The Newcastle Big Home Saver ISA

A question about : The Newcastle Big Home Saver ISA

Can anyone tell me, if you save regularly in this account do you get the 1% bonus even if you don't want the mortgage? If this is correct, this ISA is offering 3%.

Best answers:

• This ISA is not presently available to new subscribers but existing subscribers can get 3% if they meet their T&Cs. A mortgage is not compulsory with this ISA.
• Anyone got a link to this ISA? I looked on there website and can see the Big Home Saver account, but this isn't an ISA and interest is paid after tax deduction. The leaflet does say the account is also available as an ISA but I can't see a link on the website.
  Is this perhaps where the confusion over who us eligible for the account comes from? Is the ISA only available to current members, whilst the saving account is available to all?
• https://www.newcastle.co.uk/savings/big-home-saver.aspx
  Try this.
• Your link is for their standard regular saver, not an ISA.
• Their existing ISAs have now been withdrawn. New ones being released on the 6th April.
  https://www.newcastle.co.uk/savings/cash-isa.aspx
• If you follow my original link the ISA is there again. 3%, paid monthly I think. Drip feed up to Ј500 pm and instant access. As I understand it you do not have to use this for a mortgage, but you can if you want to!
• This looks like a good ISA, paying more than most current accounts after you consider the tax deductions. Looking online, it doesn't seem to say whether withdrawals are allowed or if there's any loss of interest where deductions are made (sorry if it's blatantly obvious on the site, my head is spinning from sorting over my finances over the last few weeks)
  Can anyone confirm whether withdrawals are allow end this ISA and if so, is there any loss of interest?
  Thanks!
• Just to make folks aware, I phoned Newcastle today about the monthly limit on this ISA. It's currently Ј500 max per month but it's under review and may be increased in line with the new NISA limits. The agent I spoke with advised that even if the limit in this account isn't increased, you can take out another ISA with them god the remaining allowance
• Just applied, thanks for the details everyone.
• For debate:
  For some people, I'm not sure this is quite the no brainer it immediately appears.
  1) In effect you'll get the equivalent of c1.5% on Ј15k, not 3 % equiv't which, admittedly, is fine if you didn't have the cash lump at the outset.
  But if your already getting 3% taxable (Santander, Lloyds, TSB, BoS..) its hardly worth the shuffling effort - although there is a more subtle argument for future tax planning.
  2) At the end of 12 months, should you choose to invest your Isa elsewhere, what will happen to the bonus interest as you wont be able to make a qualifying contribution every month? Eh?
  Unless they change something it'll be at least 1% less interest after 12 months...
  The saving grace is you can make a near instant transfer if something better appears (that accepts transfers in) in the run up to the July changes...or at the next years Isa season.
• Obviously. That's why it says 'hardly worth it...' as opposed to 'not worth it..'
• I make about Ј1.2K a year from all those "hardly worth it" bits that are available in the market. I hate that Tesco slogan, but they are right, every little helps