Managing my Save to Buy Issue 3 account

On 27 January 2016 balances in Save to Buy Issues 1 and 2 accounts were moved to Save to Buy Issue 3. The product:

  • Has a maximum balance of £25,000*
  • Gives immediate access to your savings. You can make one withdrawal per account year** without your interest rate changing. You can make more withdrawals after this, but your rate will reduce from the date of the second withdrawal until the end of that account year**. Look up the current rate for this product.

* Please note, the interest rate on Issue 3 is variable. It's not a guaranteed rate or linked to the Bank of England base rate.

** One withdrawal per 'account year' means the 12 month period from the date the account was opened and each period of 12 months thereafter.

If your balance exceeded £25,000 before the migration to the new issue 3 product in January 2016, your entire balance will have been migrated. 

You will no longer be able to make deposits into your Save to Buy Issue 3, unless you take the balance below the account limit. You can make one withdrawal per account year without your interest rate changing. Further withdrawals are allowed, but your rate will reduce from the date of the second withdrawal until the end of that account year.

I'm ready to buy my home

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When you're ready to apply for a Save to Buy mortgage, simply visit your local Nationwide branch or call us on 0800 30 20 10. One of our Mortgage Consultants will take you through the application process and will recommend the best Save to Buy mortgage for your situation.

You can qualify for a cashback reward once you have met the Save to Buy criteria, and have completed a Save to Buy mortgage application.

You will receive your cashback one month after completing your Save to Buy mortgage with Nationwide, either via cheque or via bank transfer to the current account from which the mortgage payment is taken.

No, you can select a mortgage from the standard mortgage range, however some features may not be available, such as cashback. You may be eligible for other offers at that time.

More First Time Buyer options

You can hold both a Save to Buy Issue 3 account and a Help to Buy: ISA, subject to your ISA allowance and provided that you meet the eligibility criteria for a Help to Buy: ISA. Nationwide allows its customers to save money in more than one type of cash ISA product within the Nationwide ISA portfolio, which can be combined under a single Nationwide ISA wrapper, up to the current annual 2019/20 ISA limit of £20,000. This means that if you already hold an existing ISA product with Nationwide, you can also contribute up to £200 a month to the Nationwide Help to Buy: ISA, subject to annual ISA limits.

Yes. Save to Buy Issue 3 offers immediate access to your savings and provides one withdrawal per account year* without loss of interest and the flexibility to make more (subject to a lower interest rate). You could use this withdrawal to move money into a Help to Buy: ISA, subject to the Help to Buy: ISA deposit limits and annual ISA allowance, which for the 2019/20 tax year is £20,000. If you're a first-time buyer saving in a Help to Buy: ISA you could benefit from both the Government Bonus (if you meet the qualifying criteria) and our current Save to Buy cashback (if you meet the terms and conditions), when closing these accounts and applying for your Save to Buy mortgage.

*One withdrawal per ‘account year’ means the 12 month period from the date the account was opened and each period of 12 months thereafter.

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