Moneyfacts Pick of the Week - 25/11/2021

Image of Moneyfacts.co.uk 'Pick of the Week' Logo Image of Moneyfacts.co.uk 'Pick of the Week' Logo Image of Moneyfacts.co.uk 'Pick of the Week' Logo
Eleanor Williams, Press Officer
Eleanor Williams, Press Officer / Finance Expert T: 01603 476205 E: Email Eleanor
25/11/2021

Moneyfacts Pick of the Week

The Moneyfacts.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 Moneyfacts.co.uk.

This week, our resident Finance Expert, Eleanor Williams, has analysed the following deals, along with their perks, of note:

Moneyfacts Pick of the Week

The Moneyfacts.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 Moneyfacts.co.uk.

This week, our resident Finance Expert, Eleanor Williams, has analysed the following deals, along with their perks, of note:

Savings

Investec Bank plc – Fixed Rate Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Investec Bank plc has increased the rate paid on its 1 Year Fixed Rate Saver by 0.03% this week. Now paying 1.36% on maturity, this account takes a place within our top rate table when compared to other bonds with similar terms which are currently available. This account can be opened and managed online and could be tempting to savers happy to secure their savings pot away for the one-year term. As may be expected in the fixed bond sector, early access is not permitted, however, some investors may view the ability to make further additions for seven days from account opening as a plus. Overall, this bond secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.36% gross / 1.36% AER payable on maturity 
  • Notice / term: One year
  • 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.

Chorley Building Society – Easy Access Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Savers who like to maintain some flexible access to their nest egg may be pleased to note that Chorley Building Society has launched a new Easy Access Saver this week. Paying a rate of 0.60% yearly for those who make up to six withdrawals per annum, this account takes a place in our top ten when compared to other no notice accounts currently available. Savers should note that while further additions are permitted, if more than six withdrawals are made, the rate paid will reduce, so careful planning may be advised.”

Key product details:

  • Rate: 0.60% gross / 0.60% AER payable yearly if up to six withdrawals are made per annum, rate reduces to 0.10% gross / 0.10% AER for the remainder of the year if seven or more withdrawals are made
  • Notice / term: Instant
  • Minimum opening amount: £500
  • Maximum investment amount: £500,000
  • Access: Permitted (up to six withdrawals per annum, after which rate will reduce)
  • Further additions: Permitted while issue remains open
  • Opening account: Online, by post and in branch
  • Managing account: Online, by post and in branch
  • Other information: Minimum applicant age 18.

 

Mortgages

Accord Mortgages – Two-year fixed rate mortgage, 85% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Accord Mortgages has made amendments to various product rates within its residential mortgage range this week, which included applying a small increase of 0.04% on its two-year fixed rate at 85% loan-to-value. Available via selected intermediaries to all types of borrower, it is now priced at 1.90% until 31 March 2024, and the fee of £995 and generous incentive package of £1,000 cashback and a free valuation associated with this deal are unchanged. Already an attractive option when considered as a package, this product also continues to provide borrowers with flexible features, so despite the small rise in rate this week, this deal maintains its position in our top table for Flexible products and earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.90% fixed rate until 31.3.24
  • Product fee: £995
  • Maximum loan-to-value: 85%
  • Available to: All borrower types
  • Incentives: Free valuation and £1,000 cashback
  • Flexible features: Allows overpayments. Underpayments and payment holidays considered (with notice required), not to exceed level of overpayments made.
  • Lending area: Great Britain and Northern Ireland.

Stafford Railway Building Society – Two-year discounted-variable rate mortgage, 75% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“This week Stafford Railway Building Society has introduced a new discounted variable rate which is available at 75% loan-to-value. Available to both those purchasing and those remortgaging, this deal could be of interest to borrowers who are comfortable with a variable rate mortgage as the initial rate is the lowest currently on offer within this sector of the market. There is a £1,000 fee which has to be paid upfront, and despite the fact that there are no further incentives available, when considered overall this deal secures a position in the top rate table on rate alone and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 0.85% discounted variable rate (collared at 0.85%) for two years
  • Product fee: £1,000
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: None
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

 

Buy-to-Let Mortgages

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

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Landlords considering a five-year fixed rate deal may wish to note that among the products to receive a rate reduction in NatWest’s latest update is the 75% loan-to-value option for those who are purchasing. Taking a cut of 0.10%, this option is now priced at 1.76% until 28 February 2027 and the incentive of a free valuation has also been added to the deal. Already holding a position in our top tables, these improvements have further boosted the appeal of this product and secure an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.76% fixed rate until 28.2.27
  • 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

Investec Bank plc – Fixed Rate Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Investec Bank plc has increased the rate paid on its 1 Year Fixed Rate Saver by 0.03% this week. Now paying 1.36% on maturity, this account takes a place within our top rate table when compared to other bonds with similar terms which are currently available. This account can be opened and managed online and could be tempting to savers happy to secure their savings pot away for the one-year term. As may be expected in the fixed bond sector, early access is not permitted, however, some investors may view the ability to make further additions for seven days from account opening as a plus. Overall, this bond secures an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.36% gross / 1.36% AER payable on maturity 
  • Notice / term: One year
  • 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.

