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Moneyfacts Pick of the Week - 25/01/2024

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Caitlyn Eastell, Apprentice Press & PR Assistant
Caitlyn Eastell, Apprentice Press & PR Assistant T: 01603 476169 E: Email Caitlyn
25/01/2024

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 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 expert at Moneyfactscompare.co.uk.

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

Savings

Allica Bank – 12-Month Fixed Term Savings Account (Issue 55)

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

“Allica Bank improves its position in the top 10 tables for its sector this week by increasing the rate on its 12-Month Fixed Term Savings Account. Now paying a competitive 5.15% on minimum investments of £10,000, this could be an attractive choice for savers who are happy to lock their cash away for a short term to receive a guaranteed return. Savers must ensure they’re comfortable with the term as early access to funds is not permitted, however, they may be glad to notice that further additions can be made for 14 days from opening the account, which may be a plus for some. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.15% gross / 5.15% AER payable on anniversary
  • Notice / term: 12 months
  • Minimum opening amount: £10,000
  • Maximum investment amount: £250,000
  • Access: Not permitted
  • Further additions: Permitted for 14 days from account opening, via nominated account
  • Opening account: Online
  • Managing account: Online and via its mobile app
  • Other information: Minimum applicant age 18.

 

Harpenden Building Society – Online ISA (Issue 1)

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

“Harpenden Building Society has re-launched its Online ISA this week. The account now pays a market-leading variable ISA rate of 5.10% and takes the top spot in our tables. This account may well appeal to savers who want to maintain flexibility in accessing their money, and who are still looking to make the most of their tax-free ISA allowance. Savers may also be glad to notice that further additions can be made via a nominated account, and it allows transfers in from Cash ISAs. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.10% gross / 5.10% AER payable yearly
  • Notice / term: None
  • Minimum opening amount: £1
  • Maximum investment amount: ISA allowance
  • Access: Permitted via nominated account
  • Further additions: Permitted via nominated account
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 16.

 

Atom Bank – 1 Year Fixed Saver

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

“This week, Atom Bank has increased rates on a range of its Fixed Savers, including its one-year fixed option, which improves its overall position in the sector. Now paying a competitive 5.10% gross/AER, it only requires a minimum investment of £1, which may appeal to many savers. Early access to this account is not permitted so investors must be comfortable with locking up their cash in the short-term to receive a guaranteed return. Savers looking to boost their income each month may also find there is a monthly interest option which pays 5.10% AER. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.10% gross / 5.10% AER payable on anniversary / monthly interest option of 4.98% gross / 5.10% AER also available
  • Notice / term: One year
  • Minimum opening amount: £50
  • Maximum investment amount: £100,000
  • Access: Not permitted
  • Further additions: Permitted for one week from account opening
  • Opening account: Via its mobile app
  • Managing account: Via its mobile app
  • Other information: Minimum applicant age 18.

 

Close Brothers Savings – Easy Access Account (Issue 2)

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

“Close Brothers Savings has increased the rate on its Easy Access Account (Issue 2) this week and now pays a competitive return of 5.10% on minimum investments of £10,000. As is common in the easy access market, savers will have unlimited access to their funds and there are no restrictions on further additions, which may appeal to those who wish to maintain flexibility. This account can only be set up and managed online. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.10% gross / 5.10% AER payable on anniversary
  • Notice / term: None
  • Minimum opening amount: £10,000
  • Maximum investment amount: £2 million
  • Access: Permitted
  • Further additions: Permitted
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18. Joint account option available.

 

Mortgages

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

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

“This week Barclays Mortgage has made significant cuts to a selection of fixed rates in its range, including its two-year fixed remortgage offer at 60% loan-to-value. Seeing a drop of 0.30%, the deal is now priced at 4.51% and may appeal greatly to borrowers looking to save on the upfront cost of their deal as it does not charge an arrangement fee and it also comes with an attractive incentive package, including a free valuation, free legal fees and £150 cashback. Alongside the rate reductions and appealing incentive package this deal becomes a Moneyfacts Best Buy and earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.51% fixed rate to 31.3.26
  • Product fee: None
  • Maximum loan-to-value: 60%
  • Available to: Remortgages
  • Incentives: Free valuation, free legal fees and £150 cashback
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.

 

Nationwide Building Society – Two-year fixed rate mortgage, 80% loan-to-value

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

“Nationwide BS’s latest refresh has seen new launches and several rate reductions across existing deals this week. One deal seeing a cut is its two-year fixed mortgage at 80% loan-to-value for house purchase customers. Now priced at an attractive 4.53% for the next two years, this deal takes a competitive ranking within its sector. It carries a fair fee of £999, which borrowers have the option of adding to the advance. Borrowers also have the choice of making overpayments and underpayments, subject to approval and having previously made overpayments. This deal also offers an incentive package, which includes a free valuation. Overall, it earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.53% fixed rate for two years
  • Product fee: £999
  • Maximum loan-to-value: 80%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments. Underpayments considered subject to approval and overpayments having been made previously
  • Lending area: Great Britain and Northern Ireland (excluding Scilly Isles).

