mortgage question

jimthebin

Due to renew my mortgage this year and was wondering if it would be worth trying the one account and would like to hear from anyone that has

Regards

Jim

Rafter

Jim,

If you have irregular amounts coming in and large amounts of savings it might be worth it, otherwise a flexible discount mortgage might be cheaper.

Several providers offer offset mortgages these days - often at better rates than the one account.

Worth checking out Woolwich Open Plan, First Direct and IF as alternative providers to the one account.

A lot of banks and building societies will allow you to link a savings account to a mortgage, if you don't want to go the full step to a current account mortgage.

R.

Maid_of_Kent_3

The rate on the One Account is dependent on the value of your house against the amount of facility you want.

I have had this account for 7 years and have found it brilliant. But you have to be disciplined. It is no good thinking that you can live to the limit of your facility just because it's there - you still have to pay off your mortgage sometime.

Rick62

The OneAccount generally has a really poor rate of interest. I only recommended it once the whole of last year (client had particular requirements). For Offset I like Intelligent Finance, or Standard Life have some good products, or some of Northern Rock and Alliance & Leicester products (but not all) have good flexible features, AND good rates.