Moneyfacts Pick of the Week - 30/03/2023

Rachel Springall, Press Officer

Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: 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

Family Building Society – Online Saver (5)

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

“Savers searching for a competitive rate on a flexible savings account may be pleased to see the latest account re-launch by Family Building Society. The Online Saver account pays 3.26% and may appeal to savers with a minimum of £100 to invest who want to make unlimited withdrawals. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 3.26% gross / 3.26% AER payable yearly
Notice / term: None
Minimum opening amount: £100
Maximum investment amount: £250,000
Access: Permitted, minimum withdrawal £100
Further additions: Permitted
Opening account: Online
Managing account: Online
Other information: Minimum applicant age 16. Joint account option available.

Shawbrook Bank – Easy Access Issue 34

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

“Shawbrook Bank has increased the rate on its Easy Access savings account this week, which may entice savers looking for flexibility. The deal now pays 3.26% and requires a minimum of £1,000 to be invested upfront. Unlimited withdrawals can be made, but savers will need to withdraw at least £500. Savers will also find a monthly interest option is available, which may appeal if they are looking to supplement their income. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 3.26% gross / 3.26% AER payable on anniversary / monthly interest rate option of rate 3.21% gross / 3.26% AER also available
Notice / term: None
Minimum opening amount: £1,000
Maximum investment amount: £85,000
Access: Permitted via nominated account. Minimum withdrawal amount £500
Further additions: Permitted via nominated account
Opening account: Online
Managing account: Online and by phone
Other information: Minimum applicant age 18. Joint account option available.

Allica Bank – 180-Day Notice Account (Issue 1)

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, may be pleased by the latest rate rise by Allica Bank this week. The 180 Day Notice account now pays 4.00% and may appeal to savers who have £10,000 to invest upfront. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.00% gross / 4.00% AER payable on anniversary
Notice / term: 180 days
Minimum opening amount: £10,000
Maximum investment amount: £250,000
Access: Permitted via a nominated account, subject to 180 days’ notice
Further additions: Permitted via nominated account, while the issue remains open
Opening account: Online
Managing account: Online and by phone
Other information: Minimum applicant age 18. Initial deposit must be received within 14 days from account opening or account will be closed.

OakNorth Bank – 12-Month Fixed Term Savings Account

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

“OakNorth Bank has increased rates on a selection of its Fixed Term Savings Accounts this week, which includes the 12-month fixed option that now pays 4.48%. The deal sits in a prominent position against other bonds that have a similar term and may entice savers who are happy to lock their cash away for the next year to earn a competitive rate. As is common with a fixed bond, no earlier access is permitted. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.48% gross / 4.48% AER payable on maturity
Notice / term: 12 months
Minimum opening amount: £1
Maximum investment amount: £500,000
Access: Not permitted
Further additions: Permitted for 14 days from account opening
Opening account: Online and mobile app
Managing account: Online and mobile app
Other information: Minimum applicant age 18. Joint account option available.

Virgin Money – 1 Year Fixed Rate Cash E-ISA Issue 560

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

“Virgin Money has increased the rates on its E-ISAs this week, including its one-year offer which takes a prominent position in the market. The deal now pays a rate of 4.11% 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. Savers will also find a monthly interest option is available, which may appeal if they are looking to supplement their income. On review, the account earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.11% gross / 4.11% AER payable yearly / monthly interest option of 4.03% gross / 4.11% AER also available
Notice / term: To 24.4.24
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted, subject to a 60-day loss of interest penalty
Further additions: Permitted for 30 days from account opening
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
Managing account: Online
Other information: Minimum applicant age 16

Mortgages

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

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

“Barclays Mortgage has reduced selected fixed rates in its range this week, including its two-year fixed offer at 60% loan-to-value. The deal is now priced at 4.10% 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, plus free legal fees or £350 cashback for those remortgaging. A £999 product fee is chargeable, but this can be added to the mortgage advance. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.10% fixed rate to 30.6.25
Product fee: £999
Maximum loan-to-value: 60%
Available to: All borrowers
Incentives: Free valuation and, for those remortgaging, free legal fees or £350 cashback
Flexible features: Allows overpayments.
Lending area: Great Britain and Northern Ireland.

Leeds Building Society – Two-year fixed rate mortgage, 65% loan-to-value

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

“This week, Leeds Building Society has reduced selected fixed rates in its range, including its two-year fixed mortgage at 65% loan-to-value. Now priced at 4.62%, this deal carries an attractive incentive package of free valuation and, for those remortgaging, help with costs. There is no product fee charged, so overall this offer could attract borrowers looking to save on the upfront cost of their mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.62% fixed rate to 30.6.25
Product fee: None
Maximum loan-to-value: 65%
Available to: All borrowers
Incentives: Free valuation and, for those remortgaging, help with costs
Flexible features: Allows overpayments
Lending area: England, Wales, mainland Scotland and Northern Ireland.

