Offset Mortagages

We know some clients want to make use of their own or their family's savings in their mortgage.

Our offset mortgages allow your client to deposit savings into an offset account alongside their mortgage, allowing us to offer term reduction and payment reduction options on their mortgage, calculated against the savings.

Make your clients' savings work harder
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2.64% 2 year discounted rate Offset Mortgage

Code XO0017
2 years 5.14% 80% £175* £999** £250 Yes No Yes  
More details, fees & downloads Criteria A-Z Check affordability DIP Request Illustration Request Contact your BDM Online Application
  • Discount - 2.50% applied to our Flexi Managed Mortgage Rate for the first 2 years
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
  • LTV - Maximum LTV 80%. For applications above 75% LTV 12 months repayment history, mortgage or rental, must be provided
  • Early Repayment Charges - 2% in the first year, 1% in the second year
  • Cost for comparison - 4.9% APRC
  • Minimum interest - 2.19%
  • Purpose - Purchase, remortgage, product switch and additional borrowing
  • *Valuation fee - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount
  • **Product fee - £999 for loans up to £500,000. For loans above £500,000 0.3% of the loan amount
  • Options available - Term Reduction and Payment Reduction
  • Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage
  • Additional features - Overpayments and partial capital repayments allowed. Overpayments build up a credit position to be used for future underpayments, payment holidays and borrow back - allowed to the remaining value of previous overpayments with our prior agreement. 100% of the loan amount can be offset

3.14% 5 year discounted rate Offset Mortgage

Code XO0018
5 years 5.14% 80% £175* £999** £250 Yes No Yes  
More details, fees & downloads Criteria A-Z Check affordability DIP Request Illustration Request Contact your BDM Online Application
  • Discount - 2.00% applied to our Flexi Managed Mortgage Rate for the first 5 years
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
  • LTV - Maximum LTV 80%. For applications above 75% LTV 12 months repayment history, mortgage or rental, must be provided
  • Early Repayment Charges - 3% in the first, second and third years, 2% in the fourth year, 1% in the fifth year
  • Cost for comparison - 4.5% APRC
  • Minimum interest - 2.69%
  • Purpose - Purchase, remortgage, product switch and additional borrowing
  • *Valuation fees - Free for properties up to £500,000. For properties over £500,000 the standard valuation fee scale applies, less £330 discount
  • **Product fee - £999 for loans up to £500,000. For loans above £500,000 0.3% of the loan amount
  • Options available - Term Reduction and Payment Reduction
  • Additional criteria - You are required to open an Offset Saver account in conjunction with this mortgage
  • Additional features - Overpayments and partial capital repayments allowed. Overpayments build up a credit position to be used for future underpayments, payment holidays and borrow back - allowed to the remaining value of previous overpayments with our prior agreement. 100% of the loan amount can be offset

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. For remortgage applications we offer assistance with legal fees. Not available for Expats or for mortgages held in trust.

Unique Features of an Offset Mortgage

Term Reduction

With this option the offset savings are used to pay off the mortgage earlier. The interest saved by offsetting the savings means more is paid back each month, and the mortgage balance should reduce faster and may be paid off sooner. Compared to the payment reduction option, the monthly payments will stay the same.

Payment reduction

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 payments.

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.

  • Case Study

    Using an Offset Mortgage to help their family

    A retired couple making sure that family comes first.
    Download case study
    CaseStudy-OffsetMortgage-DerekRita
  • Case Study

    Making the most of your savings

    The advantages of an offset mortgage.
    Download case study
    CaseStudy-OffsetMortgage-DanyaJan

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Find Your Local

Business Development Manager

Your Local BDM:

Michelle Parry-Bunter

Michelle has worked for the Society for over a decade and focuses on the South Coast. Contact Michelle for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan was previously a mortgage and protection adviser, and focuses on Essex and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Charlotte Grimshaw

Charlotte has a background working with intermediaries within the Building Society sector and focuses around the West M25 area. Contact Charlotte for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East & West Midlands. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

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