List of offset mortgage providers linked to a current account

Weave

Hi

My offset mortgage deal with First Direct is due to end in January so I am looking for alternatives. I am finding most offset providers link to a savings account rather than a current account. The only ones I have found so far that link to a current account are:
First Direct
Barclays (No fixed rate option)
NatWest (currently only offer a terrible variable rate)

Have I missed any?

Offsetting against a savings account means any money sat waiting to pay bills in my current account is not offset which doesn't maximise the benefit.

Thanks.

fronty

I have a Barclays open plan mortgage, it is not fixed but mine is set for life at 0.75% above the base rate (I've had it for about 18 years now), it has been an incredibly cheap way to finance my house. I see that they are currently offering 1.74% + base rate, that still seems pretty good to me.

Why are you keen on a fixed rate when the variable rate is pretty competitive and you get all the advantages of offsetting? Is it because you are highly leveraged and can't afford a rate rise, because if you fix you might end up on a higher rate anyway (and then what happens at the end of the fix)?

fronty

By the way I saved about 8K in interest by stoozing a few years back, I had about 90K out on various credit cards all sat in one of my accounts offsetting my mortgage for a few years. Was great whilst it lasted, seems a bit harder these days with the demise of the Egg card (which was used as the cash gateway into my current a/c).

msn

Firstdirect have changed their requirements , no matter your affordability criteria or size of mortgage you must earn 50k+ for Firstdirect to offer you an offset mortgage product. This stung me when remortgaging.

getmore4less

Temporary offset funds don't save that much over the lifetime compared to other funds and with the rate differentials these days there a better option to offsets for many people.

Juggling ng money between accounts should be simple with appropriate standing orders.

msn

Hi

Coventry have a product 1.9% fixed for 5 years fee free.

Weave

Thanks for everyone's input.

It's the Cov BS that I think is quite attractive as a 5 year fix. I like the certainty at quite a decent rate.

I will just have to get back into the habit of monitoring my current account and sweeping any excess over to the offset account on a regular basis.

Cheers.