Home Saver Account
Helping you save for your first home!
Buying a home is one of the most important decisions you will ever make. Here at the Holmesdale, we want to make it easier for first-time buyers to get a foot on the property ladder. That's why we've put together our Home Saver account, specially designed to build a deposit towards your first home.
- Accounts can be opened with a minimum deposit of just £10 (max. £50,000)
- Minimum age 18
- Excellent variable interest rate on the entire balance
- Interest calculated daily and paid annually on 31st March
- Make as many withdrawals as you like
- We PAY your property valuation fee up to a maximum of £250*
- An additional 0.25% discount off any discounted mortgage product for the term of the discount period*
- Handy passbook to keep track of how your money grows
- Apply in branch or by post
*The purchaser must be a genuine first-time buyer and have held a balance of at least £1,000 for the last three years in either a Holmesdale Home Saver account and/or Young Saver account. Subject to availability of discount mortgage products.
Hints & Tips for First-Time Buyers
- Save as much as possible towards the deposit.
- Analyse which features are vital and which are merely preferable when choosing a property.
- Be realistic when calculating how much you can afford to spend - remember, interest rates may vary during the mortgage period.
- Include the cost of possible repairs, furniture and furnishings, as well as fees such as conveyancing and stamp duty.
- Take an experienced home-buyer with you on viewings.
- Remember to budget for expenses such as council tax, gas and electricity bills and boiler servicing.
- Check out the council tax charge.
- Consider the re-sale value e.g. property in the catchment area of good local schools may have a higher purchase price but be easier to sell on later.
- Think about any impact on your car insurance premiums.
- Check out local public transport services.
- Explore local facilities such as shops, restaurants, pubs, sports centres, parks and cinemas.
- Find out whether broadband or other high-speed Internet, satellite and cable facilities are available, if required.
- If possible, choose a home close to your main place of work, as commuting can be one of your biggest household expenses.