one account offset mortgage competitors?

anskills

Hi,

Currently researching offset mortgages, most notably from the one account, just wondered what other options were available for a higher rate tax payer with 50% LTV? Would like info on available rates and flexibilities/pro's & con's

Thanks,

Kevin

dimbo61

First Direct if you want a tracker rate and YBS if you want a fixed deal

ACG

Im sure Accord do an offset account.

Good to see your looking into an offset as a higher rate tax payer, not many do.

anskills

ACG wrote: »

Im sure Accord do an offset account.

Good to see your looking into an offset as a higher rate tax payer, not many do.

do you think there is any particular reason for this? i'm just reviewing at present, but i think i'm going to go for it. there are quite a few choices nowadays, all with features i like, but i'm not sure there is the perfect one for me out there! i don't mind tracker, variable or fixed, i'm just concerned where we may be at in 5 years time at the end of a fix and how easy it may be to move to another deal.

ACG

Thats the risk :P

Im presuming you know the benefits of an offset for yourself? (less tax etc?)

I DID have a calculator somewhere that worked out the cost of a mortgage over x number of years and what it would cost using an offset compared to another mortgage you put entered in the comparison.

You need to look at whats on offer really on both an offset and fixed/variable/discounted. You can then try to work out what each will cost over the next few years and decide which you would prefer to go down.

Sorry i am kind of sitting on the fence here but its down to your circumstances which dictates what option you should go with.

getmore4less

The tax side of offsets is one of the lesser consideratons.
If you don't need the flexability just paying off a cheaper mortgage saves even more.

Long term filling ISA's can still be a better option.
(conveniently Barclays allows this but the deals are n always the best)

Start with what you want from your offset and narrow down those that give you the facilities you need/want.

The one account is probably one with the least options/facilities.

In most cases the cheapest tracker you can find will work out cheapest long term only changing if you find a cheaper tracker. That works for offsets as well.

Offsetting with portabliity can become a valuable moving house combination if you can keep any future borowwoing within the limit by saving a lot in the offset