Moneyfacts Pick of the Week - 23/03/2023

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

Cynergy Bank – 1 Year Fixed Rate Bond

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

“This week Cynergy Bank has increased rates on its range of fixed bonds, which includes the one-year fixed option that now pays 4.42%. The deal sits in a prominent position against other bonds that are fixed for 12 months and may entice savers who are looking for a competitive return and are happy to lock their cash away for the next year. As is common with a fixed bond, no earlier access is permitted, and investors will need a minimum of £10,000 to deposit to be eligible. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.42% gross / 4.42% AER payable on its anniversary
Notice / term: One year
Minimum opening amount: £10,000
Maximum investment amount: £1 million
Access: Not permitted
Further additions: Permitted for 14 days from account opening
Opening account: Online
Managing account: Online, by post and by phone
Other information: Minimum applicant age 18. Joint account option available. Cynergy Bank Authenticator App or Digipass required to use online banking.

Close Brothers Savings – 95 Day Notice Account (Issue 14)

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

“Savers searching for a competitive rate, but also happy to give notice to access their cash after a few months, may appreciate the latest rate rise by Close Brothers Savings this week. The 95 Day Notice account now pays 3.55% and may appeal to savers looking for a bit of flexibility with their investment. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 3.55% gross / 3.55% AER payable yearly
Notice / term: 95 days
Minimum opening amount: £10,000
Maximum investment amount: £2 million
Access: Permitted, subject to 95 days’ notice
Further additions: Permitted
Opening account: Online
Managing account: Online, by phone and by post
Other information: Minimum applicant age 18. Joint account option available.

Santander – 18 Month Fixed Rate ISA

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

“Santander has launched a new 18 Month Fixed Rate ISA this week, which takes a competitive position within our top rate tables. The deal pays a rate of 4.25% yearly and may appeal to savers who want to invest over the shorter-term and those looking to use their ISA allowance before the new tax year begins. This ISA permits savers to make transfers in for 14 days from account opening, but savers will be subject to 120 days’ loss of interest penalty and closure of the account should they wish to access their money early. On review, the account earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.25% gross / 4.25% AER payable yearly
Notice / term: To 1.10.24
Minimum opening amount: £500
Maximum investment amount: ISA allowance
Access: Permitted, subject to account closure and 120 days’ loss of interest penalty
Further additions: Permitted until 30.4.23
Transfers in: Permitted for 14 days from account opening for external transfers, and until 30.4.23 for internal transfers. Accepts Cash and Stocks and Shares ISAs.
Transfers out: Permitted, subject to account closure and 120 days’ loss of interest penalty
Opening account: Online, in branch, and via its mobile app
Managing account: In branch and by phone.
Other information: Minimum applicant age 16. £50 e-voucher when transferring in from a non-Santander ISA of £10,000 or more to a Santander Fixed Rate ISA.

Mortgages

Santander – Five-year fixed rate mortgage, 75% loan-to-value

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

“Santander has made several rate reductions to its range this week, along with extending end dates. Its five-year fixed rate deal priced at 4.15% may appeal to house purchase customers looking to secure a competitive rate and package. A free valuation incentive is included and there is no product fee to pay, which is attractive for those looking to save on the upfront cost of their deal. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.15% fixed rate to 2.7.28
Product fee: None
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuatio
Flexible features: Allows overpayments
Lending area: Great Britain & Northern Ireland.

first direct – Two-year fixed rate mortgage, 80% loan-to-value

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

“Borrowers with a 20% deposit searching for a competitive mortgage rate with a low upfront cost may find this week’s rate cut by first direct appealing. Its two-year fixed rate mortgage is now priced at 4.59% and charges a reasonable £490 product fee. The deal also boasts an incentive package of free valuation for all borrowers and free legal fees for remortgage customers. This product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.59% fixed rate for two years
Product fee: £490
Maximum loan-to-value: 80%
Available to: All borrowers
Incentives: Free valuation and free legal fees for remortgage customers
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

