HomeSaver (Issue 2) Account

To open an account simply call into your local Furness branch or agency with your initial investment and identification.  You can also access the application form by clicking "Apply now" on this webpage.  Identification requirements can be found on this website, by asking at your local branch or agency or by contacting the investment team on 0800 834312.  If you are already a Furness customer, in most cases this will not be necessary.

Minimum investment of £1 in our branch and agency operating area or a minimum investment of £500 outside of our branch and agency operating area.

You can add to your account at any time.

Interest is paid annual on 31 December and will be added to the account.

You can find out about our interest rates on this website, by asking at your local branch or agency or by calling us on 0800 834312.

A 2% Gross/AER (1.6% net) bonus is paid on the average balance held in the account in the 12 months prior to closure.  The bonus is payable when you take out a mortgage directly from the Furness.  The account must be open for a minimum of 12 months before a bonus can be paid.

If you choose to make a withdrawal or close your account before taking out a mortgage directly with the Furness then 120 days notice will be required.  Providing such notice is given, withdrawals can be made without loss of interest.

If 120 notice has not been given, withdrawals will be subject to a penalty amounting to 120 days interest on the amount withdrawn.

This will be calculated using the gross rate of interest payable on the account the day the withdrawal is made.  The penalty will be charged against accrued interest.  If the penalty is higher than the accrued interest, it will be applied against the remaining capital balance in the account with any remainder being deducted from the amount withdrawn.  If the notice period ends on a weekend or Bank Holiday, the notice will be deemed to end on the last working day before the weekend or Bank Holiday, and the amount to be withdrawn will therefore be available from that date.  Notice withdrawals must be for specific amounts unless closure is requested.  Notice may only be given to withdraw cleared funds not subject to existing notice of withdrawal (ie. notices may not run concurrently against the same funds).

When you take out a mortgage directly with the Furness no notice will be required to close the account.