Regular Savings Accounts: The Best Currently Available List!

Band7

Money_Grabber13579 said:

Band7 said:

alibean121 said:

crumpet_man said:

surreysaver said:

crumpet_man said:

Coventry First Home Saver now withdrawn for new applications.

Could be because it attracted some attention on Reddit.

Wonder if they'll demand proof people are saving for a first home for existing account holders?

How can anyone prove they are saving to buy a property?  

No but they’d have had a lot more luck restricting the account if they at least added something to their terms and conditions about the account actually being for first time buyers. 

You obviously can’t prove what someone is saving for but if they’d asked if you’re a homeowner on the application form, I personally wouldn’t have lied. 

Are you suggesting that anyone lied on the application form? If so, what makes you think so?

Are you suggesting that alibean121 suggested that anyone lied on the application form? If so, what makes you think so?

The key parts of the post you quoted are “if they’d asked” and “I personally wouldn’t have lied.” In essence, they didn’t ask so no one can have lied.

There is no reason at all why anyone would start talking about lying on application forms.

alibean121

Band7 said:

Are you suggesting that anyone lied on the application form? If so, what makes you think so?

No accusations here. Just Coventry building society being naive. I think they could have avoided a lot of these issues if they had just asked applicants a direct question about their homeowner status.

masonic

alibean121 said:

You obviously can’t prove what someone is saving for but if they’d asked if you’re a homeowner on the application form, I personally wouldn’t have lied. 

The key information explicitly stated that you could hold the account in order to save towards someone else's first home. The account was not only targeted at FTB, but also their family members. Anyone could have answered that question honestly and not been screened out.

silvercar

I did wonder if it would have been cheeky to open the Coventry account on the genuine grounds of saving for a deposit for my son to buy his first home, and fund it from my Coventry mortgage offset savings account. Difference in interest rates would be +0.75. Too late now.

flaneurs_lobster

It gets worse, having opened a First Home Saver (I'm not) got email:

Why not join our member panel? Your thoughts could help us and other members on the journey to buying their first home.

subjecttocontract

I got that email as well.....but just ignored it.
In spite of all the criticism of Coventy.....at least it was dead easy to open and fund the account. Which is more than can be said for a number of other providers whose antiquated systems and the postal strike look like assigning some of my attempts to open an account to the rubbish bin. 

Imvrasos

I applied for this Coventry FHS account on Sunday but have not received any confirmation email so far, is that the case for everyone?

subjecttocontract

If it helps.......I opened mine online on 15/12, made first payment in on 17/12 and received an email from them on 19/12.
Have you tried logging into your account on the Coventry site ?

Bridlington1

Buckinghamshire BS regular saver to rise to 3.3% from 1st February 2023.

https://www.bucksbs.co.uk/bank-of-england-base-rate-increase.html

Imvrasos

subjecttocontract said:

If it helps.......I opened mine online on 15/12, made first payment in on 17/12 and received an email from them on 19/12.
Have you tried logging into your account on the Coventry site ?

I am not a Coventry customer, their website advised a paper form would be sent through the post for the application to be completed. My concern is I haven't received any email receipt or application reference and I only have a generic screenshot. Will just wait and see how things develop!