Nationwide Regular Saver ISA

jimjames

beefturnmail wrote: »

Trying to understand what they mean by 'first time buyer and homemovers - t & c state:

"First time buyer is someone who has not has a mortgage in the last three years preceding the opening of the account. A home mover is someone who is moving home and have been party to a mortgage in the last three years"

So basically they mean everyone apart from people who haven't been paying a mortgage for at least 3 years? - As I'm not sure how they can check that someone is 'moving home' as anyone could say they are, even if they have no intention of doing so?

Yes and someone could be planning to move and have their plans change. I can't see any enforcement of this other than them checking that a mortgage has existed for 3 years.

veryintrigued

I've not studied the T&Cs (and have no wish to as I do not want this product) but the extract above makes it sound as though people who have paid off mortgages > 3 years ago are eligible as a First Time Buyer!

beefturnmail

Yes I agree, so then everyone is eligible???

As either you have been party to a mortgage in the last 3 years in which case you are a 'home mover' or you have not, in which case you are a 'first-time buyer'

bristolleedsfan

veryintrigued wrote: »

I've not studied the T&Cs (and have no wish to as I do not want this product) but the extract above makes it sound as though people who have paid off mortgages > 3 years ago are eligible as a First Time Buyer!

Yes that is correct and also includes anyone who has sold/sells his/her house that was owned outright for more than .....and has chosen to rent instead of re-purchase a property