Moneyfacts Pick of the Week - 31/10/2024

Caitlyn Eastell, Apprentice Press & PR Assistant

Caitlyn Eastell, Apprentice Press & PR Assistant 01603 476169 Email Caitlyn

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 spokesperson at Moneyfactscompare.co.uk.

This week, our resident Spokesperson, Caitlyn Eastell, 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 spokesperson at Moneyfactscompare.co.uk.

This week, our resident Spokesperson, Caitlyn Eastell, has analysed the following deals, along with their perks, of note:

Savings

Trading 212 – Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week Trading 212 increased the rate on its Cash ISA. Paying 5.02% gross, the deal takes a joint market-leading position when compared against its peers in the variable cash ISA market. This may be an enticing option for savers who would like more flexibility with their tax-free savings. The deal may appeal to many as it does not require any minimum opening balance and additions can be as small as £1. On assessment, the account secures an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.02% gross / 5.15% AER payable daily
Notice / term: None
Minimum opening amount: None
Maximum investment amount: ISA allowance
Access: Permitted
Further additions: Permitted
Transfers in: Permitted. Accepts Cash and Stocks & Shares ISAs
Transfers out: Permitted
Opening account: Online and via mobile app
Managing account: Online and via mobile app
Other information: Minimum applicant age 18. Flexible ISA rules apply.

Moneybox – Moneybox Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Moneybox has increased the rate on its Moneybox Cash ISA. The deal shares top position in the variable rate ISA market. It now pays an attractive 5.15%, which includes a bonus of 0.45% for the first 12 months, so savers would be wise to review after this period. Savers looking for flexibility and instant access to their savings pots may find this an enticing option as withdrawals and further additions are permitted; however, savers should note that only three withdrawals can be made per year before a lower rate is paid. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.15% gross / 5.15% AER payable on anniversary (includes a 0.45% bonus for 12 months)
Notice / term: None
Minimum opening amount: £500
Maximum investment amount: ISA allowance
Access: Permitted. Lower rate paid if more than three withdrawals made per year
Further additions: Permitted
Transfers in: Permitted. Accepts Cash, Stocks and Shares, Help to Buy, Lifetime, Stock and Shares LISAs, and Innovative Finance ISAs
Transfers out: Permitted
Opening account: Via mobile app
Managing account: Via mobile app
Other information: Minimum applicant age 18.

Isbank – Raisin UK – 2 Year Fixed Term Deposit

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Isbank has increased rates on a selection of its Fixed Term Deposits this week, including its two-year fixed option, which takes a prominent position in the sector. The deal now pays 4.55% and may well entice savers who are happy to lock away their cash to secure a competitive return. Earlier access and further additions are not permitted, so savers must ensure they are comfortable with their initial investment. Overall, this account receives an Excellent Moneyfacts product rating.

Key product details:

Rate: 4.55% gross / 4.55% AER, payable yearly
Notice / term: Two year
Minimum opening amount: £1,000
Maximum investment amount: £85,000
Access: Not permitted
Further additions: Not permitted
Opening account: Online and via mobile app
Managing account: Online and via mobile app
Other information: Minimum applicant age 18. Account available via the Raisin UK platform.

Virgin Money – 1 Year Fixed Rate Cash ISA Exclusive Issue 17

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside extending the end date and changing the issue number, Virgin Money has reduced the rate on its one-year fixed rate cash ISA this week. The deal pays a rate of 4.51% gross and may appeal to savers who want to utilise their ISA allowance and are happy to lock their cash away for a year, however, earlier access can be granted subject to a 60-day loss of interest penalty. The account can be set up with no minimum deposit, following certain opening criteria. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.51% gross / 4.51% AER payable on maturity
Notice / term: To 31.10.25
Minimum opening amount: £0
Maximum investment amount: ISA allowance
Access: Permitted, subject to a 60-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 a 60-day loss of interest penalty
Opening account: Online and in branch
Managing account: Online, in branch, by post, by phone, and via its mobile app
Other information: Minimum applicant age 18. Available to new and existing Virgin Money current account customers from 4/12/19 or existing customers who originally opened a Clydesdale Bank, Yorkshire Bank or B current account.

