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Moneyfacts Pick of the Week - 11/01/2024

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Rachel Springall, Press Officer
Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel
11/01/2024

Moneyfacts Pick of the Week

The Moneyfactscompare.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 Moneyfactscompare.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 Moneyfactscompare.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 Moneyfactscompare.co.uk.

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

Savings

Kent Reliance – Easy Access Account – Issue 67

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

“Kent Reliance has increased the rate on its Easy Access Account this week, which improves its position in the market. Paying a yearly rate of 5.11%, savers who have the required £1,000 upfront to deposit and are searching for a competitive return may find this an enticing account. The monthly payment option could be ideal for those looking to supplement their income. On assessment, the account earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.11% gross / 5.11% AER payable yearly, monthly interest option of 4.99% gross / 5.11% AER
  • Notice / term: None
  • Minimum opening amount: £1,000
  • Maximum investment amount: £1 million
  • Access: Via nominated account. Withdrawal method dependent on how account is opened
  • Further additions: Permitted
  • Opening account: Online and in branch
  • Managing account: Online and in branch
  • Other information: Minimum applicant age 18 to open and operate online. Joint account option available.

 

Secure Trust Bank – 3 Year Fixed Rate Cash ISA (15.Feb.27)

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

“Secure Trust Bank has launched a new 3 Year Fixed Rate Cash ISA this week, which pays 4.26%. The deal still sits in a competitive position within its sector and may well attract savers who are prepared to lock away their cash for a guaranteed return over the next three years. Savers need £1,000 to invest but they can also make transfers in from cash ISAs. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.26% gross / 4.26% AER payable yearly
  • Notice / term: Three years
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Early access on closure with 270-day loss of interest penalty
  • Further additions: Permitted, for 30 days from account opening via nominated account. Minimum addition £1,000.
  • Transfers in: Permitted, allows Cash ISAs
  • Transfers out: Permitted, subject to 270-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18.

 

SmartSave – 5 Year Fixed Rate Saver

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

“This week, SmartSave has launched a new 5 Year Fixed Rate Saver, which takes a prominent position in the market. Paying a rate of 4.36%, the deal sits above many of its peers and may entice savers looking for a guaranteed return over the next five years if they have a minimum of £10,000 to invest. Savers will find earlier access is not permitted, but they can make further additions for 14 days from account opening. On assessment, the account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.36% gross / 4.36% AER payable on maturity
  • Notice / term: Five years
  • Minimum opening amount: £10,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Permitted for 14 days from account opening
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18.

 

Mortgages

Barclays Mortgage – Two-year fixed rate mortgage, 60% loan-to-value

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

“Barclays Mortgage has reduced selected fixed rates in its range this week, including its two-year fixed offer at 60% loan-to-value. The deal is now priced at 4.36% and may appeal to borrowers looking to save on the upfront cost of their deal and secure a competitive rate. A free valuation incentive is included, and the deal does not charge a product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.36% fixed rate to 31.3.26
  • Product fee: None
  • Maximum loan-to-value: 60%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.

 

Gen H – Three-year fixed rate mortgage, 75% loan-to-value

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

“Gen H has amended rates across selected fixed deals this week, including a rate increase to its three-year fixed mortgage at 75% loan-to-value. Now priced at 4.69% and fixed for three years, this deal continues to include a free valuation incentive and does not charge a product fee. Those borrowers who are looking to save on the upfront cost of their mortgage and lock into a competitive rate for peace of mind may find this an attractive choice. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.69% fixed rate for three years
  • Product fee: None
  • Maximum loan-to-value: 75%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

 

Buy-to-Let

Newcastle Building Society – Five-year fixed rate mortgage, 80% loan-to-value

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

“Landlords looking for a competitive rate to secure their monthly repayments over the next five years may find the latest deal from Newcastle Building Society an enticing choice this week. Priced at 4.99% and fixed to 31 August 2029, this deal charges a reasonable product fee of £999 but does not include an incentive package. The deal is available through selected intermediaries and earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.99% fixed rate to 31.8.29
  • Product fee: £999
  • Maximum loan-to-value: 80%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: None
  • Flexible features: Allows overpayments
  • Lending area: Great Britain

