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Save to buy Accounts

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  • harvey115
    harvey115 Posts: 691 Forumite
    marathonic wrote: »
    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.

    If you open a First Direct Current Account together with a Savings account (not regular savings account). You do not have to pay the monthly charges and/or you do not have to make salary payments in that account either. However to get the cash back for opening a current account you need to pay your salary or £1500 a month together with moving a couple of your standing orders or direct debits as well.
  • Gentoo365
    Gentoo365 Posts: 579 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Also if you have a FD account and a FD savings account for few years then you have more chance of getting approved if your application is 'borderline'. As they can see your behavioural score.
  • Jvic28
    Jvic28 Posts: 1,596 Forumite
    The terms with nationwide were paying in a min £50 a month, and obviously the 5% deposit was appealing. Not for me though as I'm not a 1st time buyer. Was just trying to find some help as I have no equity in my property so obviously a low deposit is desirable. I'm not disappointed though, I'm aware I'm pretty much stuck here for a good 5/10 years until the situation sorts itself out.
    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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