Home Saver

This product can be opened and managed in branch and by post and can be opened and viewed via Chorley Online. Please refer to the Society’s Savings Accounts General Terms and Conditions and Chorley Online Terms and Conditions.

To open this account, you will need to complete a Home Saver Application Form.

Eligibility Criteria

• Be aged 18 or over, and a UK resident.
• To open your account, you need to pay in between £100 and £500.
• Each month, you can pay in up to £500 in total. You can make as many payments as you like during the month, as long as together they add up to at least £100 and no more than £500. If you don’t pay in the full £500 in a month, you can’t make it up later.
• The maximum total subscriptions to the account is £30,000.
• Only one Regular Saver, one Seasonal Saver, Regional 2 Year Flexible Saver and one Home Saver can be held in any 12 month rolling period.
• Accounts can be held in joint names but only one account per member is permitted.

Home Saver Cashback

• £500 cashback will be paid on completion of a new residential purchase or remortgage with Chorley Building Society.
• To qualify for the cashback, the account holder must have applied for a mortgage with Chorley Building Society, within 6 months of the account maturity date. We will pay you the cashback as long as you apply for a mortgage within 6 months of the Home Saver Account Maturity date and the mortgage completes within 12 months.
• A maximum of one cashback per new mortgage application will be paid. If the mortgage application is in joint names and both borrowers hold a Home Saver Account, only one cashback will be paid. The cashback will be paid within one month of the mortgage completion date. The cashback will be paid to the first named mortgage applicant.
• If the account is held for less than 5 years, the cashback will only be paid providing the account has been open for a minimum of 12 months and the Home Saver Account balance is at least £5,000.
• We will not ask you to pay back any of the cashback paid, regardless of the duration for which the mortgage is held.
• Mortgage applicants applying directly with Chorley Building Society, and not through a third party, such as an intermediary, may qualify for one additional mortgage application incentive, that may be available at the time of their mortgage application.

Internal transfers from other Chorley Building Society accounts are not allowed.

This is a limited issue and the Society reserves the right to withdraw this product without notice at any time. 

• You can make 2 withdrawals per year. You can also close your account at any time within the 5 year fixed term period and this will not count as one of your two withdrawals.  If more than 2 withdrawals are made within a 12 month period, we will close your account.  Your closing balance plus interest will be paid to you by your chosen method, see below withdrawal options.
• Withdrawals can be made by cash, cheque or CHAPs* (*subject to a £25 fee). You can request a same day transfer to any of your eligible Chorley accounts in person, by post or, if registered, via Chorley Online. You can request a next day payment via Chorley Online to a nominated bank account, providing this is in your name. Cheques requested by post or online for withdrawals or closures will be issued within two working days of receipt and posted 1st class to the account holder.
• The account will mature 5 years from the date of the account opening. The account balance will then be available on the day of maturity, or the next working day. On maturity your balance, plus interest, will be automatically transferred into our Home Saver Maturity Account.
• We will contact you at least 14 days prior to the end of the 5 year term to advise you of the details of our Home Saver Maturity Account. This will be by email if we hold an up-to-date email address for you. If we don’t hold an up-to-date email address for you, we will notify you by post.
• Withdrawal conditions apply; please refer to section 9 of the Savings Account General Terms and Conditions and section 7 of the Chorley Online Terms and Conditions for further details. The terms of the Home Saver Maturity Account are available in branch or by post.

Internal transfers from other Chorley Building Society accounts are not allowed.

This is a limited issue and the Society reserves the right to withdraw this product without notice at any time. 

Whether you need to pay tax is dependent on your own personal circumstances and may be subject to change in the future. For more information on Tax Allowances please call HMRC on 0300 200 3300 or visit https://www.gov.uk/apply-tax-free-interest-on-savings

Changing your mind

Once you have opened an account, you have 14 days to let us know that you have changed your mind. The 14 days will start after the account is opened or, if later, after you first receive (on paper or electronically) a copy of Chorley Building Society's Savings Terms & Conditions and the Product Specific Features. If you let us know within this time that you no longer want the account, we will give you your money back (together with any interest it has earned) or help you switch to another one of our accounts which you are eligible for (if we have received cleared money). Should you change your mind about this account please send written notification of your cancellation to us at Head Office, Key House, Foxhole Road, Chorley, PR7 1NZ.

What to do if you’re not satisfied

If you are not satisfied with our services we operate an internal complaints procedure. A copy of this procedure is available online at www.chorleybs.co.uk or you can ask in any of our branches for details of this procedure. If you are not satisfied with our final response, you may be eligible to take your complaint to the Financial Ombudsman Service (FOS).