Offset Buy to Let Mortgages

Buy to Let clients may wish to make use of their own or their family's savings with an offset mortgage.

Offset savings reduce the amount of interest charged on the mortgage. Other things being equal this increases net profit (the tax charged on this higher figure will be more as a result) and can increase overall cashflow received from letting.

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7.49% Offset Mortgage 1.70% Discounted Rate from follow on rate for 2 years (XO0061)

 Code XO0061
2 years 9.19% 60% £175* £999~ Yes Yes No  
More details, fees & downloads Criteria A-Z Check affordability DIP Request Illustration Request Contact your BDM Online Application

· Purpose - Offset applications for purchase, remortgage, product switch and further advance
· Options available - Term reduction or payment reduction
· Discount - 1.70% applied to our Residential Investment Managed Mortgage Rate for 2 years
· Minimum rate - 4.84% 
· LTV - Maximum 60%
· *Application Fee - £175 + Valuation Fee (£125 for further advance, £0 for switch)
· Valuation Fees (Purchase) - Based on the greater of the purchase price or value of the property. 
· Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount.
· Valuation Fees (Further advance and Product Switch) - £0
· Valuation Fees (Multi Unit Freehold Blocks) - A separate valuation fee scale will apply for this property type. For purchase applications, the full Multi-Unit Freehold Block valuation fee scale will apply. For remortgage applications, a discount of £330 from the Multi-Unit Freehold Block valuation fee scale applies.
· ~Product fee - £999 for loans up to £500,000. For loans above £500,000 0.4% of loan amount. (£0 for further advance and switch)
· ^Cashback - £100
· Early Repayment Charges - 2% in the first year and 1% in the second year
· Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
· Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches
· Cost for comparison - 9.4% APRC
· Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage. On completion of the mortgage, a cashback amount of £100 will be used to open your linked Offset Saver account

7.64% Offset Mortgage 1.55% Discounted Rate from follow on rate for 2 years (XO0062)

 Code XO0062
N/A 9.19% 70% £175* £999~ Yes Yes No  
More details, fees & downloads Criteria A-Z Check affordability DIP Request Illustration Request Contact your BDM Online Application

· Purpose - Offset applications for purchase, remortgage, product switch and further advance
· Options available - Term reduction or payment reduction
· Discount -1.55% applied to our Residential Investment Managed Mortgage Rate for 2 years
· Minimum rate - 4.99% 
· LTV - Maximum 70%
· *Application Fee - £175 + Valuation Fee for purchase and remortgage. (£125 for further advance and £0 for product switch)
· Valuation Fees (Purchase) - Full standard valuation fee scale applies. (£0 for further advance and switch)
· Valuation Fees (Remortgage) - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount.
· Valuation Fees (Further advance and Product Switch) - £0
· Valuation Fees (Multi Unit Freehold Blocks) - A separate valuation fee scale will apply for this property type. For purchase applications, the full Multi-Unit Freehold Block valuation fee scale will apply. For remortgage applications, a discount of £330 from the Multi-Unit Freehold Block valuation fee scale applies.
· ~Product Fee - £999 for loans up to £500,000. For loans above £500,000 0.4% of the loan amount. (£0 for further advance and £0 for product switch)
· ^Cashback - £100
· Early Repayment Charges - 2% in the first year and 1% in the second year
· Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
· Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches
· Cost for comparison - 9.5% APRC
· Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage. On completion of the mortgage, a cashback amount of £100 will be used to open your linked Offset Saver account

All of these mortgage products have limited funds available and may be withdrawn at any time. Our mortgages are available to applicants aged 18 and over for properties in England or Wales. Products require linked Offset Saver to be opened. These are not available for Expats or Limited Companies.

Unique features of an offset buy to let mortgage

Term reduction

With this option your client will pay the full mortgage payment, and the benefit from offsetting your savings goes towards reducing the capital, so the mortgage balance should reduce faster and the mortgage may be paid off sooner.

Payment reduction

With this option the offset savings are used to lower monthly payments, but the mortgage won't be paid off sooner. Interest saved each month will be used to reduce the amount of the next month's mortgage payment, so a greater offset will mean lower monthly repayments.

Offset Saver

With our offset products your client will open a linked Offset Saver account. Unlike a regular savings account there is no tax to pay on the money held within - however the future tax treatment of offset accounts may vary.

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Find Your Local

Business Development Manager

Your Local BDM:

Neil Cadwallader

Neil has over 19 years experience in Financial Services from pensions and investments to mortgages. Neil focuses around South Wales and the West of England area. Contact Neil for help with your clients' mortgages.
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Stuart Heavens

Stuart focuses on the South Coast area. Contact Stuart for help with your clients' mortgages.
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Amar Mashru

Amar focuses on the Central London area. Contact Amar for help with your clients' mortgages.
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Arif Kara

Arif was previously a mortgage adviser, and focuses on North and West London. Contact Arif for help with your clients' mortgages.
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Nathan Waller

Nathan, previously a mortgage broker, focuses on Cambridgeshire, East Sussex, Essex, Suffolk, Hertfordshire, Bedfordshire, Lincolnshire, Norfolk and Kent. Contact Nathan for help with your clients' mortgages.
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Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
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Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East and West Midlands as well as the Southwest. Contact Darren for help with your clients' mortgages.
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Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire and the North East. Contact Paul for help with your clients' mortgages.
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