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  • FIRST POST
    • tori.k
    • By tori.k 14th Jun 17, 9:04 AM
    • 2,785Posts
    • 6,135Thanks
    tori.k
    Shifting bank accounts
    • #1
    • 14th Jun 17, 9:04 AM
    Shifting bank accounts 14th Jun 17 at 9:04 AM
    Sorry if this is in the wrong place.
    A quick question husband want to shift bank accounts to first direct from HSBC, can he still keep his joint account with me at HSBC and just move his personal to get the switch offer and savings rate it will he have to break all ties with HSBC? We will be looking at getting a mortgage at the back end of the year and has held the HSBC account in good order for 10+ year's which I gather helps.
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 24000
Page 1
    • badger09
    • By badger09 14th Jun 17, 10:44 AM
    • 5,112 Posts
    • 4,325 Thanks
    badger09
    • #2
    • 14th Jun 17, 10:44 AM
    • #2
    • 14th Jun 17, 10:44 AM
    Sorry if this is in the wrong place.
    A quick question husband want to shift bank accounts to first direct from HSBC, can he still keep his joint account with me at HSBC and just move his personal to get the switch offer and savings rate it will he have to break all ties with HSBC? We will be looking at getting a mortgage at the back end of the year and has held the HSBC account in good order for 10+ year's which I gather helps.
    Originally posted by tori.k
    Yes, he can do that.

    The only account which will be switched is the one he nominates.

    Having a long held, well run bank account, will indeed be seen in a positive light by potential mortgage lenders.

    As you mentioned a mortgage, if either or both of you are first time buyers, are you using Help to Buy or LISA?
    • tori.k
    • By tori.k 14th Jun 17, 12:33 PM
    • 2,785 Posts
    • 6,135 Thanks
    tori.k
    • #3
    • 14th Jun 17, 12:33 PM
    • #3
    • 14th Jun 17, 12:33 PM
    He is a first time buyer, but we are coming to the party late to old to take advantage of the help to buy/Lisa, so looking to max out high interest savings options to hold savings & the deposit.
    • eskbanker
    • By eskbanker 14th Jun 17, 12:47 PM
    • 5,281 Posts
    • 5,033 Thanks
    eskbanker
    • #4
    • 14th Jun 17, 12:47 PM
    • #4
    • 14th Jun 17, 12:47 PM
    He is a first time buyer, but we are coming to the party late to old to take advantage of the help to buy/Lisa, so looking to max out high interest savings options to hold savings & the deposit.
    Originally posted by tori.k
    There's no such thing as too old for a HTB ISA - the LISA has an upper age limit of 39 but HTB is open to anyone from 16.
    • tori.k
    • By tori.k 14th Jun 17, 1:38 PM
    • 2,785 Posts
    • 6,135 Thanks
    tori.k
    • #5
    • 14th Jun 17, 1:38 PM
    • #5
    • 14th Jun 17, 1:38 PM
    I thought you had to be under 40 for a help to buy? Both my lads have help to buy but was wondering if it would be better to shift them over to Lisa, both are saving but not seriously.
    Just checked he can many thanks esbanker you just made us a few quid
    Last edited by tori.k; 14-06-2017 at 1:43 PM.
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 24000
    • EdGasketTheSecond
    • By EdGasketTheSecond 14th Jun 17, 1:43 PM
    • 190 Posts
    • 99 Thanks
    EdGasketTheSecond
    • #6
    • 14th Jun 17, 1:43 PM
    • #6
    • 14th Jun 17, 1:43 PM
    First Direct is HSBC; just a different marketing brand.

    See the footer "first direct is a division of HSBC Bank plc"

    https://www.newsroom.firstdirect.com/press/release/first_direct_turns_21_-_21_fac
    • tori.k
    • By tori.k 14th Jun 17, 1:46 PM
    • 2,785 Posts
    • 6,135 Thanks
    tori.k
    • #7
    • 14th Jun 17, 1:46 PM
    • #7
    • 14th Jun 17, 1:46 PM
    I know they are a sister bank but as far as I'm aware he can still get the incentives if he switched.
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 24000
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