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 - 16/12/2021

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
16/12/2021

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

Castle Trust Bank – 1 Year Fixed Rate e-Saver

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

“This week Castle Trust Bank has increased the rate on its 1 Year Fixed Rate e-Saver by 0.20%. Now paying 1.35% on maturity, this account offers a competitive return against alternative deals with a similar term. As is commonplace with a fixed account, savers will not be permitted to access their deposit early, so careful planning is a must. However, savers will be able to make further additions for 14 days from opening the account. Overall, this secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.35% gross / 1.35% AER payable on maturity
  • Notice / term: One year
  • Minimum opening amount: £1,000 (if minimum investment not made within 14 days of account opening, no interest is paid and the balance is refunded)
  • Maximum investment amount: £500,000
  • Access: Not permitted
  • Further additions: Permitted for 14 days from account opening
  • Opening account: Online and via its mobile app
  • Managing account: Online and via its mobile app
  • Other information: Minimum applicant age 18. Joint account option available. New customers can only open account via an online Self-Service Portal, after which they will gain access to the mobile app and can open subsequent accounts using either the Self-Service Portal or the mobile app.

Ahli United Bank (UK) plc – Raisin UK – 2 Year Fixed Term Deposit

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

“Ahli United Bank (UK) plc has launched a new Fixed Term Deposit this week through Raisin UK. Paying 1.55% on maturity after two years, this deal may appeal to savers searching for a guaranteed return over the short-term. Savers will need to be comfortable with their initial deposit and duration of the fixed term, as early access is not permitted until maturity. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.55% gross / 1.55% AER, payable on maturity
  • Notice / term: Two years
  • Minimum opening amount: £1,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Not permitted
  • Opening account: Online
  • Managing account: Online, by phone and by post
  • Other information: Minimum applicant age 18. Account available via Raisin UK. With Raisin UK a £50 welcome bonus can be claimed on savings accounts with a term of at least six months opened with a minimum of £10,000.

 

Mortgages

Yorkshire Building Society – Five-year fixed rate mortgage, 85% loan-to-value

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

“Yorkshire Building Society has made several reductions in its range this week, including a cut to its five-year fixed deal at 85% loan-to-value by 0.06%. Now priced at 1.96% the deal carries an attractive incentive package of free valuation and £250 cashback. Those looking to save on the upfront cost of their deal may then find the package appealing and they can also add the product fee of £495 to their mortgage advance. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.96% fixed rate to 28.2.27
  • Product fee: £495
  • Maximum loan-to-value: 85%
  • Available to: House purchase customers
  • Incentives: Free valuation and £250 cashback
  • Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed the level of overpayments previously made
  • Lending area: Great Britain and Northern Ireland.

 

Buy-to-Let Mortgages

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

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

“This week NatWest has increased selected buy-to-let fixed rates, with its two-year fixed rate deal at 60% loan-to-value experiencing a rise of 0.05%. Now priced at 1.44% to 30 April 2024, this deal may be appealing to landlords due to a combination of a competitive rate, a free valuation incentive and reasonable fee of £995, which can be added to the mortgage advance – ideal for those looking to save on the upfront cost of their deal. On balance the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.44% fixed rate until 30.4.24
  • Product fee: £995
  • Maximum loan-to-value: 60%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.


Cards

Virgin Money – 35 Month Balance Transfer Credit Card Mastercard

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

“Virgin Money has made a notable improvement to the 0% introductory balance transfer deal on its 30 Month Balance Transfer Mastercard by five months. The length of the interest-free balance transfer period is now a market-leading 35 months and the introductory balance transfer fee has been reduced to 2.94%. In addition to the transfer offer, the card carries a 0% introductory purchase offer for three months. Those looking to move or consolidate credit card debt for as long as they can interest-free may find the deal attractive. Customers can also enjoy exclusive offers and rewards on the Virgin Red app. On assessment the card earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Introductory rate for purchases: 0% for three months
  • Introductory rate for balance transfers: 0% for 35 months
  • Standard rate for purchases: 21.9% APR
  • Balance transfer fee: 2.94% as an introductory charge for the first two months, 5.00% thereafter
  • Card fee: None
  • Opening method: Online or in branch
  • Card management: By phone, by post and via its mobile app
  • Other information: Minimum age 18.

