Moneyfacts Pick of the Week - 19/12/2024

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

Moneybox – Moneybox Cash ISA

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

“This week, Moneybox has reduced the rate on its Moneybox Cash ISA. Despite the reduction, the deal maintains a prominent position in the market when compared against its peers. It now pays an attractive 4.92%, which includes a bonus of 0.47% for the first 12 months, so savers should 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 the rate drops to 0.75%. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.92% gross / 4.92% AER payable on anniversary (includes a 0.47% 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, Cash LISAs, 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.

LHV Bank – Raisin UK – 1 Year Fixed Term Deposit

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

“This week LHV Bank has increased the rate on its Raisin UK 1 Year Fixed Term Deposit by 0.23%. This bond takes a competitive place in the top tables when compared to bonds of a similar tier. Paying 4.73% on £1,000 starting investments, this may be an ideal choice for savers looking to receive a guaranteed return. However, much like many fixed rate accounts, earlier access and further additions are not permitted. Overall, the account receives an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.73% gross / 4.73% AER payable on maturity (compounded annually)
Notice / term: One 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 by Raisin UK
Managing account: Online and via mobile app by Raisin UK
Other information: Minimum applicant age 18.

Castle Trust Bank – 2 Year Fixed Rate e-Saver

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

“Castle Trust Bank has increased the rate on its two-year Fixed Rate e-Saver this week, which improves its position within the market. The rate boost sees it take the market-leading position at 4.64%. It may well appeal to savers looking to receive a guaranteed return on their investments. Earlier access is not permitted so it is crucial savers plan carefully from the outset, however, in more positive news, further additions are permitted for 14 days from the account opening. Savers will need to fund their account with a minimum of £1,000 within this period, otherwise no interest payment will be made, and their money will be refunded. On assessment, the account secures an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.64% gross / 4.64% AER payable on maturity
Notice / term: Two years
Minimum opening amount: £1,000
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. New customers can only open an account via the website, after which they gain access to the mobile app and can open subsequent accounts using the Self Service Portal or mobile app. Castle Trust Bank will plant a tree when an e-Cash ISA or e-Saver account is opened and funded within the 14-day funding window. If minimum investment is not made within 14 days of account opening, no interest is paid and the balance will be refunded.

SmartSave – 5 Year Fixed Rate Saver

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

“This week SmartSave has increased the rate on a range of its Fixed Rate Savers, including its five-year option. The account maintains a competitive position within its sector and pays 4.50%, for those able to invest a minimum of £10,000. As is the case with many fixed bonds, savers cannot withdraw their cash before the term is completed, but they may be happy to see that further additions can be made for 14 days from the account opening. Overall, the account receives an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.50% gross / 4.50% AER payable on maturity (compounded annually)
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.

Investec Bank plc – 3 Year Fixed Rate Saver

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

“This week, Investec Bank has increased the rate on its two-year and three-year fixed rate savers. Faring best is the three-year option which pays 4.50% on a £5,000 minimum investment. Although earlier access is not permitted, savers are able to make further additions for seven days from the account opening which may improve its appeal. This deal may serve as an enticing option for savers who wish to receive a guaranteed return for longer. On assessment, this deal secures a position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.50% gross / 4.50% AER payable yearly
Notice / term: Three years
Minimum opening amount: £5,000
Maximum investment amount: £250,000
Access: Not permitted
Further additions: Permitted for seven days from account opening
Opening account: Online
Managing account: Online
Other information: Minimum applicant age 18.

Hampshire Trust Bank – 1 Year Online ISA Fixed Saver (Issue 36)

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

“This week, Hampshire Trust Bank has made a range of changes to its products, among these a reduction to its 1 Year Online ISA Fixed Saver. Despite this, the deal retains a competitive position in the market when compared against other ISAs of the same term and now pays 4.46% on as little as £1. Savers looking to utilise their ISA allowance may find this an enticing deal. Earlier access is permitted subject to 90 days’ loss of interest. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.46% gross / 4.46% AER payable on anniversary
Notice / term: One year
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted. Subject to 90 days’ loss of interest
Further additions: Permitted for 14 days from account opening via a nominated account
Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
Transfers out: Permitted. Subject to 90 days’ loss of interest
Opening account: Online
Managing account: Online and by phone
Other information: Minimum applicant age 18.

