Update! Santander First Home Saver Account: 5% on up to 50k savings (up to 35 only)

someone

Crashtogether wrote: »

can anybody give a straight yes or no answer as to whether if you deposit more than £300pcm then it is ONLY that month you get 0.1% and it then reverts back to 5%?

That is correct

ses6jwg

mcc100 wrote: »

T & C's state ........

Reward – Get a great rate for saving regularly towards a deposit for your first home and in return all we ask you to do is have a mortgage interview up to 90 days before you come to close the account.

Anyone had a mortgage interview before closing the account ?


You can apply if:

• You are aged between 16 to 35 years

Has anyone older than 35 tried opening an account?

If you are older than 35 and try to apply the option will not be availiable to the adviser under the "Savings" opening process, just as if you attempted to open a c/a the 11-15 account would not be in the list for selection.

In short, the answer is absolutely impossible, unless you lie about your age, which is fraud.

chimp_typing

Hi

I have just turned 35 and I was under the impression that the account had to stop. The person at the branch didn't know anything about the First Home Saver and had to phone 4 people in head office before they got an answer that it could continue.

Is this right? Is the age limit only to apply to open the account?

someone

chimp_typing wrote: »

Is this right? Is the age limit only to apply to open the account?

Think that correct

Baldur

jpmorgue wrote: »

So how much can you save per month does it have to be 300?

See http://www.santander.co.uk/csgs/Satellite?pagename=Abbeycom/GSPageDetail/WC_ACOM_PrintB&canal=CABBEYCOM&empr=Abbeycom&leng=en_GB&cid=1210611105365

... save between £100 and £300 per month by standing order to get the preferential rate. You will receive a lower rate of 0.10% gross/AER when you pay in under £100 or over £300 in any calendar month, but for that month only.

beefturnmail

Just to warn - already experiencing the famed Santander customer 'service' with this account. First they screw up the interest payments by incorrectly paying the lower rate for two months, which I only worked out by scrutinising the interest paid (it's only shown as one annual payment). When I told them about this over the phone at the beginning of March, they said all would be sorted and a corrected statement sent out. Heard nothing, so rang back yesterday and, guess what, absolutely diddly squat has been done to sort out the problem.... Customer services rep also said that the interst underpaid was only 50p (incorrect - more like £50) interest rate on the account had dropped to 1% on the 1 year anniversary (incorrect), and tried to get me to switch to their esaver, I asked to speak to someone else, transferred, placed on hold, then the phone went dead. Tried ringing complaints line - on hold for 30 minutes with no answer so gave up. Now sent an e-mail and letter to complaints....

saver2000

A couple of people mentioned (about a month ago) that they were about to get their yearly statements.

So, did you the correct amount of interest even with the massive overpayments?

thepearce

chimp_typing wrote: »

Hi

I have just turned 35 and I was under the impression that the account had to stop. The person at the branch didn't know anything about the First Home Saver and had to phone 4 people in head office before they got an answer that it could continue.

Is this right? Is the age limit only to apply to open the account?

Yep - you only have to meet the age criteria at the time of applying. I opened one a few months prior to turning 35.

Essex123

saver2000 wrote: »

A couple of people mentioned (about a month ago) that they were about to get their yearly statements.

So, did you the correct amount of interest even with the massive overpayments?

Yes - I can confirm that I did.

Theone1_2

Is 5% the best available these days?

I thought real inflation is about that?