Union Home Saver

0.50%

Benefits to you

This account is exclusively for members of the National Education Union saving for the purpose of purchasing a home
Only one home saver account per person is permitted
The Union Home Saver account offers £600 cashback if you take out a mortgage with Teachers Building Society (*terms and conditions apply)
Competitive interest rate of 0.50% gross/AER
Low minimum investment of £100
Add money to your account at any time up to a total maximum investment of £25,000 (£50,000 if a joint account).
Unlimited withdrawals subject to 35 days' notice (immediate withdrawals are permitted if the funds are to be used towards a mortgage with Teachers Building Society)

SUMMARY BOX

ACCOUNT NAME

Union Home Saver

WHAT IS THE INTEREST RATE?

Gross/AER: 0.50%

CAN TEACHERS BUILDING SOCIETY CHANGE THE INTEREST RATE?

The interest rate for this account is variable, meaning that it can be changed at any time in accordance with section 6.4, 6.5 and 6.6 of the applicable terms and conditions. You will be informed in writing if the Society changes the interest rate applicable to your account.

WHAT WOULD THE ESTIMATED BALANCE BE AFTER 12 MONTHS BASED ON A £1,000 DEPOSIT?

The estimated balance after 12 months based on a £1,000 deposit would be £1,005.00. This amount is based on the assumption that all terms and conditions for the account are met.

HOW DO I OPEN AND MANAGE MY ACCOUNT?

This account can be opened and managed online or by post. The minimum opening balance for this account is £100 and the total maximum investment for this account is £25,000 (£50,000 if a joint account).

CAN I WITHDRAW MY MONEY?

Withdrawals may be made with no loss of interest following 35 days' written notice by post or online. Immediate withdrawals or closures are only permitted if the funds are to be used towards a mortgage with Teachers Building Society. The Society will then transfer the money to your nominated account by the Faster Payments Service.

ADDITIONAL INFORMATION

Available to National Education Union members
£600 cashback following completion of a Teachers Building Society mortgage (*terms and conditions apply)
Daily interest
Interest paid annually on 31st December
Only one home saver account per person is permitted
This product may be withdrawn at any time and without notice

APPLY ONLINE REQUEST APPLICATION PACK

*Union Home Saver Cashback Terms & Conditions

The £600 cashback is payable following completion of a Teachers Building Society mortgage (£500 cashback with the Union Home Saver and an additional £100 cashback based on NEU membership at the time of completion). Teachers Building Society cannot guarantee that Union Home Saver account holders will be eligible for a mortgage. Each mortgage application is assessed individually and must meet our lending criteria at the time of application. The Union Home Saver account must have a minimum balance of £1,000 at the time of mortgage completion and must have held this minimum balance for a period of at least 6 months. The mortgage application cannot be submitted via a mortgage intermediary. The £500 cashback with the Union Home Saver will be sent directly to your nominated bank account upon completion of the mortgage. The additional £100 cashback based on NEU membership will be sent to your solicitor with the mortgage funds.

The security of your personal data is our priority, and our Privacy Notice explains how we use and store your information. Please click here to read our Privacy Notice prior to submitting an application form.

You must also be sure that you have read and understood how the account works and that it will suit your requirements. All terms and conditions can be found on our Savings Terms and Conditions page.

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