More information on Offset Flexible Mortgage

A flexible mortgage that changes with your financial needs.

Good and flexible because you:

• can make extra payments ¹
• can easily access your extra payments if needed later
• access extra money, if needed
• can make lower payments (but interest will still accrue)
• can take a payment holiday, though this may affect the level of your later payments
• may be able to pay off your mortgage earlier ², without charge
• can offset current and savings account balances to pay less interest on your mortgage
• keep your mortgage if you move (no need to close your old mortgage and reapply)
• borrow at the same rate as your offset flexible mortgage, though additional borrowing will be secured on your home and may increase the overall amount you pay

Please read this important legal information

Great if you're a sole trader or partner*, because:

You will be able to take advantage of the money in your business account to offset your personal mortgage.

How? It's simple. Instead of earning interest on your business accounts, you don't pay interest on the equivalent amount of your personal mortgage.

Offset Rates Available as of 7th July 2008

Above rate based on a capital and interest repayment mortgage of £100,000 over 25 years on a property worth £150,000. Minimum loan £30,000.
Arrangement fee: £1,499, estimated valuation fee of £250, estimate legal costs of £500, remitance fee £30. If you are remortgaging we will give you a free valuation if you use our nominated valuer and we will pay for out standard legal work provided our nominated solicitor is used. We will pay our legal fees for standard remortgaging only, provided our nominated solicitor is used.
Updated 7th July 2008.

If you've arranged a higher facility than you are actually using, you only pay interest on the amount you actually borrow.
Interest is calculated on a daily basis and applied monthly. Interest periods will be approximately monthly.