virgin one mortgage

justmeklg

My current mortgage ends in july and ive had a quote from virgin one - the account that you put all your money in to reduce the interest on the mortgage, therefore paying it off more quickly - can anyone advise if they have this account? is it what it says on the tin? anything you regret, should have asked etc? should i do it this way?? HELP - im new to this!

kath

gordano_2

What interest rate are they offering you? You may find that the net overall cost is higher with a one account ... depends on what deals are available. My advice is speak to a good mortgage broker (find one that is well recommended), then see what deals they can find you.

StuartGMC

Kath
An offset mortgage is typically the generic term, they differ in aspects of "one" accounts which show you in debt all the time but give a lot of room to maneuver (I think popular for self-employed) or "several" accounts which combine together (e.g. current a/c, savings a/c, Cash ISAs - and it can be a combination of several of each type depending upon the lender.

I think there is a thread on the One Mortgage on the mortgage forum which may be worth reading?

RosieTiger

I have used them in the past - always felt they were a very good bank.