• Service update - due to planned essential maintenance our Online Service will be unavailable on Friday 28 January from 18:00 until Saturday 29 January 12:00.

  • Following the Bank of England’s decision to raise the Bank Rate by 0.15% to 0.25% in December 2021, Windfall Bond and Tracker Savings Bond rates increased by 0.15% from 1 January 2022. Tracker mortgages changed from 25 January and we have written to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. We will be considering our other savings and our variable mortgage rates after the Bank of England MPC meeting on 3 February. (Notice updated 19/01/22)

  • Please note that the Premium Saver (5) has now been withdrawn from sale. 
    If you have opened an account, you may add funds until 3pm, 7 February 2022, after this no additions will be allowed.

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.

Offset mortgages work in a similar way to traditional mortgage arrangements, except a savings account is attached to the mortgage. 

In particular, offset mortgages are suitable for those who have money set aside but don’t need to use it right away, such as savings earmarked for a wedding. They can also suit you if you’re self-employed and need some money set aside to pay tax twice a year.

If you have any questions please contact our New Business Team who will be happy to provide more information.

Do you already have a mortgage with us? If you want to borrow more or switch to another mortgage product we have a range of mortgage products available.

Please note: Our Offset mortgages may be suitable for you if you're able to utilise savings, or any excess income, to either reduce your monthly payment or pay off the mortgage more quickly. Savings held in the Offset Saver can be accessed easily, however withdrawing savings will reduce the amount you save on your mortgage payments, or change the time it takes to pay off the mortgage.

An offset mortgage may not be suitable if you do not have adequate savings or excess income to add to the Offset Saver.

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 calculator

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

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.

Case study

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

Frequently asked questions

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