Western Digital My Passport 1Tb Red (Recertified) £27.99 inc pp @WesternDigital.com

And less likely to fail.

Its a fair question as these regularly appear on HUKD at around this price. But the price seems to vary with stock levels for each colour/memory size combo. The Elements 1tb is a couple of quid cheaper than when it was last listed here. Sadly I couldn't find any working codes but TCB seemed to track for 6%.
To be fair, its hard to find a major branded drive for less than this atm, albeit these are refurbished. But, since its direct from WD at least the warranty should be sound. (edited)

Yes it does seem expensive, I have a 500GB HDD I'm looking to replace that's actually errored under load a few times, but then passes a sequential badblocks scan.

I use it for downloading then decrypting log and backup files, which can result in many 10's of GB of download then decrypt just to extract a few files each time. Somehow I'm loathed to hammer an SSD for that purpose, but they're getting sooo cheap, this doesn't cut it as a cheap replacement.

Are people voting this hot mistaking this for a new drive

As often debated when these offers are posted, most of these drives are in fact new i.e. unused. They're mostly recertified from the supply chain, surplus stock, customer returns etc.

Must have gone OOS. Were there yesterday. Listing modified