Moneyfacts Pick of the Week - 07/09/2023

Rachel Springall, Press Officer

Rachel Springall, Press Officer / Finance Expert 01603 476210 Email Rachel

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

Santander – Easy Access Saver Limited Edition (Issue 3)

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

“Santander has launched an easy access account this week, which takes a prominent position in the easy access savings sector. The account pays an attractive rate of 5.20% gross and may entice savers looking for flexibility with their cash as the account allows unlimited withdrawals. Savers must note that no interest will be paid on balances of £250,000 or more. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.20% gross / 5.20% AER payable on anniversary, monthly interest option of 5.08% gross / 5.20% AER also available
Notice / term: None
Minimum opening amount: £1
Maximum investment amount: £2 million
Access: Permitted via a nominated account only
Further additions: Permitted
Opening account: Online, in branch, by phone and via mobile app
Managing account: Online, in branch, by phone and via mobile app
Other information: Minimum applicant age 16. Joint account option available.

Ahli United Bank (UK) plc – Raisin UK – 1 Year Fixed Term Deposit

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

“This week, Ahli United Bank (UK) plc has taken a prominent position within the short-term fixed market, with the launch of its 1 Year Fixed Term Deposit through Raisin UK. The deal pays 6.10% gross and may well appeal to savers who are comfortable with locking away their cash to secure a competitive return over the shorter-term. Overall, this account receives an Excellent Moneyfacts product rating.

Key product details:

Rate: 6.10% gross / 6.10% AER payable on maturity
Notice / term: One year
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 postal
Other information: Minimum applicant age 18. Account available via the Raisin UK platform.

OakNorth Bank – 12 Month Fixed Rate Cash ISA

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

“This week, OakNorth Bank has increased the rate on its 12 Month Fixed Rate Cash ISA, paying 5.63% gross monthly, and grabs a prominent position in the market. Investors who want to utilise their ISA allowance and are happy to lock their cash away may then find this an appealing choice. Consumers can make Cash ISA transfers into the account, and if they so wish, access their deposit subject to a loss of interest penalty. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.63% gross / 5.78% AER fixed rate, payable monthly
Notice / term: 12 months
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted, subject to 90 days’ loss of interest penalty
Further additions: Permitted for 30 days from account opening
Transfers in: Permitted for 30 days from account opening. Accepts Cash ISAs.
Transfers out: Permitted, subject to 90 days’ loss of interest penalty
Opening account: Online and via its mobile app
Managing account: Online and via its mobile app
Other information: Minimum applicant age 18. Account must be funded within 30 days of account approval or account will be closed.

Skipton Building Society – Bonus Cash ISA Issue 14

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

“Skipton Building Society has increased the rate on its Bonus Cash ISA this week, which improves its position in the market and may entice savers looking for flexibility. The deal now pays 4.50% and permits unlimited withdrawals, further additions and transfers in from another Cash or Stocks and Shares ISA. The account does include an introductory bonus rate of 0.65% which runs for a year, so a review of the account before this expires would be wise. The deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.50% gross / 4.50% AER, payable on its anniversary, includes a bonus of 0.65% for 12 months.
Notice / term: None
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted
Further additions: Permitted
Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
Transfers out: Permitted
Opening account: Online, by phone, by post and in branch
Managing account: Online, by phone, by post and in branch
Other information: Minimum applicant age 16.

Mortgages

Halifax – Five-year fixed rate mortgage, 90% loan-to-value

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

“Halifax has reduced a range of its fixed rates this week, including its five-year fixed deal at 90% loan-to-value which is available through intermediaries. Now priced at 5.50% until 31 December 2028, the deal charges a reasonable fee of £999, which can be added to the advance of the mortgage and comes with a cashback incentive of £250 for qualifying ‘Green Home’ properties. The attractive package overall may still attract borrowers looking to save on the upfront cost of their mortgage. The deal secures a place in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.50% fixed rate to 31.12.28
Product fee: £999
Maximum loan-to-value: 90%
Available to: House purchase customers
Incentives: ‘Green Home’ £250 cashback for qualifying properties only
Flexible features: Allows overpayments. Payment holidays considered, after one year, and subject to approval.
Lending area: Great Britain and Northern Ireland.

