The Homebuyers Bonus Account can be used alongside our Help to Buy: ISA account if you are a First Time Buyer. This account is for individuals looking to build up a deposit for their first home or saving to move house. After saving for your home for a minimum of six months, and providing you choose and are eligible to complete your mortgage, direct applications only, with Penrith Building Society, we will pay a bonus of 1% on your final savings balance when the account is closed. Please note this account is not available to re-mortgage customers.
In addition to this, if your Penrith Building Society mortgage application is accepted, you may be entitled to a free *Application Fee and Product Fee providing your Homebuyers Bonus Account has been open for a minimum of six months.
Accounts are limited to one per person, available to individuals over the age of 16 living in the UK, saving for a house purchase. This applies to direct mortgage application only.
You can open your account with as little as £1 and you can save a maximum of £20,000 in the account
You have instant access to your savings
* The standard application fee is £100 and the Product Fee will vary depending on the product recommended but is a minimum of £175