Mortgages

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

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

“TSB has reduced selected remortgage fixed rate offers by up to 0.25% this week. One deal to see a smaller cut is the five-year deal at 75% loan-to-value, which is now priced at 4.19% until 31 March 2030. Borrowers will note there is a reasonable £995 product fee attached, and it also comes with an attractive incentive package which includes a free valuation and free legal fees, making it an ideal option for those looking to save on the upfront cost of their mortgage. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.19% fixed rate to 31.03.30
Product fee: £995
Maximum loan-to-value: 75%
Available to: Remortgage customers
Incentives: Free valuation and free legal fees
Flexible features: Allows overpayments. Also payment holidays after one year, which are subject to approval
Lending area: Great Britain.

Furness Building Society – Two-year fixed rate mortgage, 95% loan-to-value

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

“The latest update from Furness Building Society sees it refresh its residential mortgage range including reductions of up to 0.30%. Its two-year option at 95% loan-to-value has seen a smaller cut of 0.08% to 5.49%, which strengthens its position as a Best Buy for first-time buyers. Borrowers wishing to save on the upfront cost of their mortgage may find this an enticing deal as it does not charge any product fees. Further adding to its appeal is an attractive incentive package which includes a free valuation and £250 cashback for all borrowers. Overall, this deal secures an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.49% fixed rate for two years
Product fee: None
Maximum loan-to-value: 95%
Available to: House purchase customers
Incentives: Free valuation and £250 cashback
Flexible features: Allows overpayments
Lending area: Great Britain.

Buy-to-Let

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

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

“This week HSBC has increased the majority of its fixed rate mortgages by up to 0.25%. One of the options to receive a 0.15% hike is its five-year fixed rate deal at 75% loan-to-value, which now charges 4.24% until 28 February 2030. However, landlords must note that there is a large £3,999 fee attached, partially offset by a free valuation incentive. Overall, this product earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.24% fixed rate to 28.2.30
Product fee: £3,999
Maximum loan-to-value: 75%
Available to: Second-time buyers
Incentives: Free valuation
Flexible features: Allows overpayments
Lending area: Great Britain and Northern Ireland.

Savings

Moneybox – Moneybox Cash ISA

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

“This week, Moneybox has reduced the rate on its Moneybox Cash ISA. Despite the reduction, the deal maintains a prominent position in the market when compared against its peers. It now pays an attractive 4.92%, which includes a bonus of 0.47% for the first 12 months, so savers should 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 the rate drops to 0.75%. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.92% gross / 4.92% AER payable on anniversary (includes a 0.47% 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, Cash LISAs, 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.

LHV Bank – Raisin UK – 1 Year Fixed Term Deposit

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

“This week LHV Bank has increased the rate on its Raisin UK 1 Year Fixed Term Deposit by 0.23%. This bond takes a competitive place in the top tables when compared to bonds of a similar tier. Paying 4.73% on £1,000 starting investments, this may be an ideal choice for savers looking to receive a guaranteed return. However, much like many fixed rate accounts, earlier access and further additions are not permitted. Overall, the account receives an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.73% gross / 4.73% AER payable on maturity (compounded annually)
Notice / term: One 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 by Raisin UK
Managing account: Online and via mobile app by Raisin UK
Other information: Minimum applicant age 18.

Castle Trust Bank – 2 Year Fixed Rate e-Saver

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

“Castle Trust Bank has increased the rate on its two-year Fixed Rate e-Saver this week, which improves its position within the market. The rate boost sees it take the market-leading position at 4.64%. It may well appeal to savers looking to receive a guaranteed return on their investments. Earlier access is not permitted so it is crucial savers plan carefully from the outset, however, in more positive news, further additions are permitted for 14 days from the account opening. Savers will need to fund their account with a minimum of £1,000 within this period, otherwise no interest payment will be made, and their money will be refunded. On assessment, the account secures an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.64% gross / 4.64% AER payable on maturity
Notice / term: Two years
Minimum opening amount: £1,000
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. New customers can only open an account via the website, after which they gain access to the mobile app and can open subsequent accounts using the Self Service Portal or mobile app. Castle Trust Bank will plant a tree when an e-Cash ISA or e-Saver account is opened and funded within the 14-day funding window. If minimum investment is not made within 14 days of account opening, no interest is paid and the balance will be refunded.

