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Offset Mortgage Comparisons

Options
Does anyone know of any comparison sites/tools for offset mortgages?  My fixed term comes to an end next year and I'm in the lucky position of having enough savings to fully offset the mortgage balance (but would prefer not to just pay the balance off in full) but I'm really struggling to find anything that shows the options available. 

Thanks in advance. 

Comments

  • housebuyer143
    housebuyer143 Posts: 4,254 Forumite
    1,000 Posts Third Anniversary Name Dropper
    There are not really many lenders. Yorkshire building society does good fixed ones and Barclays the best trackers last time I looked. If you are fully offsetting it, I don't suppose it matters the rate, but look at those.
  • jlfrs01
    jlfrs01 Posts: 291 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    Yorkshire BS has a subsidiary called Accord Mortgages but they only go through Brokers. I have a 5 year fix at 2.15% I took out 18 months ago. My experience has been very favourable but I don't know how competitive their rates would be now. I used a company called "The Mortgage Brain" and it was one of their recommendations.
  • Angelina1
    Angelina1 Posts: 41 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Just got an offer from Yorkshire BS for an offset.  We applied directly through them.   There is very little choice for offset mortgage.  If you go through a broker, it could be an Accord one, which is the same one from Yorkshire BS.
  • amnblog
    amnblog Posts: 12,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    When are you looking to compare? There are now only a handful of Offset Lenders on the market.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • jen_fpb
    jen_fpb Posts: 45 Forumite
    Second Anniversary 10 Posts Name Dropper
    Does anyone know of any comparison sites/tools for offset mortgages?  My fixed term comes to an end next year and I'm in the lucky position of having enough savings to fully offset the mortgage balance (but would prefer not to just pay the balance off in full) but I'm really struggling to find anything that shows the options available. 

    Thanks in advance. 
    Did you get anywhere with this?

    Currently 6 months into our current mortgage but looking to pay the ERC and move to a 100% offset. 

    London and Country brokers who we usually use say its not worth it but they are comparing over 2 years only and adding fees. Yorkshire BS has no fees and over the long we feel we will be better off.
  • silvercar
    silvercar Posts: 49,513 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    edited 4 June 2024 at 10:23PM
    https://www.moneysavingexpert.com/mortgages/offset-mortgage-calculator/

    If you google ‘ offset mortgage finder’ most of the usual comparison sites come up.

    If you have an interest only mortgage that is fully offset, you have no monthly repayment. If you have a fully offset repayment mortgages, you pay the capital element only. Some lenders will give you the option of paying monthly as if you weren’t offsetting and the excess used to reduce the capital owed.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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