morgage ............ a mine field.. Help

cally2659

Can some body please help and advise me on the One Account for morgages...
I feel rather stupid but what are they about and are they really what they a cracked up to be !!!!!!!!!!!!!

Conrad

They pay Brokers 0.6% commision where as norm is c.3%. Mmmmmmmmmmm.

The only people who go for this are those detailed / academic types who know the price of everything and the value of nothing

Conrad

They pay Brokers 0.6% commision where as norm is c.3%. Mmmmmmmmmmm.

The only people who go for this are those detailed / academic types who know the price of everything and the value of nothing

tyllwyd

Have a look at the Mortgage free Wannabee board - there are several threads there.

silvercar

oneaccount is an offset mortgage. All your savings are offset against your borrowing. beneficial if you have a lot of savings.

read the sticky thread on offset mortgages.

oneaccount may be the most well known but there are now a lot of offset mortgages available. check the rate you will be getting.

Rick62

I think Offset mortgages can be great, however the OneAccount is usually rather expenseive and does not usually, in my experience, offer good value. Technically it is also not Offset, but is like a big overdraft.

If you have savings, or irregular income, or are self-employed then it is worth thinking about. A number of lenders have either full offset or full flexibility at prime rates or within 0.25% of best rates.

jamesd

Those who have the One Account mortgage tend to like it a lot and by all accounts the service is excellent. The only problem is the price. It has very high interest rates. That means that most people who do not have say 60% of the mortgage amount moving into and out of their account each month can get a better deal with a conventional offset mortgage. Even in the current account mortgage field they are beaten by 0.5% or more by several other providers.

Great features, I'd like one, I'm not willing to pay the interest rate to get it.