Offset Mortgages

housebuyer143

I am coming into a large sum of money soon and for various reasons I think an offset mortgage might be the way to go. 

Can anyone advise who is doing the best variable and fixed offsets at the moment?

Edi81

https://www.moneysavingexpert.com/mortgages/best-buys/

K_S

housebuyer143 said:

I am coming into a large sum of money soon and for various reasons I think an offset mortgage might be the way to go. 

Can anyone advise who is doing the best variable and fixed offsets at the moment?

@housebuyer143 The MSE mortgage best buys should give you all the products. If you want to filter for offset I don't think it lets you do that, the Moneyfacts one does

https://moneyfacts.co.uk/mortgages/best-mortgage-rates/

Just to be clear, I can't vouch for the completeness for either of the above.

housebuyer143

K_S said:

housebuyer143 said:

I am coming into a large sum of money soon and for various reasons I think an offset mortgage might be the way to go. 

Can anyone advise who is doing the best variable and fixed offsets at the moment?

@housebuyer143 The MSE mortgage best buys should give you all the products. If you want to filter for offset I don't think it lets you do that, the Moneyfacts one does

https://moneyfacts.co.uk/mortgages/best-mortgage-rates/

Just to be clear, I can't vouch for the completeness for either of the above.

Thanks. Looks like Barclays or YBS are the way to go which was my initial thought. 
Appreciate your help 👍

dimbo61

We have a Barclays offset mortgage and are currently fully offset.
We did have a five year fixed offset mortgage with YBS and I am a huge fan of Offset mortgages !
Many people will tell you the rates are not as good as Normal mortgages but for some people it works very well

housebuyer143

dimbo61 said:

We have a Barclays offset mortgage and are currently fully offset.
We did have a five year fixed offset mortgage with YBS and I am a huge fan of Offset mortgages !
Many people will tell you the rates are not as good as Normal mortgages but for some people it works very well

Thank you. I was thinking Barclays for the tracker offset or YBS for the fixed. Haven't decided what to do yet. 
I think it will work perfectly for us as we paid the mortgage off on our old place before and I felt frustrated that the money was tied up and hard to get out. 
This way we will fully offset from day one but have the money in case we choose to do something with it. Also better to offset it than to keep my money earning 1.4% interest, which is currently what the majority of my savings are doing. 

The rate is 0.5% higher but that's not really a problem if you plan to offset all or most the balance relatively quickly.