Regular Saver Thread **New and Restarted**

david78

If the money is credited in May then that is when the account will be opened according to the T&Cs. You should still get a full 12 months and can made 12 payments. But the account will start May and end in May next year (rather than April-April).

quirkydeptless

My Monouthshire cheque, posted on the 20th, was cashed Today (26th), along with my passbook and documentation dropping through the letter box just now!

So considering the Bank holidays, that was 3 working days :T

solartom

theloughborough.co.uk
Not sure if this warrants including into 1st page home buyer accounts
but 3% .£ 500 pcm, 6000 pa and £24000 total sounds good
branch and post only
https://www.theloughborough.co.uk/savings/all/save-to-buy-1

20SmthngSver

Stompa wrote: »

Personally I don't see the point (unless you have no online access), particularly for a 1 year regular saver like this, where (once registered) you'll be able to view the account online.

That's why I prefer Passbooks :j I don't need or want online access for every account, especially for infrequently used accounts. Too many IDs, passwords, passcodes, memorable data, memorable words :mad:

greenglide

. Too many IDs, passwords, passcodes, memorable data, memorable words

That is what password safes are for. Put all this data in one with a truly secure password. Job done (provided you back it up, along with other data in your PC!).

johnmoney05

solartom wrote: »

theloughborough.co.uk
Not sure if this warrants including into 1st page home buyer accounts
but 3% .£ 500 pcm, 6000 pa and £24000 total sounds good
branch and post only
https://www.theloughborough.co.uk/savings/all/save-to-buy-1

I have checked on their website. I can't find any penality if the savings is not used for house purchase.



It just looks like other ordinary regular saving account?

castle96

Just rang them. All OK to use as a savings a/c 4 yrs @ £500pm 3% var. Opening one now !

Fingerbobs

johnmoney05 wrote: »

I have checked on their website. I can't find any penality if the savings is not used for house purchase.



It just looks like other ordinary regular saving account?

There are restrictions on withdrawals, and if you want to close the account you have to go to their head office in Loughborough.
Looks good though!

schiff

quirkydeptless wrote: »

My Monouthshire cheque, posted on the 20th, was cashed Today (26th), along with my passbook and documentation dropping through the letter box just now!

So considering the Bank holidays, that was 3 working days :T

Yes, they are full of surprises! I posted my cheque on Wednesday, two days ago, earliest they could get it was yesterday and the cheque is showing in my bank account today!

They are a funny mixture, a bit clunky in some aspects but I don't think I've ever had anything this quick before.

karlie88

Hmmm not sure what to do about Loughborough BS re: Save to Buy. On paper, it is very good. But...

...for postal applications, you need to send certified copies of ID documents. My local solicitor charges £10 per document or the Post Office do it for £10.50. So that's about £20 I need to spend before even opening the account.

The 3% is variable and it increased from 1.5% last month. They have the right to decrease the rate with 14 days' notice. With this being a small BS, I can see them having a sudden influx of applications and potentially lowering the rate very quickly.

I phoned them up earlier this morning re: account closure and spoke to a very helpful man. Whilst the terms say the closure transaction must be completed at Head Office, that merely means sending the passbook with a covering letter.

I was reminded that the account is not designed to be used as a standalone saver but that there is nothing stopping me.

I'm out with this one. The upfront cost along with the variable rate are enough reasons for me.

Good luck to those who go for it, get your applications in quickly before they inevitably amend the terms.