Savings Accounts

HomeSaver Account

If you are aged between 18 and 40 years, whether you are a first time buyer, saving your deposit or looking to move on our Homesaver account is for you!

With a great rate payable on your account and the added benefit of a bonus equal to 2% gross (1.6% net) of your account balance when you take out a direct Furness Mortgage....

....it's a great deal more!

  • Minimum investment of £1 in our branch and agency operating area.
  • Minimum investment of £500 outside our branch and agency operating area.
  • 2% gross (1.6% net) bonus paid on the average balance in the account over the 12 months prior to closure. The bonus is payable only when taking out a direct mortgage with Furness Building Society.
  • The account must be open for a minimum of 12 months before a bonus payment can be applied.
  • Interest paid annually on 31st December and will be added to the account. The interest rate is variable.
  • You can add to the account at anytime.
  • When you take a direct mortgage with Furness Building Society NO notice will be required to close the account.
  • The Homesaver account is a share account with Furness Building Society.

The account holder agrees to be bound by the rules of the Society (copies available upon request) and the terms and conditions stated on this website.

If you choose to make a withdrawal before taking a direct Furness Building Society mortgage or close the account deciding not to take a direct Furness Building Society mortgage option then 120 days notice will be required. Providing such notice is given, withdrawals can be made without loss of interest.

Notice may be given only in respect of cleared funds held in the account on the date notice is given.

If 120 days notice has not been given, withdrawals will be subject to a penalty amounting to 120 days interest. This will be calculated using the gross rate of interest payable on the account on 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will be applied against the remaining capital balance in the account with any remainder being deducted from the amount withdrawn.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the notice will be deemed to end on the last working day before the weekend or Bank Holiday, and the amount to be withdrawn will therefore be available from that date.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 specified amounts unless closure is requested. Notice may only be given to withdraw cleared funds not subject to an existing notice of withdrawal (i.e. notices may not run concurrently against the same funds).

Charitable Assignment Scheme

All new savers opening share accounts must sign a declaration agreeing to assign any future windfall rights to the Charities Aid Foundation. For more information please telephone us on 0800 834312.

To view the Key Product Information Summary Box, please click here