Offset Plus for Borrowers | Mortgages | YBS
Offset Plus for Borrowers
The more savings your family and friends link to your mortgage, the more you can reduce the interest payable on your loan
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
A helping hand from family and friends
Offset Plus is an extra option that works alongside your own Offset Savings Account to reduce the cost of your mortgage.
The only difference is that Offset Plus Savings Accounts use savings from your family and friends. It's still their money which only they have access to, but it's linked to your offset mortgage.
How it works
- Link up to 3 savings accounts to your offset mortgage (up to 2 can be Offset Plus Savings Accounts)
- Offset the combined balances against your mortgage balance
- Choose to reduce your monthly payments or pay off your mortgage sooner
- View your offset benefits on your annual statement
- Family and friends have instant access to their savings
Summary
Key Product Information for our Savings Accounts
Account Name | Offset savings account | Offset Plus savings account |
---|---|---|
Interest Rates (AERs) | No interest is earned | No interest is earned |
Tax Status | n/a | n/a |
Condition for bonus payment | n/a | n/a |
Withdrawal arrangements | Unlimited withdrawals** | Unlimited withdrawals** |
Access | Branch or agency | Branch or agency |
**Subject to daily operational limits
How to apply...
If you're a new Offset mortgage customer
- Request an Offset Plus application pack
You can ask for one by phone or download online. - Visit our Offset mortgage range
- Open an Offset Savings Account once your mortgage has completed
- Ask your family or friends to open an Offset Plus Account
They will need to fill in their details and sign the application form, so that we know which mortgage account to link your Offset Plus Savings Account to. - We will link their account to your new Offset mortgage
If you already have an offset mortgage
- Request an Offset Plus application pack
You can ask for one by phone or download online. - Ask your family or friends to open an Offset Plus Account
They will need to fill in their details and sign the application form, so that we know which mortgage account to link your Offset Plus Savings Account to. - We will link their account to your new Offset mortgage
Online
Download an application form and return the completed application to the following address
Yorkshire Building Society
Yorkshire House
Yorkshire Drive
Bradford
BD5 8LJ
Apply by phone
Speak to one of our friendly advisers about this mortgage.
New customers
Existing customers
9am - 5pm Mon-Fri
9am - 1pm Sat