Britannia launches new savings account for first time buyers

21-Nov-2006

Britannia Building Society has announced the launch of a new account for first time buyers looking to save for a deposit.

The HomeSaver account is available to first time buyers looking to take a Britannia mortgage and is available with an interest rate of 6.55 per cent AER/Gross on balances that exceed £250.

Britannia's new account is also available to customers looking to move property or remortgage their existing home.

"First time buyers who are already in a regular savings habit will find it easier when they have the commitment of paying mortgage subscriptions each month," said Tim Franklin, managing director of member business for Britannia.

"The HomeSaver account not only pays a great interest rate for savers, but also offers great incentives for borrowers," he added.

As an additional incentive, Britannia is offering all account holders a £250 cashback bonus if they complete a mortgage application by December 31st 2007.

Britannia Building Society offers a range of mortgages for first time buyers and repeat purchases, including fixed-rate and variable rate options.

Click here for further information on finding a deposit.

Aspiring first time buyers worried about how their debts will affect their borrowing power should contact a good broker.

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