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Barclays Offset Mortgage
socrates
Posts: 2,889 Forumite
Family member is looking at this mortgage.
His house value is £600k - no mortgage o/s. His objective is to obtain an offset mortgage with a draw down facility of 70%.
His broker (a friend) has suggested Barclays Offset
BBBR + 2.49% variable for the term £1499 fees - which includes everything apparently.
It seems a decent mortgage but in my opinion this Barclays (Woolwich) mortgage is not very easy to administrate. This is based on previous experience.
Any other suggestions?
His house value is £600k - no mortgage o/s. His objective is to obtain an offset mortgage with a draw down facility of 70%.
His broker (a friend) has suggested Barclays Offset
BBBR + 2.49% variable for the term £1499 fees - which includes everything apparently.
It seems a decent mortgage but in my opinion this Barclays (Woolwich) mortgage is not very easy to administrate. This is based on previous experience.
Any other suggestions?
0
Comments
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but in my opinion this Barclays (Woolwich) mortgage is not very easy to administrate. This is based on previous experience.
My experience is once set up they are great to administrate.
what went wrong with yours?
As for being the best current product that's a different question0 -
getmore4less wrote: »My experience is once set up they are great to administrate.
what went wrong with yours?
As for being the best current product that's a different question
I can only talk about my personal experience but it was in the "Woolwich days"
Which other products should he be looking at?0 -
First direct : probably the best value most of the time currently low fees.
Yorkshire building society : offset plus, family & friends offsetting, is a feature some find usefull
avoid oneaccount too many bad stories.0 -
getmore4less wrote: »First direct : probably the best value most of the time currently low fees.
Yorkshire building society : offset plus, family & friends offsetting, is a feature some find usefull
avoid oneaccount too many bad stories.
I did look at FD - however even though the fees are amazing - the intro rate finishes after a period of time as does Yorkshire - whereas Barclays rate is for the whole term - correct me if I am wrong.0 -
FD do lifetime offset trackers
eg.
http://mortgages.firstdirect.com/mortgage-products/product/base-rate-tracker-offset~30 -
the fd one is far better than the ybs one
fd treat it as an interest only mortgage and it is much more flexible
ybs treat as a repayment mortgage and does not seem to allow the same flexibilities
we have the fd term tracker with no erc and only £99 fees0
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