Halifax and Bank of Scotland introduce double savings scheme for first-time buyers

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Halifax and Bank of Scotland introduce double savings scheme for first-time buyers

Wed 6th Aug 2008

A new scheme is enabling first-time buyers to double their savings for investing in their first home.

Savers who make regular deposits in a savings account with Halifax or Bank of Scotland for a minimum of six months, capped at £5,000, will have their savings matched pound for pound by Persimmon if the money is used as a deposit on a Persimmon home.

David Bryant of Persimmon Homes said the scheme could make "a real difference in people's circumstances" in terms of getting onto the property ladder.

Mike Bottomley, national new build manager at Halifax, called it a "great deal for first-time buyers".

Halifax has also launched an exclusive tracker mortgage with Legal & General.

Available for up to 80 per cent loan to value for purchase and remortgage customers, it comes with a £999 arrangement fee which can be added to the loan on completion.

Remortgage clients will get free valuation and legal fees.

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