Everyone needs support when saving for those big things in life such as buying your first property and at Yorkshire Bank we are here to help.
Your home may be repossessed if you do not keep up repayments on your mortgage
With our Regular Home Saver Account we will encourage you to save regular monthly amounts towards a deposit on your first home and we will guide you through the mortgage application process when the time comes for you to apply for your mortgage.
* or over 13 months if you have utilised the payment holiday option in any 12 month period.
A cash back benefit is available in connection with an approved Yorkshire Bank first time buyer mortgage, if you save the deposit with a Regular Home Saver Account.
The eligibility for this benefit depends on the amount you save.
Benefits may be added, varied or removed at any time. You will be notified of any variations to your account in the manner described in our account Terms and Conditions.
** Property Value is defined as the lower of the purchase price or mortgage valuation.
*** Loan To Value means the ratio of the amount you wish to borrow against the property value.
Withdrawals require 40 days’ notice. Withdrawals without 40 days’ notice are not permitted under any circumstances except in the event of the death of an Account Holder (or one of them if a joint account) or if the amount being withdrawn from the Account is to be used as all or part of a deposit to purchase a property with an approved Yorkshire Bank first time buyer mortgage.
Please print our Product Factsheet (PDF, opens in new window) for further information regarding the Regular Home Saver Account and the first time buyer linked benefits.
Giving just 40 days notice to withdraw means you don’t have to lock your money up for a long period to enjoy attractive interest rates.
|Term||Gross*||AER+ pa||Net** pa||Apply|
|Credit Balance||0.50%||0.50%||0.40%||In branch#|
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Rates are correct at 6th April 2011.
*Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (currently 20%).
+AER. Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
** Net Rate. Net Rate is the Gross Rate less income tax at the lower rate (currently 20%). Tax at this rate will be deducted from accounts subject to tax at the time interest is paid. Non-taxpayers may register for payment of interest gross. Tax paid may be reclaimed, where appropriate, from H M Revenue and Customs. Higher rate taxpayers may be liable to additional taxation according to their individual circumstances.
You can apply at your nearest Yorkshire Bank branch
|Account Name||Regular Home Saver|
|Interest Rates (AERs)||Refer to the Savings Account Tariff for personal customers, our website www.ybonline.co.uk or the notice displayed in Branch.|
|Tax Status||Interest will be paid net of basic rate tax unless you have registered for payment of gross interest as a non taxpayer, or are resident abroad and have signed a non-resident’s declaration.|
|Conditions for bonus payment||N/A|
|Withdrawal arrangements||Withdrawals require 40 days’ notice. Withdrawals without 40 days’ notice are not permitted under any circumstances except in the event of the death of an Account Holder (or one of them if a joint account) or if the amount being withdrawn from the account is to be used as all or part of a deposit to purchase a property with a Yorkshire Bank first time buyer mortgage.|