Savings

Castle Trust Bank – 1 Year Fixed Rate e-Saver

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

“This week Castle Trust Bank has increased the rate on its 1 Year Fixed Rate e-Saver by 0.20%. Now paying 1.35% on maturity, this account offers a competitive return against alternative deals with a similar term. As is commonplace with a fixed account, savers will not be permitted to access their deposit early, so careful planning is a must. However, savers will be able to make further additions for 14 days from opening the account. Overall, this secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.35% gross / 1.35% AER payable on maturity
  • Notice / term: One year
  • Minimum opening amount: £1,000 (if minimum investment not made within 14 days of account opening, no interest is paid and the balance is refunded)
  • Maximum investment amount: £500,000
  • Access: Not permitted
  • Further additions: Permitted for 14 days from account opening
  • Opening account: Online and via its mobile app
  • Managing account: Online and via its mobile app
  • Other information: Minimum applicant age 18. Joint account option available. New customers can only open account via an online Self-Service Portal, after which they will gain access to the mobile app and can open subsequent accounts using either the Self-Service Portal or the mobile app.

Ahli United Bank (UK) plc – Raisin UK – 2 Year Fixed Term Deposit

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

“Ahli United Bank (UK) plc has launched a new Fixed Term Deposit this week through Raisin UK. Paying 1.55% on maturity after two years, this deal may appeal to savers searching for a guaranteed return over the short-term. Savers will need to be comfortable with their initial deposit and duration of the fixed term, as early access is not permitted until maturity. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.55% gross / 1.55% AER, payable on maturity
  • Notice / term: Two years
  • Minimum opening amount: £1,000
  • Maximum investment amount: £85,000
  • Access: Not permitted
  • Further additions: Not permitted
  • Opening account: Online
  • Managing account: Online, by phone and by post
  • Other information: Minimum applicant age 18. Account available via Raisin UK. With Raisin UK a £50 welcome bonus can be claimed on savings accounts with a term of at least six months opened with a minimum of £10,000.

 

Mortgages

Yorkshire Building Society – Five-year fixed rate mortgage, 85% loan-to-value

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

“Yorkshire Building Society has made several reductions in its range this week, including a cut to its five-year fixed deal at 85% loan-to-value by 0.06%. Now priced at 1.96% the deal carries an attractive incentive package of free valuation and £250 cashback. Those looking to save on the upfront cost of their deal may then find the package appealing and they can also add the product fee of £495 to their mortgage advance. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.96% fixed rate to 28.2.27
  • Product fee: £495
  • Maximum loan-to-value: 85%
  • Available to: House purchase customers
  • Incentives: Free valuation and £250 cashback
  • Flexible features: Allows overpayments. Underpayments and payment holidays considered, not to exceed the level of overpayments previously made
  • Lending area: Great Britain and Northern Ireland.

 

Buy-to-Let Mortgages

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

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

“This week NatWest has increased selected buy-to-let fixed rates, with its two-year fixed rate deal at 60% loan-to-value experiencing a rise of 0.05%. Now priced at 1.44% to 30 April 2024, this deal may be appealing to landlords due to a combination of a competitive rate, a free valuation incentive and reasonable fee of £995, which can be added to the mortgage advance – ideal for those looking to save on the upfront cost of their deal. On balance the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.44% fixed rate until 30.4.24
  • Product fee: £995
  • Maximum loan-to-value: 60%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.


Cards

Virgin Money – 35 Month Balance Transfer Credit Card Mastercard

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

“Virgin Money has made a notable improvement to the 0% introductory balance transfer deal on its 30 Month Balance Transfer Mastercard by five months. The length of the interest-free balance transfer period is now a market-leading 35 months and the introductory balance transfer fee has been reduced to 2.94%. In addition to the transfer offer, the card carries a 0% introductory purchase offer for three months. Those looking to move or consolidate credit card debt for as long as they can interest-free may find the deal attractive. Customers can also enjoy exclusive offers and rewards on the Virgin Red app. On assessment the card earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Introductory rate for purchases: 0% for three months
  • Introductory rate for balance transfers: 0% for 35 months
  • Standard rate for purchases: 21.9% APR
  • Balance transfer fee: 2.94% as an introductory charge for the first two months, 5.00% thereafter
  • Card fee: None
  • Opening method: Online or in branch
  • Card management: By phone, by post and via its mobile app
  • Other information: Minimum age 18.

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