Shawbrook Bank – 3 Year Fixed Rate Cash ISA Bond Issue 59

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Shawbrook Bank has increased the rate on a handful of its fixed rate cash ISAs this week, including its three-year option to 4.21% gross, improving its overall appeal. Unlike some of its peers, this deal also offers a monthly interest option, which pays 4.13% gross. Savers searching for a guaranteed return on their cash and wishing to utilise their ISA allowance may find this a competitive choice as the deal holds a more prominent position in its sector. Consumers can make Cash and Stocks and Shares ISA transfers into the account, and if they so wish, access their deposit subject to a loss of interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.21% gross / 4.21% AER payable on anniversary/ monthly interest option of 4.13% gross / 4.21% AER also available
Notice / term: Three year
Minimum opening amount: £1,000
Maximum investment amount: ISA allowance
Access: Permitted, subject to 270-day loss of interest penalty
Further additions: Permitted
Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
Transfers out: Permitted, subject to 270-day loss of interest penalty
Opening account: Online
Managing account: Online and telephone
Other information: Minimum applicant age 18.

Mortgages

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

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Barclays Mortgage has reduced selected fixed rates in its range this week, including its two-year fixed offer at 75% loan-to-value. The deal has seen a 0.26% reduction and is now priced at 4.33% until 31 December 2026 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, adding to its appeal, there is no chargeable product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.33% fixed rate to 31.12.26
Product fee: None
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

Darlington Building Society – Two-year fixed rate mortgage, 90% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside adjusting end dates and making fee and lending area amendments, Darlington Building Society has reduced the rates on a handful of fixed rates in its residential range this week, including its two-year fixed offer at 90% loan-to-value. The deal has seen a generous 0.25% reduction and is now priced at 5.14% until 31 January 2027, which sees it sit comfortably in the top of its sector and may appeal to borrowers looking to secure a competitive rate. Adding to its appeal, the £999 product fee was removed, and it continues to offer a free valuation incentive. On assessment, this product takes a position as a Best Buy for remortgages and earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.14% fixed rate to 31.1.27
Product fee: None
Maximum loan-to-value: 90%
Available to: All borrowers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: England, Wales, mainland Scotland.

Savings

Trading 212 – Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week Trading 212 increased the rate on its Cash ISA. Paying 5.02% gross, the deal takes a joint market-leading position when compared against its peers in the variable cash ISA market. This may be an enticing option for savers who would like more flexibility with their tax-free savings. The deal may appeal to many as it does not require any minimum opening balance and additions can be as small as £1. On assessment, the account secures an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.02% gross / 5.15% AER payable daily
Notice / term: None
Minimum opening amount: None
Maximum investment amount: ISA allowance
Access: Permitted
Further additions: Permitted
Transfers in: Permitted. Accepts Cash and Stocks & Shares ISAs
Transfers out: Permitted
Opening account: Online and via mobile app
Managing account: Online and via mobile app
Other information: Minimum applicant age 18. Flexible ISA rules apply.

Moneybox – Moneybox Cash ISA

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“This week, Moneybox has increased the rate on its Moneybox Cash ISA. The deal shares top position in the variable rate ISA market. It now pays an attractive 5.15%, which includes a bonus of 0.45% for the first 12 months, so savers would be wise to review after this period. Savers looking for flexibility and instant access to their savings pots may find this an enticing option as withdrawals and further additions are permitted; however, savers should note that only three withdrawals can be made per year before a lower rate is paid. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 5.15% gross / 5.15% AER payable on anniversary (includes a 0.45% bonus for 12 months)
Notice / term: None
Minimum opening amount: £500
Maximum investment amount: ISA allowance
Access: Permitted. Lower rate paid if more than three withdrawals made per year
Further additions: Permitted
Transfers in: Permitted. Accepts Cash, Stocks and Shares, Help to Buy, Lifetime, Stock and Shares LISAs, and Innovative Finance ISAs
Transfers out: Permitted
Opening account: Via mobile app
Managing account: Via mobile app
Other information: Minimum applicant age 18.