 

Savings

Allica Bank – 12-Month Fixed Term Savings Account (Issue 55)

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

“Allica Bank improves its position in the top 10 tables for its sector this week by increasing the rate on its 12-Month Fixed Term Savings Account. Now paying a competitive 5.15% on minimum investments of £10,000, this could be an attractive choice for savers who are happy to lock their cash away for a short term to receive a guaranteed return. Savers must ensure they’re comfortable with the term as early access to funds is not permitted, however, they may be glad to notice that further additions can be made for 14 days from opening the account, which may be a plus for some. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.15% gross / 5.15% AER payable on anniversary
  • Notice / term: 12 months
  • Minimum opening amount: £10,000
  • Maximum investment amount: £250,000
  • Access: Not permitted
  • Further additions: Permitted for 14 days from account opening, via nominated account
  • Opening account: Online
  • Managing account: Online and via its mobile app
  • Other information: Minimum applicant age 18.

 

Harpenden Building Society – Online ISA (Issue 1)

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

“Harpenden Building Society has re-launched its Online ISA this week. The account now pays a market-leading variable ISA rate of 5.10% and takes the top spot in our tables. This account may well appeal to savers who want to maintain flexibility in accessing their money, and who are still looking to make the most of their tax-free ISA allowance. Savers may also be glad to notice that further additions can be made via a nominated account, and it allows transfers in from Cash ISAs. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.10% gross / 5.10% AER payable yearly
  • Notice / term: None
  • Minimum opening amount: £1
  • Maximum investment amount: ISA allowance
  • Access: Permitted via nominated account
  • Further additions: Permitted via nominated account
  • Transfers in: Permitted. Accepts Cash ISAs
  • Transfers out: Permitted
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 16.

 

Atom Bank – 1 Year Fixed Saver

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

“This week, Atom Bank has increased rates on a range of its Fixed Savers, including its one-year fixed option, which improves its overall position in the sector. Now paying a competitive 5.10% gross/AER, it only requires a minimum investment of £1, which may appeal to many savers. Early access to this account is not permitted so investors must be comfortable with locking up their cash in the short-term to receive a guaranteed return. Savers looking to boost their income each month may also find there is a monthly interest option which pays 5.10% AER. Overall, this account receives an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.10% gross / 5.10% AER payable on anniversary / monthly interest option of 4.98% gross / 5.10% AER also available
  • Notice / term: One year
  • Minimum opening amount: £50
  • Maximum investment amount: £100,000
  • Access: Not permitted
  • Further additions: Permitted for one week from account opening
  • Opening account: Via its mobile app
  • Managing account: Via its mobile app
  • Other information: Minimum applicant age 18.

 

Close Brothers Savings – Easy Access Account (Issue 2)

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

“Close Brothers Savings has increased the rate on its Easy Access Account (Issue 2) this week and now pays a competitive return of 5.10% on minimum investments of £10,000. As is common in the easy access market, savers will have unlimited access to their funds and there are no restrictions on further additions, which may appeal to those who wish to maintain flexibility. This account can only be set up and managed online. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 5.10% gross / 5.10% AER payable on anniversary
  • Notice / term: None
  • Minimum opening amount: £10,000
  • Maximum investment amount: £2 million
  • Access: Permitted
  • Further additions: Permitted
  • Opening account: Online
  • Managing account: Online
  • Other information: Minimum applicant age 18. Joint account option available.

 

Mortgages

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

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

“This week Barclays Mortgage has made significant cuts to a selection of fixed rates in its range, including its two-year fixed remortgage offer at 60% loan-to-value. Seeing a drop of 0.30%, the deal is now priced at 4.51% and may appeal greatly to borrowers looking to save on the upfront cost of their deal as it does not charge an arrangement fee and it also comes with an attractive incentive package, including a free valuation, free legal fees and £150 cashback. Alongside the rate reductions and appealing incentive package this deal becomes a Moneyfacts Best Buy and earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.51% fixed rate to 31.3.26
  • Product fee: None
  • Maximum loan-to-value: 60%
  • Available to: Remortgages
  • Incentives: Free valuation, free legal fees and £150 cashback
  • Flexible features: Allows overpayments
  • Lending area: Great Britain and Northern Ireland.

 

Nationwide Building Society – Two-year fixed rate mortgage, 80% loan-to-value

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

“Nationwide BS’s latest refresh has seen new launches and several rate reductions across existing deals this week. One deal seeing a cut is its two-year fixed mortgage at 80% loan-to-value for house purchase customers. Now priced at an attractive 4.53% for the next two years, this deal takes a competitive ranking within its sector. It carries a fair fee of £999, which borrowers have the option of adding to the advance. Borrowers also have the choice of making overpayments and underpayments, subject to approval and having previously made overpayments. This deal also offers an incentive package, which includes a free valuation. Overall, it earns an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 4.53% fixed rate for two years
  • Product fee: £999
  • Maximum loan-to-value: 80%
  • Available to: House purchase customers
  • Incentives: Free valuation
  • Flexible features: Allows overpayments. Underpayments considered subject to approval and overpayments having been made previously
  • Lending area: Great Britain and Northern Ireland (excluding Scilly Isles).

 

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.

 

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.
James Hyde Press & PR Manager
Rachel Springall Press Officer / Finance Expert
Caitlyn Eastell Apprentice Press & PR Assistant