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Offset mortgages

Put your savings to work with an offset mortgage

Linking savings accounts to an offset mortgage could make your money work harder by reducing the mortgage balance you pay interest on.

  • You could save thousands of pounds in mortgage interest
  • Use the savings to reduce your mortgage term or monthly payments
  • Keep instant access to your savings, which you’ll no longer have to pay tax on

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

What is an offset mortgage?

An offset mortgage links your current and savings account balances to your mortgage in order to reduce the mortgage balance you’re charged interest on. So, if your mortgage balance is £125,000 and you have £25,000 in your linked current and savings accounts, we’d calculate your monthly mortgage interest on £100,000 instead of the full mortgage balance of £125,000.

You can use the offset savings in one of 2 ways:

Reduce your mortgage payments

The interest you save in one month by offsetting could reduce your mortgage payment the following month.

Reduce your mortgage term

Keep your monthly mortgage payments the same and pay off your mortgage sooner.

Is it right for you?

An offset mortgage could be right for you if:

See our offset mortgage videos to find out how other people have used offset mortgages to save money.

How much can you borrow?

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

How to apply

Find out whether we’d be willing to lend to you in a matter of minutes through an Agreement in Principle. We’ll just ask you a few simple details about yourself, your income and regular spending. An Agreement in Principle doesn’t guarantee you’ll be successful – but it can help you get an idea of what we could lend you for a mortgage. You can get started online, call us or book an appointment in branch.

Get started online

Book an appointment

Call us on 0333 202 7573 1

Visit a branch

Our current rates

This table outlines what the initial interest rate will be, as well as the follow-on rate, the amount you can borrow and any application and early repayment charges. You can sort any of the columns by selecting the column title.

You can save a copy of our tariff of charges and read our important legal information.

Are you a Premier customer? See our exclusive mortgage range.

The current mortgages data is unavailable. A complete list of all mortgage rates is available for download here.


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Product name

Initial interest rate

Follow on interest rate

Overall cost for comparison

Loan to value

Mortgage fee

Early repayment charge

*BBBR means the Barclays Bank Base Rate, which is currently 0.50% (effective 6 March 2009).

Need some help?

If you have a question about mortgages, choose how you’d like to get in touch. You can also browse our mortgage FAQs . If you want help choosing the right mortgage for you, you’ll need to call us to speak to a mortgage adviser. 

Talk to us online

Call us on

0800 197 10812

Visit a branch

More ways to buy your home

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Tracker mortgages

Take advantage of the current low base rate with our range of tracker mortgages.

Family Springboard

A way for families to help you get on or move up the property ladder.

Important information

Subject to status and availability. You must be 18 years old or over to apply for a mortgage.

  1. Lines are open Monday to Friday, 8am – 6pm and Saturday 9am – 5pm. To maintain a quality service, we may monitor or record phone calls. Call charges
  2. Lines are open Monday to Friday, 8am – 9pm, Saturday 9am – 8pm and Sunday 10am – 4pm. To maintain a quality service, we may monitor or record phone calls. Call charges