interest penalty. On balance, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 0.91% gross / 0.91% AER payable on anniversary, monthly interest option of 0.91% gross / 0.91% AER also available
  • Notice / term: Two years
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Permitted, subject to 180-day loss of interest penalty
  • Further additions: Permitted while issue remains open
  • Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
  • Transfers out: Permitted, subject to 180-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18.

 

Mortgages

Skipton Building Society – Five-year fixed rate mortgage, 95% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Skipton Building Society has made various amendments to a selection of products this week, including making a rate cut of 0.16% to the five-year fixed rate at 95% loan-to-value. This deal is available to both first- and second-time buyers with a 5% deposit and following the reduction is priced at 3.58% until 30 November 2026, making it an attractive option for those looking to purchase with a smaller deposit and who would like the stability of a fixed rate. Although not the lowest rate on offer in this sector of the market, there is no fee to pay for this deal, and borrowers can also benefit from an incentive package including a free valuation and £500 cashback, which may be particularly appealing to those who have had to stretch their savings pot to cover a deposit and who may have little cash to spare for the outgoings associated with a new mortgage. Assessed overall, this product receives a place in our top tables for first-time buyers and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 3.58% fixed rate to 30.11.26
  • Product fee: None
  • Maximum loan-to-value: 95%
  • Available to: House purchase customers
  • Incentives: Free valuation and £500 cashback
  • Flexible features: Allows overpayments. Payment holidays considered after six months and subject to approval and sufficient overpayments having been made
  • Lending area: Great Britain.

Marsden Building Society – Two-year fixed rate mortgage, 80% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“The latest update from Marsden Building Society has included a rate cut of 0.14% on its two-year fixed rate product at 80% loan-to-value. This could be a tempting option for both those purchasing or remortgaging who have the required 20% deposit or equity and who are looking for a shorter-term fixed rate. Following the reduction, this deal is now priced at 1.85% to 31 October 2023 and those hoping to keep any costs down will be pleased to see that there is no fee payable for this deal and there is also an incentive available of a free valuation, while remortgage customers can also benefit from free legal fees. Assessed as a whole, this deal earns an Outstanding Moneyfacts product rating and a place in our top tables.”

Key product details:

  • Rate: 1.85% fixed rate to 31.10.23
  • Product fee: None
  • Maximum loan-to-value: 80%
  • Available to: All borrower types
  • Incentives: Free valuation and for those remortgaging, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

Platform – Two-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“This week, Platform has made reductions to various fixed rate products by as much as 0.43%.  Borrowers who have a 25% deposit or equity available may be pleased to see that among the products to receive a rate cut is the two-year fixed rate deal at 75% loan-to-value. Now priced at 0.99% and available to both those purchasing or remortgaging, this is the lowest rate currently on offer in this sector of the market. There is a fee of £1,499 which can either be paid upfront or added to the advance. To offset this, there is also a generous incentive package to take into account, of a free valuation, £250 cashback and also for those remortgaging free legal fees. On assessment, this product receives an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 0.99% fixed rate to 31.10.23
  • Product fee: £1,499
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: Free valuation, £250 cashback and for those remortgaging, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: Great Britain. Available via selected intermediaries.

 

Buy-to-Let Mortgages

Principality Building Society – Five-year fixed rate mortgage, 60% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Landlords considering either a remortgage or making a purchase at 60% loan-to-value may wish to note that the latest update from Principality Building Society included a rate cut of 0.10% to its five-year fixed deal. Now priced at 1.72% to 31 October 2026 this is among the lowest rates currently offered within this sector of the market. Investors who are considering the security of a mid-term fixed rate may find this an enticing option as the low rate is balanced against a fee of £1,395 for which there is the option to either pay upfront or add it to the advance, and there is also an incentive available of a free valuation, which could be of interest to those looking to keep mortgage set up costs to a minimum. When considered overall, the deal earns a position in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.72% fixed rate to 31.10.26
  • Product fee: £1,395
  • Maximum loan-to-value: 60%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

Savings

DF Capital – 18 Month Fixed Rate Deposit (Issue 6)

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

DF Capital has launched a new 18 Month Fixed Rate Deposit this week which pays 1.20% on maturity. This account takes the lead position when compared against other bonds with similar terms which are currently on offer. As is common in the fixed bond sector, early access is not permitted, however, further additions can be made within 14-days of account opening, which could be a plus for some investors. Available for minimum investments of £1,000, this could be a tempting proposition for those happy to lock their savings away for the 18-month term and savers may be pleased to note that the account secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.20% gross / 1.20% AER payable on maturity
  • Notice / term: 18-months
  • Minimum opening amount: £1,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Permitted within 14-days of account opening
  • Opening account: Online
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18. Internet operating is through secure email, not via an online banking portal.

Tandem Bank – Tandem 1 Year Fixed Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

One of the accounts to receive a rate increase from Tandem Bank this week is the 1 Year Fixed Saver. Now paying 1.11% on anniversary, the account has improved its position in the top ten when compared to other fixed bonds currently available with a similar term. Savers who are happy to secure their funds away for the term could be tempted by the return but must ensure they are happy to commit at the outset as early access is not permitted on this account, however, further additions are possible within 14-days of opening the account, which could be a positive for some. Overall, the account secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.11% gross / 1.11% AER payable on anniversary
  • Notice / term: One year
  • Minimum opening amount: £1
  • Maximum investment amount: £2,500,000
  • Access: Not permitted
  • Further additions: Permitted within 14-days of account opening
  • Opening account: Via its mobile app
  • Managing account: Via its mobile app
  • Other information: Minimum applicant age 18.

