Offset Mortgages

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Latest Deal - NatWest 2 Year Fixed »NatWest Mortgages

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1.41%Reverts to 3.75% after 2 years


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


Offset Mortgage Deals

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Offset Discount

2.49%

Reverts to 4.70%

2

Years

75%

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 Discount

2.49%

Reverts to 4.70%

2

Years

75%

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 Discount

2.69%

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 Discount

2.69%

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.

Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


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

Compare Offset Mortgage Deals

Offset mortgages are a type of interest rate deal that links your current account, savings account or credit card to your mortgage loan with the aim of reducing the amount of interest you pay and decreasing the overall size of your mortgage.

 

Your savings are combined with your debt and the interest you earn on your savings is used to reduce the amount of interest you pay when repaying your mortgage loan, potentially saving you a significant amount of money. The more savings you have, the more interest you are likely to earn, and the interest accumulated on your savings is used to reduce the interest on your mortgage loan.If your mortgage loan is £150,000 and your savings are £50,000, you will only have to pay interest on the first £100,000 of your mortgage loan.

 

Offset mortgages are generally considered to very flexible, and may enable customers to:

 

  • Make as many overpayments as they want to reduce the overall size of their mortgage
  • Make underpayments in times when they need to dip into their savings
  • Take advantage of a drawdown facility allowing them to withdraw money from their mortgage account
  • Take payment holidays if necessary

Offset mortgages could suit you if you are a person:

  • With substantial savings that can be put to use
  • Who has a cash ISA
  • In a higher tax bracket
  • With buy-to-let properties

Alternatively if you require mortgage advice use the whole of market mortgage advice service below:


Which? Mortgage Service
Mortgage ServiceWhole Of Market Mortgage AdviceFeaturesMore Info
yesWe’ll pick the perfect mortgage for you. Our mortgage advisers get paid salaries, not commission. So when they recommend a mortgage, you can be sure it’s the best one for you – not for them.
Call 0333 305 3219
More Info >

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