5 Year Offset Mortgages

To find out if there's a 5 year offset mortgage that's right for you, check out the table below, where we offer our selection of the latest deals. 5 year offset mortgages offer a long-term mortgage option, letting you use your savings to offset your debt, reducing the amount of interest you pay. For example, if you take out a £100,000 offset mortgage and you have £20,000 of savings, you would only pay interest on £80,000 of the debt. See the table below for some of the latest deals and see if there's a 5 year offset mortgage that offers what you're looking for in a mortgage.

Offset Mortgage Deals

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Offset Fixed

1.44%

Reverts to 3.69%

2

Years

60%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term.
Offset Fixed

1.49%

Reverts to 3.69%

2

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term.
Offset Fixed

1.99%

Reverts to 3.69%

2

Years

60%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term.
Offset Fixed

2.09%

Reverts to 3.69%

2

Years

75%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term.
Offset Discount

2.29%

Reverts to 4.70%

2

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.
Offset Discount

2.29%

Reverts to 4.70%

2

Years

75%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.40% APRC. This is the cost of the mortgage over the full term.
Offset Discount

2.49%

Reverts to 4.70%

2

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.50% APRC. This is the cost of the mortgage over the full term.
Offset Lifetime Tracker

2.74%

Life of the mortgage

60%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 2.80% APRC. This is the cost of the mortgage over the full term.
Offset Lifetime Tracker

3.14%

Life of the mortgage

60%

NoMore Info >
Early redemption charges may apply. Overall Cost for Comparison 3.20% APRC. This is the cost of the mortgage over the full term.
Offset Discount

2.49%

Reverts to 4.70%

2

Years

80%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.50% APRC. This is the cost of the mortgage over the full term.
Offset

4.95%

Reverts to 4.95%

2

Years

85%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 5.20% APRC. This is the cost of the mortgage over the full term.
Offset

2.95%

Reverts to 4.95%

2

Years

85%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 5.20% APRC. This is the cost of the mortgage over the full term.

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above Offset mortgage products are a selection of deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063

A 5 year offset mortgage is a type of interest rate deal where your savings account, current account, or credit card will be linked to your mortgage to reduce the overall amount of interest you pay.

 

For example, if you take out a mortgage loan of £200,000 and you have £80,000 savings, you will only have to pay interest on £120,000 of your mortgage.

 

If you have savings, are self employed, or rely on commission or an annual bonus, this may be the best type of interest rate mortgage deal for you because the offset mortgage is flexible and the more savings you have, the less interest you pay.

 

You will still have easy access to your savings if you choose this type of interest rate mortgage deal. You may also be able to take payment holidays depending on the circumstances, the flexibility these plans is often what attracts a great deal of customers. A 5 year offset mortgage could benefit you if you:

  • Are a high rate taxpayer
  • Have buy to let properties
  • Have a significant amount of money saved
  • Have irregular income (rely on bonuses and commission)

 

Take a look at our mortgage comparison table above for a list of offset mortgages, ranging from 2 years to 5 years.

 

If you are not sure whether a 5 year offset mortgage is the right choice for you, you may wish to consider other types of interest rate deals:

  • Fixed rate mortgage – the interest rate stays at a fixed rate which is set by the lender according to Bank of England base rates. When the term ends the interest rate changes to the lender’s standard variable rate.
  • Standard variable rate mortgage – the interest rate is set by the lender who usually considers the Bank of England base rate when deciding the level of interest.
  • Tracker mortgage – the interest rate traces the Bank of England base rate and could rise or fall accordingly.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker