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

donkingkong

Long may it continue!

CPS91

Is there any other savings accounts like these for first house savers? Bit gutted I only found out about this until now.

Cheers
Chris

rabh

Has anyony ever exceeded the £50k limit on this? The latest savings document link (http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223425606205&cachecontrol=immediate&ssbinary=true&maxage=3600) just says £100+, doesn't make mention of a limit.

Moneygrabber24

Just to let you guys know that the 5% has worked well throughout the year. Just got my interest of £1609 (after tax) paid into my account today. I had around 41000 in there since last September adding £150 a month .

......its still 5%, so I'm gonna keep it in there for another year!

All the best to you all.. ....gud luck.. ...its a fantastic savings account in this economic climate especially since you can put a large sum of money in there and get 5% on all of it.

The_Fat_el_Hombre

Great account this. Not sure what I've got in there now as they only issue quarterly statements, think it's about 15k ish but my interest is due to be paid in the next couple of weeks.

Thanks to those for checking the interest rate

Wings_of_Ambition

The_Fat_el_Hombre wrote: »

Not sure what I've got in there now as they only issue quarterly statements, think it's about 15k ish

I usually just ask for my balance whenever I pop into the branch. Not useful if you live miles away, but if you happen to have one near, it's an easy way to keep track of things.

The_Fat_el_Hombre

Wings_of_Ambition wrote: »

I usually just ask for my balance whenever I pop into the branch. Not useful if you live miles away, but if you happen to have one near, it's an easy way to keep track of things.

I keep the statements mate just don't check them often. Don't ever pop into the branch either as this is my only dealings with them and it's a waste of time.

I don't mind my account quietly building up

gt94sss2

The_Fat_el_Hombre wrote: »

Great account this. Not sure what I've got in there now as they only issue quarterly statements, think it's about 15k ish but my interest is due to be paid in the next couple of weeks.

They will also tell you the balance if you call them.

Also, a couple of questions:

1. Has anyone paid a lump sum into the account recently? (since the 'checking interest letter?)

2. Does anyone have a formula showing how long it would take you to 'recover' your lost interest on your current balance if you paid in a lump sum?

Regards
Sunil

afmfifgh

Just got my quarterly statement the other day and on it it says:

"Your current interest rate is 5.00% annual gross (variable) or 0.00% annual gross (variable)"

It still says underneath that that if you pay under £100 in or over £300 it pays 0.1% for that month.

In the past the statements have said 0.1% rather than 0.00%. Is this just a typo? Seems that way to me but just wondered if anyone knows any different.

Can't help with the other questions but I am half tempted to pay in a lump sum in the penultimate month before my interest is paid which would take the balance over the £50k "limit" and see how it goes for the last month before my interest is paid. Anyone else given this a go?

londoner01

Have been paid interest on this account recently, it turned out as ca £200 with £5,000 starting balance, then £300 every month, except some hiccups in the beginning when I made a mistake in setting up the standing order.

But this month I have had an unusual problem. My payment which has been going out by standing order with no problem whatsoever was bounced this month! "Unknown sort code or account number" at the payee end. Although I have spoken to Santander and it is correct. I wonder what it might be!

They'll give me a call tomorrow so I'll keep you posted, but I'm curious if anyone else is having this issue!

By the way, this is the first time I deal with Santander's phone customer service, and I must say there has been absolutely nothing to complain about so far.