These Santander customers to see £150 land in accounts | Personal Finance | Finance

Santander has revealed that eligible customers will receive £150 – deposited into their bank accounts.

In emails sent by Santander this week, the bank outlined its My First Mortgage scheme, which individuals may be able to use to purchase their first property with a £10,000 deposit.

“One way to help get you there is with a gift of money”, Santander noted, clarifying that relatives and friends can gift your deposit for you.

Following further explanation of the scheme, Santander said it is “also worth thinking about how you can protect everything you’ve worked so hard for”.

The financial organisation highlighted that it provides life insurance – “If the unexpected were to happen, your mortgage could be paid off so your loved ones wouldn’t be left worrying about the payments”.

And if you hold a Santander mortgage and arrange life insurance with the bank, you’ll obtain £150 cashback.

Santander clarified that the offer can be terminated at any point, and that the cashback is transferred into your account 280 days after the policy has been arranged, provided it hasn’t been cancelled.

“The cashback will only be paid once per customer and on one policy only.”

Santander Select customers, and those who hold a current account from the Santander Edge range, will similarly obtain £150 cashback when arranging life insurance with Santander.

All other customers receive £100 cashback, Santander confirmed.