Regular Savings Accounts: The Best Currently Available List!

schiff

This is from Moneyfacts today:
 "Home Buying Coach Regular Saver Issue 2 pays 1.75% gross yearly on a £1 opening minimum deposit. This account is only available to first-time buyers that are users of the Virgin Money Home Buying Coach app"
A different slant from what we've assumed; perhaps Moneyfacts is not into taking chances. 

schiff

trickydicky14 said:

So leave the 'savings welcome pack box' un-ticked?
And make the cheque out to myself as I don't have an account number?

I ticked the box on the basis that I had read everything about the account on the website which I'm sure shows everything that's to be found in the welcome pack. It's clearly stated 'a cheque payable to yourself', which is the usual procedure.

surreysaver

schiff said:

This is from Moneyfacts today:
 "Home Buying Coach Regular Saver Issue 2 pays 1.75% gross yearly on a £1 opening minimum deposit. This account is only available to first-time buyers that are users of the Virgin Money Home Buying Coach app"
A different slant from what we've assumed; perhaps Moneyfacts is not into taking chances. 

Nowhere in the product terms does it mention anything about being a first time buyer 

London7766551

Virgin seem to be making up these requirements as they go along. None of them which they can enforce easily. 

Gers

London7766551 said:

Virgin seem to be making up these requirements as they go along. None of them which they can enforce easily. 

https://uk.virginmoney.com/mortgages/home-buying-coach/

https://uk.virginmoney.com/savings/pdf/Home_Buying_Coach_Regular_Saver_Issue_2-key_product_info.pdf

Nothing in there about having to be a first time buyer.

margaretx9

surreysaver said:

schiff said:

This is from Moneyfacts today:
 "Home Buying Coach Regular Saver Issue 2 pays 1.75% gross yearly on a £1 opening minimum deposit. This account is only available to first-time buyers that are users of the Virgin Money Home Buying Coach app"
A different slant from what we've assumed; perhaps Moneyfacts is not into taking chances. 

Nowhere in the product terms does it mention anything about being a first time buyer 

You merely just have to be a user of the home coach buying app - which is aimed at providing information to first time buyers and people who haven't perhaps bought a home for a while so need to understand the process. 

But you don't have to be an FTB to open the account - VM couldn't really enforce that anyway.

London7766551

Gers said:

London7766551 said:

Virgin seem to be making up these requirements as they go along. None of them which they can enforce easily. 

https://uk.virginmoney.com/mortgages/home-buying-coach/

https://uk.virginmoney.com/savings/pdf/Home_Buying_Coach_Regular_Saver_Issue_2-key_product_info.pdf

Nothing in there about having to be a first time buyer.

Where did money facts get the first time buyer bit? I suspect Virgin told them this unless money facts are mistaken.

Speculator

Looks like Tipton have launched a Mobile App today so savers can view their accounts online.
https://www.thetipton.co.uk/news/the-first-building-society-to-launch-a-new-savings-distribution-channel-through-our-mobile-app/

Fingerbobs

London7766551 said:

Gers said:

London7766551 said:

Virgin seem to be making up these requirements as they go along. None of them which they can enforce easily. 

https://uk.virginmoney.com/mortgages/home-buying-coach/

https://uk.virginmoney.com/savings/pdf/Home_Buying_Coach_Regular_Saver_Issue_2-key_product_info.pdf

Nothing in there about having to be a first time buyer.

Where did money facts get the first time buyer bit? I suspect Virgin told them this unless money facts are mistaken.

My guess is that they made it up. Virgin may have told them the product is aimed at first-time buyers, which is a different thing. 

London7766551

margaretx9 said:

surreysaver said:

schiff said:

This is from Moneyfacts today:
 "Home Buying Coach Regular Saver Issue 2 pays 1.75% gross yearly on a £1 opening minimum deposit. This account is only available to first-time buyers that are users of the Virgin Money Home Buying Coach app"
A different slant from what we've assumed; perhaps Moneyfacts is not into taking chances. 

Nowhere in the product terms does it mention anything about being a first time buyer 

You merely just have to be a user of the home coach buying app - which is aimed at providing information to first time buyers and people who haven't perhaps bought a home for a while so need to understand the process. 

But you don't have to be an FTB to open the account - VM couldn't really enforce that anyway.

You don't even need the app to open the account, the account application page is just on a web link. Anyone can access this link. If you want to play it safe as the rules state you must use the app to open the account, you can register on the app but the accounts are not linked it seems. I kept the app until the account was fully opened, now it will go.