first direct – Three-year fixed rate mortgage, 75% loan-to-value

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

“This week, first direct has reduced selected fixed rates in its range, including its three-year fixed offer at 75% loan-to-value. Now priced at 5.79%, the deal may appeal to borrowers looking to save on the upfront cost of their mortgage. A free valuation for all borrowers is part of its incentive package, with free legal fees for those remortgaging, plus the deal charges a reasonable £490 product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.79% fixed rate for three years
Product fee: £490
Maximum loan-to-value: 75%
Available to: All borrowers
Incentives: Free valuation for all borrowers and free legal fees for those remortgaging
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

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

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

“HSBC has reduced rates across selected fixed deals this week, including its two-year fixed mortgage at 75% loan-to-value. Now priced at 6.04% and fixed to 31 October 2025, this deal carries 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: 6.04% fixed rate to 31.10.25
Product fee: None
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuation and £250 cashback
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland

NatWest – Two-year variable tracker rate mortgage, 90% loan-to-value

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

“NatWest has reduced the rate on its two-year variable tracker deal this week. Now priced at 6.33% for two years, the deal is available for borrowers at 90% loan-to-value. Borrowers will find a free valuation incentive is included and it does not charge a product fee, which may attract those looking to save on the upfront cost. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

6.33% variable tracker rate (BBR + 1.08%) to 31.12.25
Product fee: None
Maximum loan-to-value: 90%
Available to: House purchase customers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain, Northern Ireland.

Savings

Santander – Easy Access Saver Limited Edition (Issue 3)

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

“Santander has launched an easy access account this week, which takes a prominent position in the easy access savings sector. The account pays an attractive rate of 5.20% gross and may entice savers looking for flexibility with their cash as the account allows unlimited withdrawals. Savers must note that no interest will be paid on balances of £250,000 or more. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.20% gross / 5.20% AER payable on anniversary, monthly interest option of 5.08% gross / 5.20% AER also available
Notice / term: None
Minimum opening amount: £1
Maximum investment amount: £2 million
Access: Permitted via a nominated account only
Further additions: Permitted
Opening account: Online, in branch, by phone and via mobile app
Managing account: Online, in branch, by phone and via mobile app
Other information: Minimum applicant age 16. Joint account option available.

Ahli United Bank (UK) plc – Raisin UK – 1 Year Fixed Term Deposit

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

“This week, Ahli United Bank (UK) plc has taken a prominent position within the short-term fixed market, with the launch of its 1 Year Fixed Term Deposit through Raisin UK. The deal pays 6.10% gross and may well appeal to savers who are comfortable with locking away their cash to secure a competitive return over the shorter-term. Overall, this account receives an Excellent Moneyfacts product rating.

Key product details:

Rate: 6.10% gross / 6.10% AER payable on maturity
Notice / term: One year
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 postal
Other information: Minimum applicant age 18. Account available via the Raisin UK platform.

OakNorth Bank – 12 Month Fixed Rate Cash ISA

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

“This week, OakNorth Bank has increased the rate on its 12 Month Fixed Rate Cash ISA, paying 5.63% gross monthly, and grabs a prominent position in the market. Investors who want to utilise their ISA allowance and are happy to lock their cash away may then find this an appealing choice. Consumers can make Cash ISA transfers into the account, and if they so wish, access their deposit subject to a loss of interest penalty. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.63% gross / 5.78% AER fixed rate, payable monthly
Notice / term: 12 months
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted, subject to 90 days’ loss of interest penalty
Further additions: Permitted for 30 days from account opening
Transfers in: Permitted for 30 days from account opening. Accepts Cash ISAs.
Transfers out: Permitted, subject to 90 days’ loss of interest penalty
Opening account: Online and via its mobile app
Managing account: Online and via its mobile app
Other information: Minimum applicant age 18. Account must be funded within 30 days of account approval or account will be closed.

