Moneyfacts pick of the week

Last updated: 8 May 2025 at 09:15

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market, ranging from mortgages to savings accounts. This week I've analysed the following deals, along with their perks.

West Brom Building Society has increased the rates on its Four Access Saver when up to four withdrawals are made per year. The account takes a competitive position when compared against its peers and pays an attractive 4.65% gross/AER yearly.

The account can be opened with as little as £1, but savers should keep in mind that if they make five or more withdrawals the rate drops significantly to 2.15% gross/AER yearly. Savers will find there is a monthly interest option available which may be suitable for those looking to boost their income. Overall, the deal earns an Excellent Moneyfacts product rating.

This week, Oxbury Bank has launched a new range of Personal Bond Accounts. The two-year option takes a competitive position in the market when compared against its peers, paying 4.40% on its anniversary. Savers with at least £1,000 to deposit may find this an enticing deal as they can receive guaranteed returns for the next two years.

Savers should be aware that earlier access is not permitted but further additions are permitted for 14 days via a nominated account. They should also be mindful that the initial deposit is funded within 14 days of the account opening, otherwise it will automatically close. Overall, the deal earns an Excellent Moneyfacts product rating.

This week, Hinckley & Rugby Building Society has launched a new range of Fixed Rate Cash ISAs and Fixed Rate Bonds. The 5 Year Fixed Rate Cash ISA has fared best. The account pays a competitive 4.11% yearly and may be a suitable option for savers looking to take advantage of their tax-free savings in the long-term and receive a guaranteed return.

Although earlier access is permitted, savers should be cautious over making any withdrawals as they will be subject to a 365-day loss of interest penalty. It is also important savers are happy with their initial investment as further additions are not permitted. In more positive news, this account does allow transfers in from other Cash ISAs, but this must be completed within 21 days of the account opening. On assessment, the deal earns an Excellent Moneyfacts product rating.

This week, Halifax has made reductions of up to 0.18% across many of its fixed rate mortgages. One deal to see this cut is the two-year fixed deal for remortgage customers with 40% equity. The deal is now priced at 3.87% until 31 August 2027, becoming the leading rate within the remortgage sector.

There is a reasonable £999 product fee which can be added to the advance, and this is also offset by its enticing incentive package which includes a free valuation and free legal fees, for qualifying Green’ properties they could also receive £250 cashback. On assessment, this deal receives an Outstanding Moneyfacts product rating.

Alongside extending end dates, Principality Building Society has reduced most of its fixed rate offerings by up to 0.30%. Seeing a slightly smaller 0.17% cut to 4.58% is the three-year fixed rate mortgage at 80% loan-to-value. The deal is now equal to the market-leader within its sector and adding to its appeal there is no payable fee, which may make this an ideal option for borrowers looking to save on upfront costs.

Adding to its appeal, the deal has an attractive incentive package which includes a free valuation for all borrowers, but remortgage customers will also receive free legal fees. Overall, this deal earns an Outstanding Moneyfacts product rating.

In its latest update, TSB has reduced selected two-year fixed rates within its residential range by up to 0.20% this week. Its 90% loan-to-value offering for second-time buyers has seen a smaller 0.10% cut and is now priced at 4.84%.

This deal may be an attractive option for borrowers looking to keep costs low as it does not have any product fees, and it also comes with a lucrative incentive package which includes a free valuation and £500 cashback. Adding to its appeal, borrowers can make overpayments and take payment holidays after one year and subject to approval. Overall, the deal earns an Outstanding Moneyfacts product rating.

The latest update from Barclaycard sees an increase to the introductory 0% balance transfer term to 33 months on its Platinum 32 Month Balance Transfer Visa Card, which is now the Platinum 33 Month Balance Transfer Visa Card. The introductory fee has also increased to 3.45%. Despite this, the card takes the market-leading position for its sector and is one of the best options available for customers looking to transfer debt for a longer period.

Working in the deal’s favour, the card also offers 0% on purchases for three months, which may help borrowers with any unexpected costs. However, it is worth noting that transfers must be made within the first 60 days. Furthermore, borrowers can expect to receive a range of lifestyle perks, including exclusive presale tickets on selected festivals with 10% off ticket prices and up to 15% cashback from selected retailers with Barclaycard Cashback Rewards. On assessment, the card earns an Outstanding Moneyfacts product rating.