Abbey Flexible Offset Tracker

pjc16wg

Afternoon Money Savers

Does anyone have any experience of the Abbey Flexible Offset mortgage - see here? For example does the account allow you to have separate current and savings accounts? The Abbey web site is not as informative on this as, say, the First Direct site.

Thank you

taxi73

Hi there I have that mortgage.It is not related to a current account at all...it comes automatically with a savings pot as anything you overpay actually sits in the savings pot offsetting the interest on the mortgage.
I have my current account with a completely different bank.
I have the Abbey mortgage set up online and just put whatever I want into it at anytime via online banking .The interest is calculated daily as well and mines a tracker as well 0.49% above BOE rate for life..I quite like this mortgage so far.I only got mine in May and find it great as if I need to take any money back(hopefully I won't) then it should take a day to get back to me but haven't tested that theory yet..lol

Spangled

The Abbey deal seems really expensive: BR +1.23% and a *£1,499* fee! First Direct is way cheaper.

taxi73

Mine was a bargain when I got it...gosh that is expensive x