We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Savings Accounts for a Mortgage

Options
HI all MSE users, ive just posted in the Credit files section about improving my credit report in the build up to me applying for a Mortgage and a user notified me of the following
Thrugelmir wrote: »
If obtaining a mortgage is your objective. Then both Halifax and Nationwide offer saving schemes for FTB's. The benefit being that saving with them is the brownie points you earn, and the demonstration that you can manage your money well. Regular saving requires the same discpline as paying a mortgage for 300 months.

Would it be possible that any of you know of any similar accounts that have incentives for saving for a mortgage. Such as cashback from a purchase etc... or do you believe a normal savings account will be better?

I will only be having the account for roughly a year as Im only wanting to spend around 10,000 on a deposit
Save 12k in 2015 number 218: £5440/£17000 -

House deposit savings: £13,440/£16,5000

Car Finance: £12,900/£17,000 (£284 a month)

Comments

  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Newcastle Big Home Saver has potential incentives but bad interest rate

    newcastle. co .uk / savings / big-home-saver. aspx

    If you can get any of the interest paying current accounts, they are the best place for £10,000 for 1 year.
  • wpearson92
    wpearson92 Posts: 46 Forumite
    I currently have a Club Lloyds account and a Santander 1-2-3 account. They offer decent rates, but It appeals to me the cash back incentive from then applying for a mortgage through them as that offers a decent amount of cash back
    Save 12k in 2015 number 218: £5440/£17000 -

    House deposit savings: £13,440/£16,5000

    Car Finance: £12,900/£17,000 (£284 a month)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.