| First Home Saver |    |
Want a place of your own?
Save your deposit in no time with a First home saver account. It offers a great interest rate and a flexible way to get a deposit together – you can save as much or as little as you like, when you like.
This account can only be opened at one of our branches. Click here for a list of our branches.
| Summary Box | |
| Key product information for our Savings Account | |
| Account Name | First Home Saver |
| Interest rates (AER's) | Interest rates are variable. Our current rates of interest are shown below or can be found in our ‘Interest Rate Summary’ leaflet. Alternatively, you can call our 24 hour rateline on 0845 795 9666 |
| Tax status | Interest will be paid net of tax unless you have registered to receive it gross |
| Conditions for bonus payment | Not applicable |
| Withdrawal arrangements | Instant Access. Access on closure only until you start buying a house when they are permitted for purchases relating to buying your home |
| Access | Branch only |
All the advice you need
Our experts are on hand to offer advice at every stage from how to save your deposit and planning a budget to finding a mortgage and moving in.
Who’s eligible?
To open an account, you must be over the age of 16 and have never had a mortgage before. You will need to bring along proof of your identity when you open an account.
Paying money in
You can open an account with just £10. The account can be in a single name or in joint names. You can pay in as much as you like, whenever you like, up to a maximum of £15,000. But remember – the bigger the deposit, the less you will have to borrow.
Taking money out
To help you resist dipping into your savings, withdrawals are restricted to emergencies only until you are ready to buy your new home. When you take out a mortgage, your account will be closed.
Your interest
We will pay your interest straight into your account on 1 January each year and send you an interest statement that month telling you your balance and how much interest you have earned. You can also get up to date balances by contacting your local branch.
£250 Cashback*
Once you have saved your deposit, if you take out a mortgage through The Nottingham or Nottingham Mortgage Services (our mortgage broking subsidiary, which offers mortgage products from a range of lenders), you’ll get £250 cashback, as long as your account has been open for at least 6 months.
*Terms and conditions apply, just ask in one of our branches.
Current interest rates from 01 April 2009
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.