Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

CREDIT REPORT SERVICES AND ONLINE EXPERT HELP ARE FULLY OPERATIONAL - PHONE LINES ARE CLOSEDCOVID-19 STATUS

ONLINE SERVICES FULLY OPERATIONAL
PHONE LINES ARE CLOSEDCOVID-19 STATUS

Offset Mortgage

What is an Offset Mortgage?

An Offset Mortgage allows your savings to be factored into your mortgage and reduce the balance of your mortgage overall. To do this you must have a savings account and a mortgage with the same lender.

The concept took off in the early nineties, with two basic types of offset deal. The first offset mortgages launched in the UK were current account mortgages (CAMs), linking a homeowner`s current account with the mortgage. The second type of offset is where the deposits are kept in separate accounts or 'pots', but linked for the purposes of interest calculation.

With an offset mortgage you are given the option of lowering your monthly repayments, or reducing the amount of your mortgage overall. It is up to the borrower to decide which makes most financial sense for their circumstances overall.


Q: What are the drawbacks of an Offset Mortgage?

A: The main disadvantage of an offset mortgage is that you will not gain any interest on your savings. However, considering the low interest rates at the moment and taking into consideration that tax may have to be paid on top of any money saved, some find the benefits outweigh the drawbacks.

Jargon Buster

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