How offset plus works for mortgage holders

Link your friends’ or family’s savings accounts to your mortgage and reduce the interest you pay.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

How does Offset Plus work for mortgage holders?

If you have an offset mortgage with YBS, you can link up to two additional savings accounts to your mortgage, meaning you pay less interest. 

How it works:
Link up to two savings accounts to your offset mortgage. These can belong to friends or relatives.
Your friends or relatives will need to open Offset Plus Savings accounts and link these to your offset mortgage. 
You can then offset all the balances against your mortgage.
The savings are still your friends’ or relatives’ money.  Only they have access to it. It’s just linked to your offset mortgage.
Choose to reduce your monthly payments or pay off your mortgage sooner.
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How to link to Offset Plus Savings accounts

If you don’t have an offset mortgage

You’ll need to apply for a YBS offset mortgage.

Once you’ve completed on your mortgage, ask your friends or relatives to open Offset Plus Savings accounts and link them to your mortgage.

If you already have an offset mortgage

Ask your friends or relatives to open Offset Savings Accounts and link them to your mortgage. 

You’ll need to download a form, complete it together, and post it back to us.

Offset Plus for savers

Your friends or relatives will need to open Offset Plus savings accounts. Find more details about these accounts on our Offset Plus Savings page.

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Is linking to Offset Plus Savings accounts right for me?

You benefit from having extra savings linked to your mortgage. This won't increase the amount we'll lend to you. 

Things to consider when linking to Offset Plus Savings accounts

If your friends or relatives withdraw their money and the savings balance goes down, the interest you pay would go up. Your monthly payments may also go up.

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More about offset mortgages

Find more about offset mortgages in our helpful guide, including:
How does an offset mortgage work?
Pros and cons of offset mortgages.
What are your offset mortgage options?
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Financial Services Compensation Scheme

Deposits in the savings element of your Offset mortgage are covered by the Financial Services Compensation Scheme (FSCS). The FSCS will cover up to £85,000 of the deposits held with the Yorkshire Building Society, Chelsea Building Society, Norwich & Peterborough Building, Society and Egg. 

More about the Financial Services Compensation Scheme.

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