Shawbrook Bank – 2 Year Fixed Rate Cash ISA Bond Issue 51

 Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Savers still to use their ISA allowance may wish to note that among the products to be updated this week is Shawbrook Bank’s 2 Year ISA. Receiving a rate increase of 0.03%, this ISA now pays 0.91% on anniversary, seeing this account improve its position in our top rate tables. Those looking to supplement their income may be interested to note that this account also offers a monthly interest option, which could be a benefit for some. Additionally, the appeal of this fixed rate ISA is boosted further by the fact that there is some flexibility to access funds early as this is permitted subject to an interest penalty. On balance, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 0.91% gross / 0.91% AER payable on anniversary, monthly interest option of 0.91% gross / 0.91% AER also available
  • Notice / term: Two years
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Permitted, subject to 180-day loss of interest penalty
  • Further additions: Permitted while issue remains open
  • Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
  • Transfers out: Permitted, subject to 180-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18.

 

Mortgages

Skipton Building Society – Five-year fixed rate mortgage, 95% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Skipton Building Society has made various amendments to a selection of products this week, including making a rate cut of 0.16% to the five-year fixed rate at 95% loan-to-value. This deal is available to both first- and second-time buyers with a 5% deposit and following the reduction is priced at 3.58% until 30 November 2026, making it an attractive option for those looking to purchase with a smaller deposit and who would like the stability of a fixed rate. Although not the lowest rate on offer in this sector of the market, there is no fee to pay for this deal, and borrowers can also benefit from an incentive package including a free valuation and £500 cashback, which may be particularly appealing to those who have had to stretch their savings pot to cover a deposit and who may have little cash to spare for the outgoings associated with a new mortgage. Assessed overall, this product receives a place in our top tables for first-time buyers and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 3.58% fixed rate to 30.11.26
  • Product fee: None
  • Maximum loan-to-value: 95%
  • Available to: House purchase customers
  • Incentives: Free valuation and £500 cashback
  • Flexible features: Allows overpayments. Payment holidays considered after six months and subject to approval and sufficient overpayments having been made
  • Lending area: Great Britain.

Marsden Building Society – Two-year fixed rate mortgage, 80% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“The latest update from Marsden Building Society has included a rate cut of 0.14% on its two-year fixed rate product at 80% loan-to-value. This could be a tempting option for both those purchasing or remortgaging who have the required 20% deposit or equity and who are looking for a shorter-term fixed rate. Following the reduction, this deal is now priced at 1.85% to 31 October 2023 and those hoping to keep any costs down will be pleased to see that there is no fee payable for this deal and there is also an incentive available of a free valuation, while remortgage customers can also benefit from free legal fees. Assessed as a whole, this deal earns an Outstanding Moneyfacts product rating and a place in our top tables.”

Key product details:

  • Rate: 1.85% fixed rate to 31.10.23
  • Product fee: None
  • Maximum loan-to-value: 80%
  • Available to: All borrower types
  • Incentives: Free valuation and for those remortgaging, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

Platform – Two-year fixed rate mortgage, 75% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“This week, Platform has made reductions to various fixed rate products by as much as 0.43%.  Borrowers who have a 25% deposit or equity available may be pleased to see that among the products to receive a rate cut is the two-year fixed rate deal at 75% loan-to-value. Now priced at 0.99% and available to both those purchasing or remortgaging, this is the lowest rate currently on offer in this sector of the market. There is a fee of £1,499 which can either be paid upfront or added to the advance. To offset this, there is also a generous incentive package to take into account, of a free valuation, £250 cashback and also for those remortgaging free legal fees. On assessment, this product receives an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 0.99% fixed rate to 31.10.23
  • Product fee: £1,499
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: Free valuation, £250 cashback and for those remortgaging, free legal fees
  • Flexible features: Allows overpayments
  • Lending area: Great Britain. Available via selected intermediaries.

 

Buy-to-Let Mortgages

Principality Building Society – Five-year fixed rate mortgage, 60% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Landlords considering either a remortgage or making a purchase at 60% loan-to-value may wish to note that the latest update from Principality Building Society included a rate cut of 0.10% to its five-year fixed deal. Now priced at 1.72% to 31 October 2026 this is among the lowest rates currently offered within this sector of the market. Investors who are considering the security of a mid-term fixed rate may find this an enticing option as the low rate is balanced against a fee of £1,395 for which there is the option to either pay upfront or add it to the advance, and there is also an incentive available of a free valuation, which could be of interest to those looking to keep mortgage set up costs to a minimum. When considered overall, the deal earns a position in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.72% fixed rate to 31.10.26
  • Product fee: £1,395
  • Maximum loan-to-value: 60%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: Free valuation
  • 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, there is no commercial influence on the way Moneyfacts.co.uk ranks products, 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, there is no commercial influence on the way Moneyfacts.co.uk ranks products, 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.

 

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Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert