[x close]

Offset Plus for Savers

This instant access account is linked to a relative or friend's offset mortgage to help reduce their monthly payments.

This could be right for you if:

  • you want your savings to help offset the interest on a friend or relative's Yorkshire Building Society offset mortgage
  • you want access to your money if you need it
  • you don't need to earn interest on your savings

Key Features

  • Instead of earning interest, use your savings to reduce the cost of your relative or friend's Yorkshire Building Society offset mortgage (interest is only charged on the difference between their offset mortgage balance and your combined offset savings balance)
  • Open an account in single or joint names (although you can't open a joint account with your friend or relative)
  • Save up to £1 million in the account
  • Set up standing orders to make regular payment into your account
  • Withdraw up to £1,000 in cash or up to £150,000 by cheque from your branch without notice (if you're withdrawing money from a local agency, you may need to give a few days notice for cash amounts over £250 or cheques over £10,000)

Why choose the Yorkshire?

  • Over 3.5 million customers already trust us with their money
  • We were voted 'High Street Savings Provider of the Year' in the 2013 Consumer Moneyfacts Awards
  • 9 out of 10 customers would happily recommend us (source: YBS Customer Satisfaction Survey, Jan-Nov 2012)
  • We don't have external shareholders to answer to - our customers are our owner
  • Being a mutual means we can put you at the heart of everything we do - which is how we provide great value products and a service you'll want to recommend
back to top


Account Name Offset Plus Savings
What is the interest rate?

No interest is paid on this account

Gross† p.a. AER*
0.00% 0.00%

Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future.

† Interest is paid gross i.e. without tax being taken off on all our savings accounts – ISA accounts pay interest tax-free.

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

Can Yorkshire Building Society change the interest rate?

Not applicable for this account.

What would be the estimated balance after 12 months based on a £1,000 deposit?

Not applicable for this account. The balance in this account will be offset against the balance of the Yorkshire Building Society Offset mortgage for the purposes of calculating interest on the mortgage.

How do I open and manage my account?

The Offset Plus Savings account is only available in conjunction with a Yorkshire Building Society Offset mortgage.

It can be opened in sole or joint names (but you can’t open the account with your friend or relative who has the Offset mortgage with Yorkshire Building Society).

Account management
The account can be managed in branch, by post and online.

The minimum balance is £zero.

The maximum balance is up to £1 million.

Can I withdraw money?

The Offset Plus Savings allows instant withdrawals subject to daily withdrawal limits without loss of interest.

After repayment of the balance of the Yorkshire Building Society Offset mortgage, the balance in the Offset Plus Savings Account (if any) will be transferred to a Access Saver (128 KB) account.

Additional Information



back to top

How much should you save?

You have complete control over when you save, how much you save and when you access your savings. However, as your Offset Plus Savings Account is linked to your relative or friend's Yorkshire Building Society Offset mortgage, here are a few things you might want to consider.

  • The higher your savings, the lower the cost of their mortgage
  • If you withdraw savings, the cost of their mortgage increases
  • It's helpful to tell your relative or friend if your savings balance will change significantly
  • Your savings won't earn interest (so it's not in your financial interest for your savings to be higher than the mortgage balance)
  • We'll let your relative or friend know of anything that may affect their financial interests
back to top

Terms & Conditions

Please read and download the Product Terms and Conditions (130 KB) for this account.

back to top

Proof of identity

Under regulations for the prevention of financial crime, we have a responsibility to protect our members. So before we open any new account, we use an electronic verification system to confirm the identity of the person applying.

Sometimes we need to ask for additional proof of your identity. To make life easier, we've listed some examples below that we're happy to accept. For a more detailed list, just call us on 0345 1200 100*.

Proof of name

Choose one item from this list

  • Passport
  • Full driving licence
  • Original and current notice of tax coding from HM Revenue & Customs (formerly the Inland Revenue)

Proof of address

Choose one item from this list

  • An original utility bill, e.g. gas, electricity, telephone (not mobile phone) less than 3 months old
  • An original and current council tax bill
  • An original bank or building society statement less than 3 months old
back to top

How to apply

Before you apply

If a friend or relative already has an offset mortgage with us and you want to open an Offset Plus Savings Account, simply follow these 3 easy steps:

  1. Request an Offset Plus information pack

    You can ask for one by phone, in branch or online.

  2. Ask your friend or relative to complete the form we send you

    They will need to fill in their details and sign the application form, so that we know which mortgage account to link your Offset Savings Account to.

  3. Return your application by post or in branch

    Please include the following:

    • Your opening deposit. Cheques should be made payable to yourself or to 'Yorkshire Building Society a/c (your name)'
    • Your existing account number if you already have an account with us

Please return completed applications to the following address

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

Please note

You can change your mind within 14 days and we'll help you switch to another account or give you your money back. There's no notice period or charge. Simply write to your branch or agency where you opened your account or call 0345 1200 300*.

How would you like to request an application pack?

Request online

Request an Offset Plus information pack using our online form.

Request in branch

Enter your postcode to find the address of your nearest branch.

Apply by phone

Speak to one of our friendly advisers about this mortgage.

  • 8.00am - 8.00pm, Mon-Fri
  • 9.00am - 1.00pm, Sat
New customers
0345 166 9510*
Existing customers
0345 166 9243*

Not ready to apply just yet?

Print page

Take this away so you can read it later.

Your questions answered

back to top

Get in touch

Visit a branch or agency

Enter a town, city or postcode to find your nearest branch.

Call us

  • 8am - 8pm: Mon to Fri
  • 9am - 1pm: Sat
New to our society
0345 166 9510*
Already a member
0345 166 9243*


The embedded asset does not exist:
Asset Type: YBS_Snippet_C
Asset Id: 1394658781091