Coventry First Home Regular Saver 'maturing'

ab56

I have had this account for almost 3 years and its 'maturing' mid December 2025.  Received email from Coventry advising me of this and saying details of presumably options had been sent by letter.  Have not received this letter yet to which they refer to despite being sent out 20th November.  Anyone else received the 'options' letter and can they share what the options are please?

happybagger

interesting post. I have one maturing next week (First Home Saver) and got the email, but not the letter.

Yet I have received a letter about a different account that matures two weeks later.

My working assumption is that it will mature into their EA Saver at 2.2% as that's what the later account does. I'll simply wait until it converted and withdraw.

They do not seem to be competing for fund retention at the moment.

flaneurs_lobster

ab56 said:

I have had this account for almost 3 years and its 'maturing' mid December 2025.  Received email from Coventry advising me of this and saying details of presumably options had been sent by letter.  Have not received this letter yet to which they refer to despite being sent out 20th November.  Anyone else received the 'options' letter and can they share what the options are please?

Ditto, although this account has been well-used over the last three years, it's down to a quid since it ceased to be competitive. Not too bothered what the maturity options are (unless there's a 8% regular saver on offer).

Kim_13

flaneurs_lobster said:

ab56 said:

I have had this account for almost 3 years and its 'maturing' mid December 2025.  Received email from Coventry advising me of this and saying details of presumably options had been sent by letter.  Have not received this letter yet to which they refer to despite being sent out 20th November.  Anyone else received the 'options' letter and can they share what the options are please?

Ditto, although this account has been well-used over the last three years, it's down to a quid since it ceased to be competitive. Not too bothered what the maturity options are (unless there's a 8% regular saver on offer).

Hope not, I had a clear out and closed mine today.

mebu60

Not received the letter either. Annoying that there's nothing online as I'm out of the country when it matures, not back until the new year. I shall ring them next week if needs be to (hopefully) arrange for the maturity proceeds to go into my Four Access Saver at 4.3% (currently). Worst case it will presumably drop into the EA at 2.2% until I can shift it out.

Given the recent hike in FSCS to £120k I will let the dust settle on any base rate reduction from BoE meeting on 18:12 and have a rebalancing exercise early in 2026. I've done a couple of tweaks this week and will do so again next week when Kent's EA plummets to 4.0%. 

happybagger

Well with cahoot at 4.40% and giving 60 days notice minimum of reductions (over 90 days last time) that would be a good place to default

sheffieldeagle

Hi

Was there any penalty for closing before maturity just out of interest? Too lazy to check just at the moment.

Cheers 

Kim_13

sheffieldeagle said:

Hi

Was there any penalty for closing before maturity just out of interest? Too lazy to check just at the moment.

Cheers 

No, as my account was Issue 1 which was the one that didn't require any notice. 

Issue 2 should be held until maturity for that reason.

Newly_retired

I received the e-mail this morning. No letter yet.

sheffieldeagle

Kim_13 said:

sheffieldeagle said:

Hi

Was there any penalty for closing before maturity just out of interest? Too lazy to check just at the moment.

Cheers 

No, as my account was Issue 1 which was the one that didn't require any notice. 

Issue 2 should be held until maturity for that reason.

Many thanks.

mebu60

Still not received the letter that 'you'll have received in the post' according to the email dated 1 December.

Rang. The letter was sent (or at least is dated!) 20 November!!

Apparently it just sets out the default maturity option of proceeds into a First Home Easy Access Account at 2.2%.

I have given instructions for my FHS maturity to be paid into my Four Access Saver instead, currently 4.3%. 

I gave feedback to be 'passed on' that this maturity really ought to be an online process available by logging into your account.  

I predict the letter will now arrive in our next delivery! Whenever that may be. We get about two a week these days, the last one was Thursday last week