Isbank – Raisin UK – 2 Year Fixed Term Deposit

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Isbank has increased rates on a selection of its Fixed Term Deposits this week, including its two-year fixed option, which takes a prominent position in the sector. The deal now pays 4.55% and may well entice savers who are happy to lock away their cash to secure a competitive return. Earlier access and further additions are not permitted, so savers must ensure they are comfortable with their initial investment. Overall, this account receives an Excellent Moneyfacts product rating.

Key product details:

Rate: 4.55% gross / 4.55% AER, payable yearly
Notice / term: Two year
Minimum opening amount: £1,000
Maximum investment amount: £85,000
Access: Not permitted
Further additions: Not permitted
Opening account: Online and via mobile app
Managing account: Online and via mobile app
Other information: Minimum applicant age 18. Account available via the Raisin UK platform.

Virgin Money – 1 Year Fixed Rate Cash ISA Exclusive Issue 17

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside extending the end date and changing the issue number, Virgin Money has reduced the rate on its one-year fixed rate cash ISA this week. The deal pays a rate of 4.51% gross and may appeal to savers who want to utilise their ISA allowance and are happy to lock their cash away for a year, however, earlier access can be granted subject to a 60-day loss of interest penalty. The account can be set up with no minimum deposit, following certain opening criteria. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.51% gross / 4.51% AER payable on maturity
Notice / term: To 31.10.25
Minimum opening amount: £0
Maximum investment amount: ISA allowance
Access: Permitted, subject to a 60-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 a 60-day loss of interest penalty
Opening account: Online and in branch
Managing account: Online, in branch, by post, by phone, and via its mobile app
Other information: Minimum applicant age 18. Available to new and existing Virgin Money current account customers from 4/12/19 or existing customers who originally opened a Clydesdale Bank, Yorkshire Bank or B current account.

Shawbrook Bank – 3 Year Fixed Rate Cash ISA Bond Issue 59

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Shawbrook Bank has increased the rate on a handful of its fixed rate cash ISAs this week, including its three-year option to 4.21% gross, improving its overall appeal. Unlike some of its peers, this deal also offers a monthly interest option, which pays 4.13% gross. Savers searching for a guaranteed return on their cash and wishing to utilise their ISA allowance may find this a competitive choice as the deal holds a more prominent position in its sector. Consumers can make Cash and Stocks and Shares ISA transfers into the account, and if they so wish, access their deposit subject to a loss of interest penalty. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.21% gross / 4.21% AER payable on anniversary/ monthly interest option of 4.13% gross / 4.21% AER also available
Notice / term: Three year
Minimum opening amount: £1,000
Maximum investment amount: ISA allowance
Access: Permitted, subject to 270-day loss of interest penalty
Further additions: Permitted
Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
Transfers out: Permitted, subject to 270-day loss of interest penalty
Opening account: Online
Managing account: Online and telephone
Other information: Minimum applicant age 18.

Mortgages

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

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Barclays Mortgage has reduced selected fixed rates in its range this week, including its two-year fixed offer at 75% loan-to-value. The deal has seen a 0.26% reduction and is now priced at 4.33% until 31 December 2026 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, adding to its appeal, there is no chargeable product fee. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.33% fixed rate to 31.12.26
Product fee: None
Maximum loan-to-value: 75%
Available to: House purchase customers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

Darlington Building Society – Two-year fixed rate mortgage, 90% loan-to-value

Commenting on the deal, Caitlyn Eastell, Spokesperson at Moneyfactscompare.co.uk, said:

“Alongside adjusting end dates and making fee and lending area amendments, Darlington Building Society has reduced the rates on a handful of fixed rates in its residential range this week, including its two-year fixed offer at 90% loan-to-value. The deal has seen a generous 0.25% reduction and is now priced at 5.14% until 31 January 2027, which sees it sit comfortably in the top of its sector and may appeal to borrowers looking to secure a competitive rate. Adding to its appeal, the £999 product fee was removed, and it continues to offer a free valuation incentive. On assessment, this product takes a position as a Best Buy for remortgages and earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.14% fixed rate to 31.1.27
Product fee: None
Maximum loan-to-value: 90%
Available to: All borrowers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: England, Wales, mainland Scotland.

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.