Tag: offset mortgage

Leeds Building Society reduces offset mortgage rate

Leeds Building Society reduces offset mortgage rate

Leeds Building Society has announced a reduction in the rates on its Direct Only Offset 2 Year Discount mortgage by up to 0.25 per cent. The building society’s 75 per cent loan-to-value offset mortgage now offers a rate of 2.65 per cent. In order to help customers with upfront costs, the building society has launched [...]

December 6, 2011 | 0 Comments More
Barclays celebrates offset anniversary with rate cut

Barclays celebrates offset anniversary with rate cut

Barclays is celebrating the tenth anniversary of the UK’s first offset mortgage. The bank’s Woolwich subsidiary took the plunge in June 2000 and the lender claims it has saved borrowers more than £1 billion in mortgage interest over the years. The average Woolwich offset mortgage stands at £132,000 and customers typically keep £21,000 in their [...]

June 2, 2010 | 0 Comments More
Offset mortgages outdo Isa returns

Offset mortgages outdo Isa returns

first direct is advising homeowners that using savings to offset their mortgage could leave them better off than investing in an Isa. Research from the lender shows that over the past 10 years, putting money into an offset product could have produced a better return than investing in the tax-free Isa, with the difference amounting [...]

May 6, 2010 | 0 Comments More
Britons fail to understand the offset mortgage

Britons fail to understand the offset mortgage

The benefits of offset mortgages remain a mystery to many, as first direct reveals that 40% of homeowners questioned don’t understand how they work and a further 35% only have a rough idea. Concerned that borrowers are missing out, first direct is encouraging homeowners to get to grips with offsetting because in some cases the [...]

November 24, 2009 | 0 Comments More
Offset mortgages more popular as savings rates dwindle

Offset mortgages more popular as savings rates dwindle

Uptake of offset mortgages is rising as savings rates dwindle. According to HSBC-owned lender, first direct, new offset mortgage business rose 16% in the final quarter of last year. The firm asserts that swapping to this type of home loan can reduce the length of a £100,000 25-year mortgage by 33 months and save £18,322 [...]

May 20, 2009 | 0 Comments More