Offset personal loans

flashnazia

does anyone know if there is such a thing as an offset loan(not mortgage)?
I'm trying to help my mum buy her council house and a mortgage in my name may be difficult as my name can't be on the deeds. Anyone know how I can get around this. I only need 25k.

Thanks in advance.

flashnazia

Can anyone help here please?

assistance will be greatly appreciated..

Nazia

Turtle

I'm not sure. first direct do what they call an offset loan, but it is infact something you can only get if you have an offset mortgage, and is therefore secured on the house. On the bright side, its a lower rate than you'd probably get on an unsecured loan, interest is calculated daily and charged monthly and there's nopenalty for early repayment\overpayment. Hope this helps a bit

flashnazia

Thanks for the info. I don't think there are any unsecured loans. It's a shame because I think offset mortgages are a great idea.