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

afmfifgh

As I understand it as you have said you should in theory arrange a mortgage advice meeting. You are however under no obligation to take a mortgage out with them. So to play it by the book you should go into your branch explain you want to close the account and as such need to arrange a meeting and state you have no intention to take out a mortgage.

They are you would assume going to say not to worry and we will just close the account. As such you have meet the terms laid out when opening the account.

atypical

I think I remember reading that Santander has now got rid of the requirement to have a mortgage interview. Perhaps in response to low uptake.

beefturnmail

I would keep it open if at all possible - it's a risk-free (or to more correct, 'extremely low-risk') 5% instant access which is (I believe) impossible to beat currently. Or does the account not allow partial withdrawals? I can't remember.

mr_fishbulb

atypical wrote: »

I think I remember reading that Santander has now got rid of the requirement to have a mortgage interview. Perhaps in response to low uptake.

Yup. They also sent out some paperwork to account holders saying they were removing the Mortgage Advisor meeting requirement.

Section 5 here - http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223416979355&cachecontrol=immediate&ssbinary=true&maxage=3600

bongoali

mr_fishbulb wrote: »

Yup. They also sent out some paperwork to account holders saying they were removing the Mortgage Advisor meeting requirement.

Section 5 here - http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223416979355&cachecontrol=immediate&ssbinary=true&maxage=3600

wow fishbulb where do you find all these links?!? Thanks

mr_fishbulb

bongoali wrote: »

wow fishbulb where do you find all these links?!? Thanks

I just remembered I was sent something by Santander so did a google search

user123123

I have held one of these accounts for a couple of years now, and I pay the £300 by monthly standing order. For some reason, my payment this month was returned immediately by Santander, even though I have not changed any of the standing order details. Is this likely to mean that my account has closed? I'm travelling at the moment, so I'm not sure whether I have received any mail from them about this.

Eponym

user123123 wrote: »

I have held one of these accounts for a couple of years now, and I pay the £300 by monthly standing order. For some reason, my payment this month was returned immediately by Santander, even though I have not changed any of the standing order details. Is this likely to mean that my account has closed? I'm travelling at the moment, so I'm not sure whether I have received any mail from them about this.

Sounds like a mistake to me. I haven't had any letters about them closing the account or anything.

user123123

user123123 wrote: »

I have held one of these accounts for a couple of years now, and I pay the £300 by monthly standing order. For some reason, my payment this month was returned immediately by Santander, even though I have not changed any of the standing order details. Is this likely to mean that my account has closed? I'm travelling at the moment, so I'm not sure whether I have received any mail from them about this.

All is well. Apparently Santander were unable to accept standing orders towards the end of last week.

pazza2000

I also had my SO rejected this month, inline with the above comments. Good thing I caught it as I would have hated to have missed out on 1 months interest.