First Home Saver terms and conditions

1. First Home Saver Accounts are available only to individuals aged 16 years or over, and mortgages are available only to individuals aged 18 years or over.
2. Joint accounts are permitted provided that one of you takes out a mortgage with us.
3. When you open your account, you must deposit at least £100 into the account.
4. After you open your account, the balance may fall below £100 but it must not exceed £1 million.
5. Interest will be paid into your First Home Saver Account or another account held by you at your branch.
6. You may not have your wage or salary paid directly into your account.
7. Standing Order and Direct Debit payments are not permitted on your account.
8. Arranged overdrafts are not available on your account.
9. Cheque books are not available on your account.
10. You will be entitled to cashback on your account, provided that you meet all of the following requirements:
1. you have not previously held a mortgage, or if your account is in joint names, neither one of you has previously held a mortgage; and
2. your account has been open for at least 6 months prior to the mortgage being drawn down; and
3. you maintain a balance, of at least the amount required to qualify for the cashback at any given tier, for a minimum of six months. If, after that six month period, you need to withdraw money as part of the house buying process then you will still be entitled to your cashback, so long as the mortgage is drawn down within 60 days of the withdrawal being made.
4. at least one payment of a minimum of £50 a month is made into your account by Standing Order; and
5. you (or, if you apply for the mortgage jointly, each of you making the mortgage application) meet our standard mortgage criteria for the mortgage you apply for; and
6. you draw down one of our mortgages (excluding Buy to Let mortgages); and
7. your account remains open for 4 months following the draw down of the mortgage.
11. Only one cashback per mortgage application will be allowed. Only one cashback can be claimed per person. Where your account or mortgage is in joint names, only one cashback will be paid.
12. Cashback will not be paid automatically.You must claim it within three months of the mortgage being drawn down.
13. To claim cashback you must contact us on 0800 148 8325. We will then advise you if you qualify for cashback. If you qualify, we will pay the cashback into your account within 30 days.
14. If cashback is payable:
1. it will only be paid into your First Home Saver Account; and
2. it will be calculated using the lowest balance in your account in the 6 months prior to the mortgage being drawn down, subject to a maximum balance as detailed in our leaflet Savings Account Rates. When calculating the lowest balance we will not take into account any withdrawals that you make in the 60 days prior to the draw down of the mortgage which are made as part of the house buying process. We may ask you to vouch the purpose of each withdrawal.
15. We may withdraw the cashback offer, provided that we notify you personally six months beforehand.

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