Best Offset mortgage?

Get_On_MASSIVE

I'm looking for the most competitive offset mortgage I can find. I thought there would be plenty of comparison sites on the internet but I've googled and I can't find any.

Has anyone got a link to such a site or any advice or recommendations?

macca64

I would take a look at stoozing.com, they have a table on the site which lists offset mortgages.

Joannaclaire

A & L have a flexible tracker mortgage - so similar to an offset for 2 years currently at (I think) 4.37% (but you'd just have to overpay, rather than offset as such, but you can take out your overpayents again so v similar to an offset) and Abbey have an offset which is base plus .5 for life.

MyUserNamesTaken

Woolwich is offering an Offset tracker at 0.59% above base rate for the term of the mortgage. It doesn't beat Abbey's rate, but they fast track 25% LTV or less applications. It doesn't seem to be mentioned on stoozing.com.

Robert_Sterling

Stooz website quotes 10 lender offering off set mortgages.

If do a two year fix at base rate + .44% i.e. 4.94%
Arrangement fee £199.
This is for LTV 60% or less. Higher for Higher LTV.
This look OK to me.
As always the ratio of your outstanding mortgage to the amoun off set from other account is one of the critical factors.

YorkshireBoy

Get_On_MASSIVE wrote:

I thought there would be plenty of comparison sites on the internet but I've googled and I can't find any.

Has anyone got a link to such a site or any advice or recommendations?

Scroll up to the "Mortgage Price Comparison" link in the blue box above, or click here...

http://www.moneysavingexpert.com/mortgages#comparison

Get_On_MASSIVE

Thanks for the replies everyone, I'm especially interested in Joannaclaire's A+L recommendation.

I'd appreciate if someone could give me some advice off the top of their head.

My Situation

My current mortgage deal is that I've borrowed 100k and I'm paying 5.99% in an interest only mortgage but I'm locked in until Aug 2006.

If I paid the get out fee it would cost me £850.

I'm looking for another 100k mortgage but I have 45k in a savings account in which I get 4.3% net interest.

I hope to have enough money or as near to it to be able to pay it all off in about two years.

Any tips or advice? Should I stay with my current deal until Aug or switch now?

pipee

Try the Newcastle BS which is 0.5% above base for term with no fees

http://online.newcastle.co.uk/mortgage/offset/index.htm

I have this mortgage with them and they have been excellent so far. The only charge to set it up is a £30 bank transfer fee, everything else they take care of.