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

stripeytrousers

I started this account whilst looking for a house and have recently have my offer accepted :j - i want to keep this account open and keep paying in as its got a good interest rate. Do i need to let Santander know that im not saving for a house anymore? Will i need to submit proof when i do finally close the account that i dont have a house?

Thanks,

beefturnmail

stripeytrousers wrote: »

Do i need to let Santander know that im not saving for a house anymore? Will i need to submit proof when i do finally close the account that i dont have a house?

Thanks,

The answer to both questions is 'no' - there is nothing in the t &c to say you must do either. In any case the only way you could 'prove' you do not own a house, is by providing proof that someone else owns every single house in the world....

pazza2000

How exactly does the withdrawel process work?

afmfifgh

Just to let people know that the account is still paying 5% as of 01/02/2012.

Page 10 of 13 about half way down, Rates correct as of 1st February 2012:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223419687301&cachecontrol=immediate&ssbinary=true&maxage=3600

If someone could just double check that I am seeing this correctly as I am surprised that now the account has been withdrawn for some time the rate has not been reduced at all.

Eponym

afmfifgh wrote: »

Just to let people know that the account is still paying 5% as of 01/02/2012.

Page 10 of 13 about half way down, Rates correct as of 1st February 2012:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223419687301&cachecontrol=immediate&ssbinary=true&maxage=3600

If someone could just double check that I am seeing this correctly as I am surprised that now the account has been withdrawn for some time the rate has not been reduced at all.

I'm not sure. There are several different types of FHS shown. Am I being dense? I can't tell which one I have. I've had it since May 2011.

First HomeSaver Special Issue 1
£100+ 5.00% 4.00%
Rates effective from 1 February 2009. A reduced rate of 0.10% gross p.a./AER will be paid on the full account balance for the month in which less than £100 or more than
£300 is paid into the account.


First HomeSaver Special Issue 1 previous rates
£100+ 5.50% 4.40%
Rates effective from 1 January 2009 to 31 January 2009. A reduced rate of 0.10% gross p.a./AER will be paid on the full account balance for the month in which less than
£100 or more than £300 is paid into the account.


First HomeSaver
£1+, one withdrawal per year or £100 is not credited in a month 0.56% 0.45%
£1+, no withdrawals per year and £100 credited to account per month 0.60% 0.48%
Rates effective from 2 April 2009. A reduced rate of 0.10% gross p.a./AER will be paid on the full account balance for the month in which a withdrawal is made.


First HomeSaver previous rates
£1+, one withdrawal per year or £100 is not credited in a month 1.02% 0.82%
£1+, no withdrawals per year and £100 credited to account per month 1.10% 0.88%
Rates effective from 1 March 2009 until 1 April 2009. A reduced rate of 0.10% gross p.a./AER will be paid on the full account balance for the month in which a withdrawal

donkingkong

afmfifgh wrote: »

Just to let people know that the account is still paying 5% as of 01/02/2012.

Page 10 of 13 about half way down, Rates correct as of 1st February 2012:

http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223419687301&cachecontrol=immediate&ssbinary=true&maxage=3600

If someone could just double check that I am seeing this correctly as I am surprised that now the account has been withdrawn for some time the rate has not been reduced at all.

Long may it continue!

londoner01

Long may it continue indeed!

Eponym, your contract will probably say you have a FHS Special Issue 1, and since you have opened it after 2009, it is still the current rate with the usual clauses - the first that you posted above.

Eponym

londoner01 wrote: »

Long may it continue indeed!

Eponym, your contract will probably say you have a FHS Special Issue 1, and since you have opened it after 2009, it is still the current rate with the usual clauses - the first that you posted above.

Thanks Londoner. Just read it again, and yes, I was being dense!

londoner01

Eponym wrote: »

Thanks Londoner. Just read it again, and yes, I was being dense!

It's not the most beautifully laid out and engaging reading, you're allowed to miss stuff

quichelorraine

We've just had an offer accepted on a flat and so I need to close my account. Does anyone know how I am supposed to do this? I know when I signed up you agree to a mortgage advice session when you close, but if Santander think I'm taking a mortgage out with them after the awful costomer service I've had from them they have another thing coming. I've been biding my time and collecting interest from them but they aren't getting a penny out of me for a mortgage!

Sorry, rant over. So yeah, if I want to close my account how do I do this? On the phone? In branch? Write a letter?