Virgin Money – Three-year fixed rate mortgage, 90% loan-to-value

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

“This week, Virgin Money has reduced selected fixed rates in its range, including its three-year fixed mortgage at 90% loan-to-value. Now priced at 4.79%, this deal charges a product fee of £995, and it offers a £300 cashback incentive. Those borrowers with a limited deposit of 10% looking for a competitive package may find this an attractive choice. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.79% fixed rate to 1.8.26
Product fee: £995
Maximum loan-to-value: 90%
Available to: House purchase customers
Incentives: £300 cashback
Flexible features: Allows overpayments. Payment holidays considered by arrangement.
Lending area: Great Britain and Northern Ireland.

Buy-to-let

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

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

“Landlords searching for a competitive deal with a generous incentive package may find the two-year fixed deal from Virgin Money appealing. After a rate cut, the deal is now priced at 4.82% and includes an incentive package which varies depending on the type of borrower. The deal does carry a product fee of £995, but this can be added to the mortgage advance should borrowers wish to do so. Overall, this earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.82% fixed rate to 1.8.25
Product fee: £995
Maximum loan-to-value: 60%
Available to: Second-time buyers and remortgage borrowers
Incentives: £500 cashback for second-time buyers, while those remortgaging can benefit from a free valuation and either £300 cashback or free legal fees
Flexible features: Allows overpayments. Payment holidays considered by arrangement.
Lending area: Great Britain and Northern Ireland.

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

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

“Landlords looking for a competitive package may find the two-year fixed rate deal from NatWest attractive. After a rate cut this week, the deal is now priced at 4.91% and includes an incentive package of a free valuation, good news for those with a 25% deposit looking to save on the upfront cost of their deal. The mortgage does carry a product fee of £995, but this can be added to the mortgage advance. As a result, the deal earns a Moneyfacts product rating of Outstanding.”

Key product details:

Rate: 4.91% fixed rate to 31.8.25
Product fee: £995
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

Savings

Cynergy Bank – 1 Year Fixed Rate Bond

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

“This week Cynergy Bank has increased rates on its range of fixed bonds, which includes the one-year fixed option that now pays 4.42%. The deal sits in a prominent position against other bonds that are fixed for 12 months and may entice savers who are looking for a competitive return and are happy to lock their cash away for the next year. As is common with a fixed bond, no earlier access is permitted, and investors will need a minimum of £10,000 to deposit to be eligible. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.42% gross / 4.42% AER payable on its anniversary
Notice / term: One year
Minimum opening amount: £10,000
Maximum investment amount: £1 million
Access: Not permitted
Further additions: Permitted for 14 days from account opening
Opening account: Online
Managing account: Online, by post and by phone
Other information: Minimum applicant age 18. Joint account option available. Cynergy Bank Authenticator App or Digipass required to use online banking.

Close Brothers Savings – 95 Day Notice Account (Issue 14)

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

“Savers searching for a competitive rate, but also happy to give notice to access their cash after a few months, may appreciate the latest rate rise by Close Brothers Savings this week. The 95 Day Notice account now pays 3.55% and may appeal to savers looking for a bit of flexibility with their investment. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 3.55% gross / 3.55% AER payable yearly
Notice / term: 95 days
Minimum opening amount: £10,000
Maximum investment amount: £2 million
Access: Permitted, subject to 95 days’ notice
Further additions: Permitted
Opening account: Online
Managing account: Online, by phone and by post
Other information: Minimum applicant age 18. Joint account option available.