SmartSave – 5 Year Fixed Rate Saver

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

“This week SmartSave has increased the rate on a range of its Fixed Rate Savers, including its five-year option. The account maintains a competitive position within its sector and pays 4.50%, for those able to invest a minimum of £10,000. As is the case with many fixed bonds, savers cannot withdraw their cash before the term is completed, but they may be happy to see that further additions can be made for 14 days from the account opening. Overall, the account receives an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.50% gross / 4.50% AER payable on maturity (compounded annually)
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.

Investec Bank plc – 3 Year Fixed Rate Saver

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

“This week, Investec Bank has increased the rate on its two-year and three-year fixed rate savers. Faring best is the three-year option which pays 4.50% on a £5,000 minimum investment. Although earlier access is not permitted, savers are able to make further additions for seven days from the account opening which may improve its appeal. This deal may serve as an enticing option for savers who wish to receive a guaranteed return for longer. On assessment, this deal secures a position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.50% gross / 4.50% AER payable yearly
Notice / term: Three years
Minimum opening amount: £5,000
Maximum investment amount: £250,000
Access: Not permitted
Further additions: Permitted for seven days from account opening
Opening account: Online
Managing account: Online
Other information: Minimum applicant age 18.

Hampshire Trust Bank – 1 Year Online ISA Fixed Saver (Issue 36)

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

“This week, Hampshire Trust Bank has made a range of changes to its products, among these a reduction to its 1 Year Online ISA Fixed Saver. Despite this, the deal retains a competitive position in the market when compared against other ISAs of the same term and now pays 4.46% on as little as £1. Savers looking to utilise their ISA allowance may find this an enticing deal. Earlier access is permitted subject to 90 days’ loss of interest. Overall, this deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.46% gross / 4.46% AER payable on anniversary
Notice / term: One year
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted. Subject to 90 days’ loss of interest
Further additions: Permitted for 14 days from account opening via a nominated account
Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
Transfers out: Permitted. Subject to 90 days’ loss of interest
Opening account: Online
Managing account: Online and by phone
Other information: Minimum applicant age 18.

Mortgages

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

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

“TSB has reduced selected remortgage fixed rate offers by up to 0.25% this week. One deal to see a smaller cut is the five-year deal at 75% loan-to-value, which is now priced at 4.19% until 31 March 2030. Borrowers will note there is a reasonable £995 product fee attached, and it also comes with an attractive incentive package which includes a free valuation and free legal fees, making it an ideal option for those looking to save on the upfront cost of their mortgage. Overall, the deal earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.19% fixed rate to 31.03.30
Product fee: £995
Maximum loan-to-value: 75%
Available to: Remortgage customers
Incentives: Free valuation and free legal fees
Flexible features: Allows overpayments. Also payment holidays after one year, which are subject to approval
Lending area: Great Britain.

Furness Building Society – Two-year fixed rate mortgage, 95% loan-to-value

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

“The latest update from Furness Building Society sees it refresh its residential mortgage range including reductions of up to 0.30%. Its two-year option at 95% loan-to-value has seen a smaller cut of 0.08% to 5.49%, which strengthens its position as a Best Buy for first-time buyers. Borrowers wishing to save on the upfront cost of their mortgage may find this an enticing deal as it does not charge any product fees. Further adding to its appeal is an attractive incentive package which includes a free valuation and £250 cashback for all borrowers. Overall, this deal secures an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 5.49% fixed rate for two years
Product fee: None
Maximum loan-to-value: 95%
Available to: House purchase customers
Incentives: Free valuation and £250 cashback
Flexible features: Allows overpayments
Lending area: Great Britain.

Buy-to-Let

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

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

“This week HSBC has increased the majority of its fixed rate mortgages by up to 0.25%. One of the options to receive a 0.15% hike is its five-year fixed rate deal at 75% loan-to-value, which now charges 4.24% until 28 February 2030. However, landlords must note that there is a large £3,999 fee attached, partially offset by a free valuation incentive. Overall, this product earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.24% fixed rate to 28.2.30
Product fee: £3,999
Maximum loan-to-value: 75%
Available to: Second-time buyers
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.