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
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.
Key features
Please return completed applications to the following address
Yorkshire Building Society
Yorkshire House
Yorkshire Drive
Bradford
West Yorkshire
BD5 8LJ
Some things to bear in mind
You benefit from having extra savings linked to your mortgage, but this won't increase the amount we'll lend to you. If your friend or relative withdraws their money and the savings decrease, do consider how you'll manage your mortgage payments. We'll let your relative or friend know if any changes in circumstances may affect their interests.
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
Please return completed applications to the following address
Yorkshire Building Society
Yorkshire House
Yorkshire Drive
Bradford
West Yorkshire
BD5 8LJ
Choose your offset benefit
Before your mortgage starts, choose ONE of the three benefit options below. You're free to change your mind at any time in the future.
Pay your mortgage off sooner
You benefit from paying off your mortgage quicker, but keep your monthly payments the same.
or reduce your monthly payments now
You benefit from lower mortgage payments now, but keep the same mortgage term.
or reduce your payments in the future
You benefit from lower mortgage payments every time your account is reviewed annually, but keep the same mortgage term.
Please return completed applications to the following address
Yorkshire Building Society
Yorkshire House
Yorkshire Drive
Bradford
West Yorkshire
BD5 8LJ
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
How to apply...
Online
You can download an application form online and send it to us by post.
Apply by phone
Speak to one of our friendly advisers about this mortgage.
New customers
Please return completed applications to the following address
Yorkshire Building Society
Yorkshire House
Yorkshire Drive
Bradford
West Yorkshire
BD5 8LJ