Moving from Offset Mortgage

wensleydaleuk

Hi,

Has anyone had any experience of moving from an offset mortgage? Obviously you need to change both mortgage and current account, but is it advisable to change one at a time or both at once?

I've realised as I don't have huge savings I'm paying way over the odds and could get much better deals elsewhere!

Many thanks

mattyh

Don't worry it's not as complicated as you may think

We moved from the one account last year. The key is to get your current account sorted first. Sign up to a new current account (we went with Smile, all done online, no problems) get them to start moving your direct debits across (that'll take weeks) and get your salary paid into their. Make sure you keep paying enough into your offset mortgage to cover interest or whatever they require.

Once you're settled with a new current account and your offset mortgage just acting like a normal mortgage, then you can change mortgage provider in the 'normal' way.