 

Santander – Two-year fixed rate mortgage, 60% loan-to-value

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

“Santander has made several rate reductions to its buy-to-let range this week. Its two-year fixed rate deal priced at 4.64% may appeal to landlords looking to secure a competitive rate. A free valuation incentive for all, and remortgage customers can choose between free legal fees or £250 cashback. The product fee of £1,749 can be added to the mortgage advance, which could be ideal for those looking to save on the upfront cost of their mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.64% fixed rate to 2.6.26
  • Product fee: £1,749
  • Maximum loan-to-value: 75%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: Free valuation (limits vary depending on lending area) for all, remortgage customers can choose between free legal fees or £250 cashback
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.

 

Cards

NatWest – Purchase and Balance Transfer Credit Card Mastercard

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

“The latest updates from NatWest see the purchase and balance transfer terms on the Purchase and Balance Transfer Credit Card Mastercard increase to 19 months. This card now provides one of the best dual 0% offers on purchases and balance transfers and charges an upfront balance transfer fee of 2.99%. Those customers looking to consolidate debts may then find this an appealing offer but may wish to note that lower fees are available elsewhere. On assessment, the card earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Introductory rate for purchases: 0% for 19 months
  • Introductory rate for balance transfers: 0% for 19 months
  • Standard rate for purchases: 24.9% APR
  • Balance transfer fee: 2.99% as an introductory charge during the first three months from account opening
  • Card fee: None
  • Opening method: Online
  • Card management: Online, by phone, by post, in branch and via its mobile app
  • Other information: Minimum age 18. Minimum income £10,000.

Savings

Kent Reliance – Easy Access Account – Issue 67

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

“Kent Reliance has increased the rate on its Easy Access Account this week, which improves its position in the market. Paying a yearly rate of 5.11%, savers who have the required £1,000 upfront to deposit and are searching for a competitive return may find this an enticing account. The monthly payment option could be ideal for those looking to supplement their income. On assessment, the account earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.11% gross / 5.11% AER payable yearly, monthly interest option of 4.99% gross / 5.11% AER
  • Notice / term: None
  • Minimum opening amount: £1,000
  • Maximum investment amount: £1 million
  • Access: Via nominated account. Withdrawal method dependent on how account is opened
  • Further additions: Permitted
  • Opening account: Online and in branch
  • Managing account: Online and in branch
  • Other information: Minimum applicant age 18 to open and operate online. Joint account option available.

 

Secure Trust Bank – 3 Year Fixed Rate Cash ISA (15.Feb.27)

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

“Secure Trust Bank has launched a new 3 Year Fixed Rate Cash ISA this week, which pays 4.26%. The deal still sits in a competitive position within its sector and may well attract savers who are prepared to lock away their cash for a guaranteed return over the next three years. Savers need £1,000 to invest but they can also make transfers in from cash ISAs. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.26% gross / 4.26% AER payable yearly
  • Notice / term: Three years
  • Minimum opening amount: £1,000
  • Maximum investment amount: ISA allowance
  • Access: Early access on closure with 270-day loss of interest penalty
  • Further additions: Permitted, for 30 days from account opening via nominated account. Minimum addition £1,000.
  • Transfers in: Permitted, allows Cash ISAs
  • Transfers out: Permitted, subject to 270-day loss of interest penalty
  • Opening account: Online
  • Managing account: Online and by phone
  • Other information: Minimum applicant age 18.

 

SmartSave – 5 Year Fixed Rate Saver

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

“This week, SmartSave has launched a new 5 Year Fixed Rate Saver, which takes a prominent position in the market. Paying a rate of 4.36%, the deal sits above many of its peers and may entice savers looking for a guaranteed return over the next five years if they have a minimum of £10,000 to invest. Savers will find earlier access is not permitted, but they can make further additions for 14 days from account opening. On assessment, the account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.36% gross / 4.36% AER payable on maturity
  • Notice / term: Five years
  • Minimum opening amount: £10,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Permitted for 14 days from account opening
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18.

