Offset plus for borrowers

A helping hand with your offset mortgage

Offset plus is a great new feature available on our offset accounts, which gives you a greater scope to benefit from linking savings to your mortgage.

With our standard offset accounts you can offset your savings against your mortgage to save yourself money (if you are not familiar with the concept, have a look at our offset example to see how it works).

Offset plus simply means that as well as your own savings, the savings of family and friends can also be linked to your mortgage - meaning that they can give you a helping hand when it’s needed. They link their savings to your mortgage by opening an offset plus savings account.

Your family and friends retain control over their savings because they haven’t given the money to you. Your mortgage and the offset plus savings will always remain in separate accounts but the savings accounts are linked to the mortgage. Therefore, when we calculate the mortgage interest you owe, you get the benefit of a higher total savings balance offset against your mortgage.

You must hold at least one offset savings account in your name and can have a maximum of three savings accounts linked to an offset mortgage. Up to two of these accounts can be offset plus savings accounts.

You’ll be able to see the total benefit you’re getting from all the combined savings linked to your mortgage, on your annual mortgage statement, as well as individual linked savings balances through our website.

Are you interested? Learn more about offset plus by following the links below:

• Payment options
  Find out about different ways to benefit financially from an offset plus.
• Linked savings
  What is the incentive for the saver to link their savings to your mortgage with offset plus?
• The impact on your mortgage
  Will the linked savings affect the amount we are able to lend you?
• How to apply