Savings

Family Building Society – Online Saver (5)

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

“Savers searching for a competitive rate on a flexible savings account may be pleased to see the latest account re-launch by Family Building Society. The Online Saver account pays 3.26% and may appeal to savers with a minimum of £100 to invest who want to make unlimited withdrawals. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 3.26% gross / 3.26% AER payable yearly
Notice / term: None
Minimum opening amount: £100
Maximum investment amount: £250,000
Access: Permitted, minimum withdrawal £100
Further additions: Permitted
Opening account: Online
Managing account: Online
Other information: Minimum applicant age 16. Joint account option available.

Shawbrook Bank – Easy Access Issue 34

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

“Shawbrook Bank has increased the rate on its Easy Access savings account this week, which may entice savers looking for flexibility. The deal now pays 3.26% and requires a minimum of £1,000 to be invested upfront. Unlimited withdrawals can be made, but savers will need to withdraw at least £500. Savers will also find a monthly interest option is available, which may appeal if they are looking to supplement their income. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 3.26% gross / 3.26% AER payable on anniversary / monthly interest rate option of rate 3.21% gross / 3.26% AER also available
Notice / term: None
Minimum opening amount: £1,000
Maximum investment amount: £85,000
Access: Permitted via nominated account. Minimum withdrawal amount £500
Further additions: Permitted via nominated account
Opening account: Online
Managing account: Online and by phone
Other information: Minimum applicant age 18. Joint account option available.

Allica Bank – 180-Day Notice Account (Issue 1)

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, may be pleased by the latest rate rise by Allica Bank this week. The 180 Day Notice account now pays 4.00% and may appeal to savers who have £10,000 to invest upfront. The deal secures a prominent position in our top tables and earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.00% gross / 4.00% AER payable on anniversary
Notice / term: 180 days
Minimum opening amount: £10,000
Maximum investment amount: £250,000
Access: Permitted via a nominated account, subject to 180 days’ notice
Further additions: Permitted via nominated account, while the issue remains open
Opening account: Online
Managing account: Online and by phone
Other information: Minimum applicant age 18. Initial deposit must be received within 14 days from account opening or account will be closed.

OakNorth Bank – 12-Month Fixed Term Savings Account

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

“OakNorth Bank has increased rates on a selection of its Fixed Term Savings Accounts this week, which includes the 12-month fixed option that now pays 4.48%. The deal sits in a prominent position against other bonds that have a similar term and may entice savers who are happy to lock their cash away for the next year to earn a competitive rate. As is common with a fixed bond, no earlier access is permitted. Overall, the deal earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.48% gross / 4.48% AER payable on maturity
Notice / term: 12 months
Minimum opening amount: £1
Maximum investment amount: £500,000
Access: Not permitted
Further additions: Permitted for 14 days from account opening
Opening account: Online and mobile app
Managing account: Online and mobile app
Other information: Minimum applicant age 18. Joint account option available.

Virgin Money – 1 Year Fixed Rate Cash E-ISA Issue 560

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

“Virgin Money has increased the rates on its E-ISAs this week, including its one-year offer which takes a prominent position in the market. The deal now pays a rate of 4.11% 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. Savers will also find a monthly interest option is available, which may appeal if they are looking to supplement their income. On review, the account earns an Excellent Moneyfacts product rating.”

Key product details:

Rate: 4.11% gross / 4.11% AER payable yearly / monthly interest option of 4.03% gross / 4.11% AER also available
Notice / term: To 24.4.24
Minimum opening amount: £1
Maximum investment amount: ISA allowance
Access: Permitted, subject to a 60-day loss of interest penalty
Further additions: Permitted for 30 days from account opening
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
Managing account: Online
Other information: Minimum applicant age 16

Mortgages

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

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

“Barclays Mortgage has reduced selected fixed rates in its range this week, including its two-year fixed offer at 60% loan-to-value. The deal is now priced at 4.10% 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, plus free legal fees or £350 cashback for those remortgaging. A £999 product fee is chargeable, but this can be added to the mortgage advance. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.10% fixed rate to 30.6.25
Product fee: £999
Maximum loan-to-value: 60%
Available to: All borrowers
Incentives: Free valuation and, for those remortgaging, free legal fees or £350 cashback
Flexible features: Allows overpayments.
Lending area: Great Britain and Northern Ireland.

Leeds Building Society – Two-year fixed rate mortgage, 65% loan-to-value

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

“This week, Leeds Building Society has reduced selected fixed rates in its range, including its two-year fixed mortgage at 65% loan-to-value. Now priced at 4.62%, this deal carries an attractive incentive package of free valuation and, for those remortgaging, help with costs. There is no product fee charged, so overall this offer could attract borrowers looking to save on the upfront cost of their mortgage. Overall, this product earns an Outstanding Moneyfacts product rating.”

Key product details:

Rate: 4.62% fixed rate to 30.6.25
Product fee: None
Maximum loan-to-value: 65%
Available to: All borrowers
Incentives: Free valuation and, for those remortgaging, help with costs
Flexible features: Allows overpayments
Lending area: England, Wales, mainland Scotland 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

T: 01603 476210

E: Email Rachel

Caitlyn Eastell Apprentice Press & PR Assistant

T: 01603 476169

E: Email Caitlyn

©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.