This account is especially for those who wish to have a home soon and that too for the first time. If you are planning to buy a home for the first time, then this account helps you to deposit money for it. If you have never had a mortgage and save regularly with us, then you even stand a chance of getting a cashback.
You can receive up to £ 5,000 cashback if you satisfy a few criteria. Firstly, you or your joint account partner must never have held a mortgage. Secondly, you should open an account with £100 and set up a monthly Standing Order of at least £50. Then you need to keep the account open for at least 6 months, then qualify and take out a NatWest mortgage and lastly, you need to claim cashback within 3 months of the mortgage being drawn down.
What Are The Benefits?
The natwest first home saver is indeed very beneficial. A home is one of the prime needs of any person in life. It is very obvious that anyone buying home for the first time shall look for certain benefits and advantages. Being a novice, he is not expected to have much knowledge in this field.
So for them, Natwest first home saver is the best account. You get a flat rate of interest. This means that the interest rate stays absolutely constant. The interest rate does not vary at all, irrespective of the fact how much you save. The interest is calculated on a daily basis. You are paid annually nevertheless. In addition to that the interest rates are variable.
£5,000 cashback is based on savings of £50,000 and is based on the lowest savings balance in the 6 months before the mortgage is drawn down.
How To Apply?
You can apply online for this account.
I never thought I could save up enough to own a house. Due to first home saver, today I have booked one for me. In a year I shall own one too!
It had been a year since I was married and not owning a house bothered me! But natwest helped me to achieve it and today I am a proud owner of a home!
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