Head Start Home Saver
Step 1 - Save
Saving for your deposit can be difficult, so we're giving you a wide range of savings accounts to choose from to save for your first home. This gives you great choice and the flexibility to save in the way that suits you.
- Save at least £150 each calendar month – you can choose to save in one or more of our savings accounts (except Halifax Christmas Saver). Just make sure that your savings balance across all your savings accounts (your net savings balance), increases by the end of each month by at least £150
- You can take money out of your savings - you can still make withdrawals, subject to the individual savings account conditions. But remember, your net savings balance must increase by at least £150 in each of the qualifying calendar months
| Here's an example... |
|---|
| If your savings balance at the start of the month is £2,000 and... |
| for that month you pay in £200... |
| and then you need to take out £100 for an emergency or a special treat... |
| this leaves you with £2,100 which is your net savings balance.... |
| so you'll need to pay in at least another £50 before the end of the month to achieve an increase in the net savings balance of £150 for that month |
- Save for 10 months out of the last 12 months before applying for your mortgage - this gives you two months when you don't have to save to qualify for your £600 reward. A little breathing space if you need it. If you need longer to build up your deposit that's fine. You have until 31st July 2013 to meet the savings criteria and apply for your mortgage, and still qualify for the £600 reward
- Transfer your savings - if you've already built up some savings elsewhere, but hadn't considered using this towards a deposit for your first home before, that's fine. Get in touch and we can help you to transfer your balance to one of our savings accounts. A simple first step towards getting a £600 reward.
Compare all our savings accounts or call 08457 26 36 46 to get you started with your savings (lines open Monday to Friday 8am-8pm, Saturday 8am-6pm and Sunday 9am-5pm).
View the Head Start Home Saver Terms and Conditions (pdf).
Step 2 - Mortgage
Once you've saved your deposit and have found a property you'd like to buy, it's time to choose a mortgage. We've been helping people buy their own home for 150 years, so you can be sure you'll be looked after every step of the way. All we ask is that you:
- Select a Head Start Home Saver mortgage - from our dedicated First Time Buyer range. Incentives may be available on other products that are not available to Head Start Home Saver customers
- Have a deposit of between 10% and 25% - so borrow between 75% to 90% of the property value or purchase price (whichever is the lowest)
- Apply in branch or by phone - we've professional mortgage specialists on hand to help you. Head Start Home Saver mortgages are not available online or through intermediaries
- Only one £600 offer per completed mortgage - even if your mortgage and/or savings accounts are in joint names
- The offer ends 31st July 2013 - you must meet the required savings criteria, apply and be eligible for a Head Start Home Saver mortgage from our dedicated first time buyer range by 31st July 2013.
Mortgage applications will be assessed in the normal manner and any eligibility for the Head Start Home Saver offer will be calculated at the point of mortgage application. Meeting the qualifying savings requirements does not necessarily mean we are able to make a mortgage offer. That will depend on our lending requirements at the time of the mortgage application being met. Terms and conditions apply.
Call 08457 27 37 47 once you are ready to talk about your mortgage options (lines open Monday to Friday 8am-8pm, Saturday 9am-4pm).
Step 3 - £600
We'll pay £600 into the current account your mortgage is paid from, within 31 days of your mortgage being completed. It's our way of saying thanks - a helping hand to tackle those first monthly bills. Or to help make your house a home. It's up to you.
Getting started
Compare all our savings accounts or call 08457 26 36 46 to get you started with your savings (lines open Monday to Friday 8am-8pm, Saturday 8am-6pm and Sunday 9am-5pm).
View our range of First Time Buyer mortgages or call 08457 27 37 47 once you are ready to talk about your mortgage options (lines open Monday to Friday 8am-8pm, Saturday 9am-4pm).
Register online to receive email updates on how you're doing with your savings, plus hints and tips to help making buying a home easier.
