Consumers are keen to take advantage of savings accounts that offer bonus rates when bundled with a mortgage, according to new Which? research.
These types of accounts have proven particularly popular among visitors to our Which? Money Compare savings and Isa tables since they were launched four weeks ago.
The Nationwide Save to Buy Isa Issue 2, which offers a lump sum cashback reward on completion of a Nationwide Save to Buy mortgage, has attracted more clicks than any of the other 882 savings products compared in our tables.
Meanwhile, a similar product offered by Monmouthshire Building Society is currently the fifth most applied-for savings product.
The Which? savings and Isa comparison tables let you search all available savings accounts and Isas from all available providers to choose the best savings rates based on quality of service as well as cost and benefits.
Savings accounts aimed at first-time buyers
A few savings providers have created products specifically to help customers put money aside for a mortgage deposit.
However, many of these products require customers to follow certain terms and conditions in order to qualify for a cashback sum or bonus rate.
The Nationwide Save to Buy Isa Issue 2, for example, requires regular monthly deposits of £50 and doesn’t allow partial withdrawals.
The Monmouthshire First Home Bonus Saver pays a fixed conditional bonus of 3.00% AER/Gross if you take out a Monmouthshire Building Society Mortgage within five years of opening the account, but it only allows four withdrawals each year and a maximum annual investment of £6,000. It requires a minimum monthly deposit of £20.
Those looking for an account with less constraints could be better off storing their money in an instant-access savings account or an instant-access cash Isa.
Which? Comparison Table: Best instant-access savings accounts – compare the best deals on the market