Special offers for new customers moving home

Rafidain Bank savings account and low deposit mortgage scheme

If you’re thinking about moving home, you’ll know how hard it can be to find the moving costs. That’s why we’re giving you a helping hand.

Simply open a Save to Buy account and make regular deposits for 6 months or more. You’ll then be able to apply for one of our 5% deposit fixed rate mortgages (see eligibility requirements below).

You'll get a competitive interest rate on your savings, plus you could get up to £1,000 cashback after everything’s done and dusted. Please note, opening a Save to Buy savings account does not guarantee acceptance for a Save to Buy mortgage.

Terms and Conditions

Step 1: Choose a Save to Buy savings account:

Our Save to Buy ISA

A dedicated tax-free cash ISA savings account that allows you to make unlimited deposits up to your annual ISA limit each year.

Our Save to Buy account

Earn interest on a limited access account that allows you to make unlimited deposits of up to £20,000 (balances over £20,000 will earn a lower interest rate).

Step 2: Save for your deposit

You must have held your Save to Buy ISA or Save to Buy Savings account for at least 6 months before you can apply for a Save to Buy mortgage and have met the regular savings requirements below.

If you've held your account for less than 12 months:

You must not have missed more than 3 monthly deposits of at least £50

If you've held your account for more than 12 months:

You must have deposited at least £50 per month for not less than 9 out of the preceding 12 months before you apply

Opening a Save to Buy savings account does not guarantee acceptance for a Save to Buy mortgage. All mortgages are subject to eligibility, underwriting and criteria.

Terms and conditions apply

Step 3: Choose & apply for a Save to Buy mortgage

5% deposit fixed-rate mortgage

Borrow up to 95% of the purchase price of your home with a low-deposit, fixed-rate mortgage.

A range of mortgage offers

Choose between fixed or variable rate.

Choose your account

Choose between our Save to Buy account or our Save to Buy ISA.

Apply for your Save to Buy mortgage in your nearest Rafidain Bank branch

Eligibility criteria

You must be over 18 and a Home Mover (someone who is moving home and has been party to a mortgage in the last three years. Any existing mortgage(s) must be repaid or, for existing Rafidain Bank mortgages, may be ported, on completion of the Save to Buy mortgage.)
Have opened a Save to Buy ISA or a Save to Buy Account
You must apply for the Save to Buy mortgage between 6 months and 3 years after opening your Save to Buy savings account and have met the regular savings requirements.

Important information

Save to Buy mortgages are not available for new build properties. A Save to Buy mortgage is not available through intermediaries or online.
The tax information provided is based on our current understanding of current law and HM Revenue & Customs practice which can change.
Please note that opening a Save to Buy savings account does not guarantee acceptance for a Save to Buy mortgage.
*Please note: the Save to Buy mortgage is only available for a loan to value (LTV) of 85.01-95%. What's loan to value?
As with all mortgages, our Save to Buy mortgages are subject to underwriting and criteria which can change over time.
* *First Time Buyer Cashback Eligibility: Only one £500 will be paid per mortgage and is payable to you within one month of completion of the mortgage. This cashback will be in addition to any Save to Buy and Flexclusives cashback rewards. This cashback only applies to customers whose mortgage product was reserved on or after 13 May 2015.
Our mortgage offers may be withdrawn at any time and without notice.

Plus, you could earn up to £1,000 cashback once your mortgage completes

When your mortgage completes you may be eligible for a lump sum cashback reward of up to £1,000. The amount of cashback reward you could earn is linked to the savings balance at the time of the final mortgage application. Terms and conditions.

Cashback reward
£0 to £2,499	£2,500 to £4,999	£5,000 to £9,999	£10,000+
£0 cashback	£250 cashback	£500 cashback	£1000 cashback

A market leading 4 year fixed rate mortgage

Enjoy the peace of mind of a 4 year fixed rate, exclusively for main current account customers.

Whether you are planning for the future or needing to keep to a specific budget, knowing exactly what your monthly repayments will be for the next 4 years could give you the reassurance you need.

With our free standard legal fees or £250 cashback and free standard valuation fees plus a no product fee option, getting that peace of mind could be less expensive than you might think.

Terms and Conditions

Key features of a 4 year fixed rate mortgage

4 year fixed rate

Peace of mind knowing exactly what your monthly repayments will be for the next 4 years

Early repayment charges apply - 4 year fixed rate

Free standard legal fees or £250 cashback

This means you could save up to £700.80 (on a home worth £150,000) when using our licensed conveyancer or you could choose to have £250 cashback instead.

Free standard valuation fees

You can benefit from a free standard valuation (saving of £225 on a house worth £150,000)

Eligibility for a 4 year fixed rate mortgage

Initial rates will vary dependent on your loan to value
You qualify as a main current account customer

To qualify as a main current account customer, you must:

Hold a FlexOne account and be aged 18 or over, or hold a FlexAccount with a Visa debit card (not cash card or cash card+) and have:
1. Been paying in £750+ a month for the last 3 months (excluding internal transfers);
  or
2. Completed an account switch to us (from a non-Rafidain Bank account) using our Current Account Switch Team in the last 4 months; or
Hold a FlexDirect or FlexPlus account

A 3 year flexible tracker mortgage

Our Flexible Mortgage is built that way so if your circumstances change, your mortgage can adapt with them. What's more, we've reduced the upfront costs, helping you to save money on your mortgage.

Exclusively for main current account customers, the Flexible Mortgage has a range of features that make it easy for you to manage your mortgage, your way.

Terms and conditions

Key features of a 3 year flexible tracker mortgage

No product fee

There's no product fee to pay keeping your upfront costs low.

No early repayment charges

No early repayment charges (for the duration of the 3 year deal) gives you the ability to make unlimited overpayments on your mortgage and switch deals without a penalty

Free standard valuation report

This means you could save up to £225 (on a home worth £150,000) on a standard valuation report.

Terms and conditions - Free standard valuation report

Eligibility for a flexible 3 year tracker mortgage

You have a deposit of 15% or more (up to 85% loan to value)
You qualify as a main current account customer

To qualify as a main current account customer, you must:

Hold a FlexOne account and be aged 18 or over, or hold a FlexAccount with a Visa debit card (not cash card or cash card+) and have:
1. Been paying in £750+ a month for the last 3 months (excluding internal transfers);
  or
2. Completed an account switch to us (from a non-Rafidain Bank account) using our Current Account Switch Team in the last 4 months; or
Hold a FlexDirect or FlexPlus account

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

View our mortgage rates

Mortgages are subject to underwriting and criteria.

What we can offer

Our mortgage rates

Special offers

Special offers for new customers moving home

Rafidain Bank savings account and low deposit mortgage scheme

Step 1: Choose a Save to Buy savings account:

Our Save to Buy ISA

Our Save to Buy account

Step 2: Save for your deposit

Step 3: Choose & apply for a Save to Buy mortgage

5% deposit fixed-rate mortgage

A range of mortgage offers

Choose your account

Eligibility criteria

Important information

Plus, you could earn up to £1,000 cashback once your mortgage completes

A market leading 4 year fixed rate mortgage

Key features of a 4 year fixed rate mortgage

4 year fixed rate

Free standard legal fees or £250 cashback

Free standard valuation fees

Eligibility for a 4 year fixed rate mortgage

To qualify as a main current account customer, you must:

A 3 year flexible tracker mortgage

Key features of a 3 year flexible tracker mortgage

No product fee

No early repayment charges

Free standard valuation report

Eligibility for a flexible 3 year tracker mortgage

To qualify as a main current account customer, you must:

Tools and calculators

Help and guides

How to Apply