HOMEBUILDER

Saving for your dream home? The Vernon's Homebuilder account is a regular monthly savings account specially designed to help you do just that, and more!

As well as a competitive rate of interest the Homebuilder account offers: 

• A personal Mortgage Guarantee Certificate - confirming the amount we should be able to lend you, based on your current circumstances, to enable you to look for a home with certainty*
• A cash bonus just when you need it most - when you move in

 *All mortgage applications will be subject to a property valuation and the Society's normal status checks.

Account name	Homebuilder
Interest rates (AERs)	Gross Net AER £10+ 1.50% 1.20% 1.50% The interest rate is variable. It is calculated on a daily basis and is added to your account annually on the 31st March. Alternatively your interest may be paid to your bank or transferred to another Vernon account.
Tax status	Interest is normally paid net after deduction of income tax or gross, subject to an individual certifying their eligibility using the HMRC form R85. If you are unsure of your eligibility to receive gross interest you can visit the HMRC website to find out more and to obtain the form R85.
Conditions for bonus payment	When you complete your Vernon mortgage, we will give you an amount equivalent to 10% of the capital balance in your account (excluding any interest credited) at the date of your mortgage application. The maximum qualifying capital balance is £10,000. The bonus will be in addition to any other benefits provided by the Vernon mortgage scheme selected and will be paid by cheque. In the case of a joint mortgage application, only one bonus will be allowed. You can make one withdrawal per year without affecting your bonus.
Withdrawal arrangements	One withdrawal a year may be made without notice and without penalty. If you wish to make further withdrawals your Homebuilder account will transfer to an Instant Access account.
Access	Post / branch
Minimum/ maximum limits	Minimum: £10 per month Maximum: £500 per month

Opening an account with the Vernon could not be easier – simply read through our Terms & Conditions, complete an application form and take or post it to your nearest branch along with your initial investment and identification documentation. Click here for details of our identification requirements.