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.

Key features

  • 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

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

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.

A guide to your Offset options (574 KB)

How to apply...

If you're a new Offset mortgage customer

  1. Request an Offset Plus application pack
    You can ask for one by phone or download online.
  2. Visit our Offset mortgage range
  3. Open an Offset Savings Account once your mortgage has completed
  4. 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.
  5. We will link their account to your new Offset mortgage

If you already have an offset mortgage

  1. Request an Offset Plus application pack
    You can ask for one by phone or download online.
  2. 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.
  3. We will link their account to your new Offset mortgage

How would you like to
request an application pack?

Online

You can download an application form online and send it to us by post.

Download application form (1038 KB)

Apply by phone

Speak to one of our friendly advisers about this mortgage.

New customers
0345 166 9510*

Existing customers
0345 166 9243*

9am - 5pm Mon-Fri 9am - 1pm Sat

Please return completed applications to the following address

Yorkshire Building Society
Yorkshire House
Yorkshire Drive
Bradford
West Yorkshire
BD5 8LJ

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