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Offset mortgages
New customers will no longer be able to apply for our Owner Occupier and Buy to Let Offset mortgage products. However, if you are an existing borrower, you will be able to apply for our Offset mortgage products for additional borrowing and product switches.
An Offset mortgage works in a similar way to a standard mortgage. However, it has an additional feature known as an Offset Saver savings account. This savings account is linked to the mortgage. The amount of money in the Offset Saver savings account is deducted from the mortgage on which interest is charged.
You can choose to offset your savings to either reduce your monthly payments or reduce the term of your mortgage.
How does an Offset mortgage work?
Find out how you can offset your savings against your mortgage.
Offset Saver account
The Offset Saver is linked to our Offset mortgage. Up to four Offset Saver accounts can be linked to an Offset mortgage, but each savings account may not be linked to more than one Offset mortgage.
Frequently asked questions
You probably have lots of questions about how an Offset mortgage works. See answers to the most common questions here.
Who can apply?
New customers will no longer be able to apply for our Owner Occupier and Buy to Let Offset mortgage products. However, if you are an existing borrower, you will be able to apply for our Offset products for additional borrowing and product switches.