Skipton Building Society – Bonus Cash ISA Issue 14

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

“Skipton Building Society has increased the rate on its Bonus Cash ISA this week, which improves its position in the market and may entice savers looking for flexibility. The deal now pays 4.50% and permits unlimited withdrawals, further additions and transfers in from another Cash or Stocks and Shares ISA. The account does include an introductory bonus rate of 0.65% which runs for a year, so a review of the account before this expires would be wise. The deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.50% gross / 4.50% AER, payable on its anniversary, includes a bonus of 0.65% for 12 months.
Notice / term: None
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted
Further additions: Permitted
Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
Transfers out: Permitted
Opening account: Online, by phone, by post and in branch
Managing account: Online, by phone, by post and in branch
Other information: Minimum applicant age 16.

Mortgages

Halifax – Five-year fixed rate mortgage, 90% loan-to-value

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

“Halifax has reduced a range of its fixed rates this week, including its five-year fixed deal at 90% loan-to-value which is available through intermediaries. Now priced at 5.50% until 31 December 2028, the deal charges a reasonable fee of £999, which can be added to the advance of the mortgage and comes with a cashback incentive of £250 for qualifying ‘Green Home’ properties. The attractive package overall may still attract borrowers looking to save on the upfront cost of their mortgage. The deal secures a place in our top tables and an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.50% fixed rate to 31.12.28
Product fee: £999
Maximum loan-to-value: 90%
Available to: House purchase customers
Incentives: ‘Green Home’ £250 cashback for qualifying properties only
Flexible features: Allows overpayments. Payment holidays considered, after one year, and subject to approval.
Lending area: Great Britain and Northern Ireland.

first direct – Three-year fixed rate mortgage, 75% loan-to-value

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

“This week, first direct has reduced selected fixed rates in its range, including its three-year fixed offer at 75% loan-to-value. Now priced at 5.79%, the deal may appeal to borrowers looking to save on the upfront cost of their mortgage. A free valuation for all borrowers is part of its incentive package, with free legal fees for those remortgaging, plus the deal charges a reasonable £490 product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.79% fixed rate for three years
Product fee: £490
Maximum loan-to-value: 75%
Available to: All borrowers
Incentives: Free valuation for all borrowers and free legal fees for those remortgaging
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

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

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

“HSBC has reduced rates across selected fixed deals this week, including its two-year fixed mortgage at 75% loan-to-value. Now priced at 6.04% and fixed to 31 October 2025, this deal carries 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: 6.04% fixed rate to 31.10.25
Product fee: None
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuation and £250 cashback
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland

NatWest – Two-year variable tracker rate mortgage, 90% loan-to-value

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

“NatWest has reduced the rate on its two-year variable tracker deal this week. Now priced at 6.33% for two years, the deal is available for borrowers at 90% loan-to-value. Borrowers will find a free valuation incentive is included and it does not charge a product fee, which may attract those looking to save on the upfront cost. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

6.33% variable tracker rate (BBR + 1.08%) to 31.12.25
Product fee: None
Maximum loan-to-value: 90%
Available to: House purchase customers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain, Northern Ireland.

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.

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

Caitlyn Eastell Apprentice Press & PR Assistant

©2024 Moneyfacts Group plc. All Rights Reserved. Use of this Website constitutes acceptance of the Company’s General Terms of Use & Privacy Policy. Moneyfacts Group plc is registered in England and Wales, company no. 4063110. Registered office: Moneyfacts House, 66-70 Thorpe Road, Norwich, NR1 1BJ. Moneyfacts, MONEY £ ACTS and INTEREST are Registered Trademarks.

©2024 Moneyfacts Group plc. All Rights Reserved. Use of this Website constitutes acceptance of the Company’s General Terms of Use & Privacy Policy. Moneyfacts Group plc is registered in England and Wales, company no. 4063110. Registered office: Moneyfacts House, 66-70 Thorpe Road, Norwich, NR1 1BJ. Moneyfacts, MONEY £ ACTS and INTEREST are Registered Trademarks.