Is Britannia offset @ 5.49% a good deal?

smartsaver

We have been offered an offset mortgage at 5.49% which tracks the bank rate @ 0.74%. Can anyone advise if this is a ggod deal? :-/

I wanted to take out their flexible mortgage but have been advised the offset is better as is the same interest rate and offset funds can be accessed immediatly with a cash card, flexible funds take 2 weeks to access. Any advise or forseeable pit falls welcome. I want to use my stoozing funds which averages £70 - 80.000 on an £88.500 mortgage

Thanks in advance

payless

£70K + on credit card
how long do initial rates last / what rates

what happens if you can't renew?

smartsaver

£70K + on credit card
how  long do initial rates last / what rates

what happens if you can't renew?

80k on lots of cards @ 0% for varying lengths. Cards held between me & Mr Smartsaver  8). If I can't renew I pay them off as money is stashed in Cahoot at 5.65% but will soon be offsetting my mortgage  ;)

RIP_N_OFF

I have the Britannia savings offset mortgage with almost £50k of credit card money offset against it.

It works well for me and the rate works out slightly better after two years when the membership rewards scheme kicks in.

Hope this helps.

smartsaver

Thanks CCKid