 

Mortgages

Barclays Mortgage – Two-year fixed rate mortgage, 60% loan-to-value

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

“Barclays Mortgage has reduced selected fixed rates in its range this week, including its two-year fixed offer at 60% loan-to-value. The deal is now priced at 4.36% and may appeal to borrowers looking to save on the upfront cost of their deal and secure a competitive rate. A free valuation incentive is included, and the deal does not charge a product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.36% fixed rate to 31.3.26
  • Product fee: None
  • Maximum loan-to-value: 60%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.

 

Gen H – Three-year fixed rate mortgage, 75% loan-to-value

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

“Gen H has amended rates across selected fixed deals this week, including a rate increase to its three-year fixed mortgage at 75% loan-to-value. Now priced at 4.69% and fixed for three years, this deal continues to include a free valuation incentive and does not charge a product fee. Those borrowers who are looking to save on the upfront cost of their mortgage and lock into a competitive rate for peace of mind may find this an attractive choice. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.69% fixed rate for three years
  • Product fee: None
  • Maximum loan-to-value: 75%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

 

Buy-to-Let

Newcastle Building Society – Five-year fixed rate mortgage, 80% loan-to-value

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

“Landlords looking for a competitive rate to secure their monthly repayments over the next five years may find the latest deal from Newcastle Building Society an enticing choice this week. Priced at 4.99% and fixed to 31 August 2029, this deal charges a reasonable product fee of £999 but does not include an incentive package. The deal is available through selected intermediaries and earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 4.99% fixed rate to 31.8.29
  • Product fee: £999
  • Maximum loan-to-value: 80%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: None
  • Flexible features: Allows overpayments
  • Lending area: Great Britain

 

Santander – Two-year fixed rate mortgage, 60% loan-to-value

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

“Santander has made several rate reductions to its buy-to-let range this week. Its two-year fixed rate deal priced at 4.64% may appeal to landlords looking to secure a competitive rate. A free valuation incentive for all, and remortgage customers can choose between free legal fees or £250 cashback. The product fee of £1,749 can be added to the mortgage advance, which could be ideal for those looking to save on the upfront cost of their mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.64% fixed rate to 2.6.26
  • Product fee: £1,749
  • Maximum loan-to-value: 75%
  • Available to: Second-time buyers and remortgage customers
  • Incentives: Free valuation (limits vary depending on lending area) for all, remortgage customers can choose between free legal fees or £250 cashback
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.

 

Cards

NatWest – Purchase and Balance Transfer Credit Card Mastercard

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

“The latest updates from NatWest see the purchase and balance transfer terms on the Purchase and Balance Transfer Credit Card Mastercard increase to 19 months. This card now provides one of the best dual 0% offers on purchases and balance transfers and charges an upfront balance transfer fee of 2.99%. Those customers looking to consolidate debts may then find this an appealing offer but may wish to note that lower fees are available elsewhere. On assessment, the card earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Introductory rate for purchases: 0% for 19 months
  • Introductory rate for balance transfers: 0% for 19 months
  • Standard rate for purchases: 24.9% APR
  • Balance transfer fee: 2.99% as an introductory charge during the first three months from account opening
  • Card fee: None
  • Opening method: Online
  • Card management: Online, by phone, by post, in branch and via its mobile app
  • Other information: Minimum age 18. Minimum income £10,000.

Notes to editors

Pioneering financial comparison technology for over 35 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.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.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 Moneyfactscompare.co.uk if you decide to source this information.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

Pioneering financial comparison technology for over 35 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.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.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 Moneyfactscompare.co.uk if you decide to source this information.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

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.
James Hyde Press & PR Manager
Rachel Springall Press Officer / Finance Expert
Caitlyn Eastell Apprentice Press & PR Assistant