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Save to buy Accounts

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Jvic28
Jvic28 Posts: 1,596 Forumite
in Mortgages & endowments
Hi,

Does anyone "in the know" know of some save to buy accounts I could have a look into. I'm not a first time buyer though. Are there any out there.

Thanks
DMP Mutual Support Thread Member No 190
17/05/08 - Total on DMP: £10025.70
07/05/14 - Total on DMP: £1666.20 DFD: July 2017!!
Baby Tomos born 5th June 2009 - 6lb 5oz :j
Weight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO
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Comments

  • ACG
    ACG Posts: 24,538 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The only one i know of is nationwide but thats for first time buyers.

    Just find as high a interest account you can and get saving. Theres no way around it.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Jvic28
    Jvic28 Posts: 1,596 Forumite
    It's just I heard lower deposits were required with their mortgages after saving with them so was interested. Oh well.
    DMP Mutual Support Thread Member No 190
    17/05/08 - Total on DMP: £10025.70
    07/05/14 - Total on DMP: £1666.20 DFD: July 2017!!
    Baby Tomos born 5th June 2009 - 6lb 5oz :j
    Weight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO
  • samtoby
    samtoby Posts: 2,438 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Nationwide have one. Minimum a £1 to open one and up to 5% deposits possible - if you meet their critera- I don't but using that to save my money there.
    3 Children - 2004 :heart2: 2014 :heart2: 2017 :heart2:
    Happily Married since 2016
  • samtoby
    samtoby Posts: 2,438 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    Oh and you have to have it open 6 months with money going in to apply for a mortgage through the scheme.
    3 Children - 2004 :heart2: 2014 :heart2: 2017 :heart2:
    Happily Married since 2016
  • Jvic28
    Jvic28 Posts: 1,596 Forumite
    No problems with that criteria other than the fact I'm not a first time buyer. Need to find something similar for non first time buyers.
    DMP Mutual Support Thread Member No 190
    17/05/08 - Total on DMP: £10025.70
    07/05/14 - Total on DMP: £1666.20 DFD: July 2017!!
    Baby Tomos born 5th June 2009 - 6lb 5oz :j
    Weight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO
  • LunaLady
    LunaLady Posts: 1,625 Forumite
    Nationwide's is for anyone who has not had a mortgage for 3 years before opening the account if that helps.
    SPC #1813
    Addicted to collecting Nectar Points!! :D
  • Jvic28
    Jvic28 Posts: 1,596 Forumite
    Not really, I have a mortgage now, but thanks anyway
    DMP Mutual Support Thread Member No 190
    17/05/08 - Total on DMP: £10025.70
    07/05/14 - Total on DMP: £1666.20 DFD: July 2017!!
    Baby Tomos born 5th June 2009 - 6lb 5oz :j
    Weight Loss Target - to lose 60.8lb by NYE 2015 - 37.6lb TO GO
  • samtoby
    samtoby Posts: 2,438 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    A save to buy account with Nationwide is exactly that - saving to buy your first home. That is what it is aimed at. Not someone already with a mortgage.
    3 Children - 2004 :heart2: 2014 :heart2: 2017 :heart2:
    Happily Married since 2016
  • samtr
    samtr Posts: 16 Forumite
    Apologies for taking someone else's post, but regarding this account, and dismissing the chance of a 5% Mortgage, is there much better outn there in terms of saving towards a mortgage.

    Im thinking 3 years minimum around £250-350 a month.
  • marathonic
    marathonic Posts: 1,786 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    samtr wrote: »
    Apologies for taking someone else's post, but regarding this account, and dismissing the chance of a 5% Mortgage, is there much better outn there in terms of saving towards a mortgage.

    Im thinking 3 years minimum around £250-350 a month.

    I suppose you could chance opening a Current Account with First Direct. This is assuming you can pay in a salary of at least £1500 per month.

    They're touted on this website as a Best Buy current account and you get £125 for opening one with them.

    Then you could open one of their Regular Savings accounts (which is also a best buy) and get 8% AER for saving up to £300 per month over 12 months.
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