Offset mortgages allow you to make payments via your current account. Offset mortgages allow you miss or make extra payments based on the health of your savings.
| Effective Offset Rate | ||||||||
|---|---|---|---|---|---|---|---|---|
| Company |   |  |  |  |  |  |  | |
Allied Irish Bank (GB) | 6.50% variable | 80% | 6.50% | N/A | N/A |   | Daily |  |
| Beverley BS | 5.85% (0.75% disc) for 1 year 6.10% (0.50% disc) for 1 year 6.35% (0.25% disc) for term | 75% | N/A | 5.85% | N/A |  | Daily | |
| Britannia BS | 6.79% for term | 90% | N/A | 6.79% | N/A |  | Daily | |
| Clydesdale Bank | 6.34% for term | 95% | 6.34% | 6.34% | N/A | | Daily | |
| Coventry BS | 6.79% to 30.6.13 6.90% for term | 90% | N/A | 6.79% | N/A | | Daily | |
| Cumberland BS | 6.24% for term (BBR + 1.24%) | 90% | 6.24% | 6.24% | N/A | Daily | | |
| Egg | 6.00% BBR + 0.75% for term | 90% | N/A | 6.00% | N/A | | Daily | |
| Intelligent Finance | 7.29% variable to 1.7.11 7.00% for term | 75% | 2.47% | 4.80% | N/A | | Daily | |
| Leek United BS | 6.09% for 10 years | 75% | N/A | 6.09% | N/A | | Daily | |
| Market Harborough BS | 6.10% (1.20% discount for term) | 75% | N/A | 6.10% | N/A | | Daily | |
Key:
- OP = Overpayments.
- UP = Underpayments.
- DD = Draw Down.
- PH = Payment Holiday
Product Guide
Offset Mortgages
Current account mortgages allow you to operate your mortgage borrowing through a current account. In effect, it is like having a large overdraft. Thus, if you had a mortgage of £100,000 and £1,000 credit in your account your balance would show as £99,000 in the red. You may be required to pay your salary into these accounts.
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