offset mortgages

anitame · 26 February 2018 at 3:10PM

does anyone know about offset mortgages? we have an offset variable rate tracker mortgage that is portable, we ported it to our current property in 2012. It was not without problems to do this and we had to make a complaint , which went in our favour. At the time we were told that existing borrowing would be at the "old" rate but any new borrowing would be at a higher less favourable rate. In the end it was all at the original "old" rate and we were told that any new borrowing would also be at this rate. Today I call to ask about porting and I'm told we can port but we will lose the offset facility, insert banging head against the wall emoji !! So my question is can they change it like that ?

getmore4less · 26 February 2018 at 3:23PM

Which lender?

anitame · 26 February 2018 at 4:31PM

C & G , does that make a difference ?

silvercar · 26 February 2018 at 7:00PM

Read the terms and conditions that came with the mortgage.

jackomdj · 26 February 2018 at 7:36PM

As above, read your terms. We have a C&G offset, which we have ported, increased and kept at the original rate (not much above base rate). Interested to know the outcome.