Chorley Building Society – Easy Access Saver

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Savers who like to maintain some flexible access to their nest egg may be pleased to note that Chorley Building Society has launched a new Easy Access Saver this week. Paying a rate of 0.60% yearly for those who make up to six withdrawals per annum, this account takes a place in our top ten when compared to other no notice accounts currently available. Savers should note that while further additions are permitted, if more than six withdrawals are made, the rate paid will reduce, so careful planning may be advised.”

Key product details:

  • Rate: 0.60% gross / 0.60% AER payable yearly if up to six withdrawals are made per annum, rate reduces to 0.10% gross / 0.10% AER for the remainder of the year if seven or more withdrawals are made
  • Notice / term: Instant
  • Minimum opening amount: £500
  • Maximum investment amount: £500,000
  • Access: Permitted (up to six withdrawals per annum, after which rate will reduce)
  • Further additions: Permitted while issue remains open
  • Opening account: Online, by post and in branch
  • Managing account: Online, by post and in branch
  • Other information: Minimum applicant age 18.

 

Mortgages

Accord Mortgages – Two-year fixed rate mortgage, 85% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Accord Mortgages has made amendments to various product rates within its residential mortgage range this week, which included applying a small increase of 0.04% on its two-year fixed rate at 85% loan-to-value. Available via selected intermediaries to all types of borrower, it is now priced at 1.90% until 31 March 2024, and the fee of £995 and generous incentive package of £1,000 cashback and a free valuation associated with this deal are unchanged. Already an attractive option when considered as a package, this product also continues to provide borrowers with flexible features, so despite the small rise in rate this week, this deal maintains its position in our top table for Flexible products and earns an Excellent Moneyfacts product rating.”

Key product details:

  • Rate: 1.90% fixed rate until 31.3.24
  • Product fee: £995
  • Maximum loan-to-value: 85%
  • Available to: All borrower types
  • Incentives: Free valuation and £1,000 cashback
  • Flexible features: Allows overpayments. Underpayments and payment holidays considered (with notice required), not to exceed level of overpayments made.
  • Lending area: Great Britain and Northern Ireland.

Stafford Railway Building Society – Two-year discounted-variable rate mortgage, 75% loan-to-value

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“This week Stafford Railway Building Society has introduced a new discounted variable rate which is available at 75% loan-to-value. Available to both those purchasing and those remortgaging, this deal could be of interest to borrowers who are comfortable with a variable rate mortgage as the initial rate is the lowest currently on offer within this sector of the market. There is a £1,000 fee which has to be paid upfront, and despite the fact that there are no further incentives available, when considered overall this deal secures a position in the top rate table on rate alone and an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 0.85% discounted variable rate (collared at 0.85%) for two years
  • Product fee: £1,000
  • Maximum loan-to-value: 75%
  • Available to: All borrower types
  • Incentives: None
  • Flexible features: Allows overpayments
  • Lending area: England and Wales.

 

Buy-to-Let Mortgages

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

Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:

“Landlords considering a five-year fixed rate deal may wish to note that among the products to receive a rate reduction in NatWest’s latest update is the 75% loan-to-value option for those who are purchasing. Taking a cut of 0.10%, this option is now priced at 1.76% until 28 February 2027 and the incentive of a free valuation has also been added to the deal. Already holding a position in our top tables, these improvements have further boosted the appeal of this product and secure an Outstanding Moneyfacts product rating.”

Key product details:

  • Rate: 1.76% fixed rate until 28.2.27
  • 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 30 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.

Moneyfacts.co.uk is a financial product price comparison site, launched in 2000, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfacts.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 Moneyfacts.co.uk if you decide to source this information.

For more information about us please see our key facts.

 

Notes to editors

Pioneering financial comparison technology for over 30 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.

Moneyfacts.co.uk is a financial product price comparison site, launched in 2000, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfacts.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 Moneyfacts.co.uk if you decide to source this information.

For more information about us please see our key facts.

 

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.
Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert