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One Account with RBS
albionrovers
Posts: 2,028 Forumite
Hi
Is the One account a real genuine offset product? As opposed to a bank account with offset similarities?
If I have a 95K mortgage in my One Account and I have a balance owing of < 35K, is my balance > 35K safe ie. the amount I have overpaid?
Answers/opinions appreciated, thanks very much.
Is the One account a real genuine offset product? As opposed to a bank account with offset similarities?
If I have a 95K mortgage in my One Account and I have a balance owing of < 35K, is my balance > 35K safe ie. the amount I have overpaid?
Answers/opinions appreciated, thanks very much.
0
Comments
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IMO its a revolving credit facility not an offset mortgage. Thus its your balance that is the important figure.
I have a One account too, love it.
RBS is not going anywhere. They are very safe. There is a huge difference between an Investment bank going under and a UK clearing bank going under."Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.0 -
the IF offset account is better than the one account, much more flexible, you can have as many "jars" as you like attached to it so there is no need to have all you cash in one account to offset.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, So you need to take my word for it. This signature is here as i follow MSE's mortgage advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0
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