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Offset mortgages

Our Offset mortgages allow you reduce the amount of interest you pay by offsetting your savings against your mortgage.

See all Owner Occupier Offset mortgages See all Buy to Let Offset mortgages
The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

At Family Building Society we can assist with a mortgage if you are moving home or would like to raise some equity by re-mortgaging your existing property. The minimum property value we would consider is £120,000 in England and Wales.


An Offset mortgage works in a similar way to a standard mortgage. However, it has an additional feature known as an Offset Saver savings account. This savings account is linked to the mortgage. The amount of money in the Offset Saver savings account is deducted from the mortgage on which interest is charged.

You can choose to offset your savings to either reduce your monthly payments or reduce the term of your mortgage.


How does an Offset mortgage work?

Find out how you can offset your savings against your mortgage.

Offset Saver account

The Offset Saver is linked to our Offset mortgage. Up to four Offset Saver accounts can be linked to an Offset mortgage, but each savings account may not be linked to more than one Offset mortgage.

Offset mortgage enquiry form

Answer three quick questions and we will get back to you to explain how an Offset mortgage could work for you.

Offset mortgage calculator

Use our Offset mortgage calculator to see how your savings could reduce your mortgage term or monthly payments.

Frequently asked questions

You probably have lots of questions about how an Offset mortgage works. See answers to the most common questions here.

Case study

Read our case study and see how the Offset mortgage works in reality.

Who can apply?

You can apply if you are aged 18 or over.

How do I apply?

  • Step 1 - Start by contacting our New Business Team on 03330 140140 or by using the Call Me Back form. They’ll go over some basic information with you including how much you would like to borrow and what for. They’ll need to know about your income and outgoings to make sure you can afford the mortgage and they’ll check that the mortgage meets our lending criteria.
  • Step 2 – After our New Business Team have reviewed your circumstances, they’ll refer you to our Mortgage Advice Team who will go through your circumstances in detail and recommend a suitable product. This advice is free of charge from our in-house team, or you can choose to use your own adviser (they might charge you for this).
  • Step 3 – Submit your application along with any supporting documents (there is a list of what’s required on our application form) and the  Application Fee along with any valuation fee which may apply. There will be further fees associated with the product selected.
  • Step 4 – Once the application has been assessed a valuation will be carried and then it will be underwritten and we will provide you with a Mortgage Offer. A copy of this will also be given to your nominated Solicitor who will contact you with some forms to be completed.
  • Step 5 – Once your nominated Solicitor has carried out the necessary searches and received the forms back from you we can arrange to send you the funds (this is called “completion”).


Any questions?

If you have any questions and are unsure what mortgage product would be suitable for you, you can arrange an appointment or speak to a New Business Representative. You can get in touch in the following ways: 

Email us Call us on 03330 140140 Request a call back

When you submit your application there is a £175 Application Fee. There will be further costs associated with the application which will be explained to you when you contact our New Business Team and by our Mortgage Advice Team.

Usually between 12 and 16 weeks.

Our current interest rates can be found on here.

We’ll send you a Mortgage Application Form and a Savings Application Form after you’ve spoken to our Mortgage Advice Team.

When the application is received from you.

Only if the property value is above £500,000 which is paid with the application fee.
  • Application fee £175
  • Product fee (to be confirmed)
  • Valuation fee if applicable
  • Solicitor’s fee
Yes, we do and there is no charge for their advice.
Yes, we do, we will consider their retirement income.