Santander – 18 Month Fixed Rate ISA

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

“Santander has launched a new 18 Month Fixed Rate ISA this week, which takes a competitive position within our top rate tables. The deal pays a rate of 4.25% yearly and may appeal to savers who want to invest over the shorter-term and those looking to use their ISA allowance before the new tax year begins. This ISA permits savers to make transfers in for 14 days from account opening, but savers will be subject to 120 days’ loss of interest penalty and closure of the account should they wish to access their money early. On review, the account earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.25% gross / 4.25% AER payable yearly
Notice / term: To 1.10.24
Minimum opening amount: £500
Maximum investment amount: ISA allowance
Access: Permitted, subject to account closure and 120 days’ loss of interest penalty
Further additions: Permitted until 30.4.23
Transfers in: Permitted for 14 days from account opening for external transfers, and until 30.4.23 for internal transfers. Accepts Cash and Stocks and Shares ISAs.
Transfers out: Permitted, subject to account closure and 120 days’ loss of interest penalty
Opening account: Online, in branch, and via its mobile app
Managing account: In branch and by phone.
Other information: Minimum applicant age 16. £50 e-voucher when transferring in from a non-Santander ISA of £10,000 or more to a Santander Fixed Rate ISA.

Mortgages

Santander – Five-year fixed rate mortgage, 75% loan-to-value

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

“Santander has made several rate reductions to its range this week, along with extending end dates. Its five-year fixed rate deal priced at 4.15% may appeal to house purchase customers looking to secure a competitive rate and package. A free valuation incentive is included and there is no product fee to pay, which is attractive for those looking to save on the upfront cost of their deal. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.15% fixed rate to 2.7.28
Product fee: None
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuatio
Flexible features: Allows overpayments
Lending area: Great Britain & Northern Ireland.

first direct – Two-year fixed rate mortgage, 80% loan-to-value

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

“Borrowers with a 20% deposit searching for a competitive mortgage rate with a low upfront cost may find this week’s rate cut by first direct appealing. Its two-year fixed rate mortgage is now priced at 4.59% and charges a reasonable £490 product fee. The deal also boasts an incentive package of free valuation for all borrowers and free legal fees for remortgage customers. This product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.59% fixed rate for two years
Product fee: £490
Maximum loan-to-value: 80%
Available to: All borrowers
Incentives: Free valuation and free legal fees for remortgage customers
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

Virgin Money – Three-year fixed rate mortgage, 90% loan-to-value

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

“This week, Virgin Money has reduced selected fixed rates in its range, including its three-year fixed mortgage at 90% loan-to-value. Now priced at 4.79%, this deal charges a product fee of £995, and it offers a £300 cashback incentive. Those borrowers with a limited deposit of 10% looking for a competitive package may find this an attractive choice. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.79% fixed rate to 1.8.26
Product fee: £995
Maximum loan-to-value: 90%
Available to: House purchase customers
Incentives: £300 cashback
Flexible features: Allows overpayments. Payment holidays considered by arrangement.
Lending area: Great Britain and Northern Ireland.

Buy-to-let

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

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

“Landlords searching for a competitive deal with a generous incentive package may find the two-year fixed deal from Virgin Money appealing. After a rate cut, the deal is now priced at 4.82% and includes an incentive package which varies depending on the type of borrower. The deal does carry a product fee of £995, but this can be added to the mortgage advance should borrowers wish to do so. Overall, this earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.82% fixed rate to 1.8.25
Product fee: £995
Maximum loan-to-value: 60%
Available to: Second-time buyers and remortgage borrowers
Incentives: £500 cashback for second-time buyers, while those remortgaging can benefit from a free valuation and either £300 cashback or free legal fees
Flexible features: Allows overpayments. Payment holidays considered by arrangement.
Lending area: Great Britain and Northern Ireland.

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

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

“Landlords looking for a competitive package may find the two-year fixed rate deal from NatWest attractive. After a rate cut this week, the deal is now priced at 4.91% and includes an incentive package of a free valuation, good news for those with a 25% deposit looking to save on the upfront cost of their deal. The mortgage does carry a product fee of £995, but this can be added to the mortgage advance. As a result, the deal earns a Moneyfacts product rating of Outstanding.”

Key product details:

Rate: 4.91% fixed rate to 31.8.25
Product fee: £995
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain and 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

©2025 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.

©2025 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.