Offset Mortgages

Whether you already have an Offset Mortgage or you'd like to know how they work, our handy guide can help

Important information - Please note we do not currently offer offset mortgages for Buy to Let.

What does offset mean?

Put simply, it's a way of combining your savings with your mortgage. The way it works is simple - by moving some of your savings into a special Offset Savings Account, instead of earning interest, your savings reduce the amount of interest you pay on your mortgage.

You can choose to either:

icon image

Reduce the cost of your current mortgage payments
icon image

Reduce the cost of your mortgage payments in the future
icon image

Reduce the term of your mortgage

What are the benefits?

  • You can overpay, underpay or take payment holidays (interest continues to be charged during payment holidays).
  • You retain the option to switch between reduced current payments, reduced payments in future years or reduced term.
  • You can take your Offset mortgage deal with you if you move home.
  • You can open up to 3 separate Offset Savings Accounts, linked to your mortgage.

Combining your savings and mortgage

Your Offset Mortgage Account and your Offset Savings Account remain separate, so you'll always have instant access to your savings. However, they are linked because you only have to pay interest on the difference between the amount in your savings and the amount of your mortgage. This means that the more you save, the less interest you'll pay on your mortgage.

What's next?

I already have an Offset Mortgage

Login to your online account to view your Offset mortgage and any linked Offset Savings Accounts.

You can view your balance and account statements, transfer money and arrange regular payments and standing orders.

I don’t have an Offset mortgage

If you don't have an Offset Mortgage but you are interested in switching to Offset when your current deal runs out, you can read our guide to changing your mortgage deal:


Your property may be repossessed if you do not keep up repayments on your mortgage.


Useful information

Our downloadable guides have all the information you need on our products, how to manage your account and much more.

View all literature


Important things to remember

  • We only offer our own products

  • You can obtain an illustration on any product you may be eligible for by calling us on:  
    0345 1200 891