Which lenders offer offset mortgages?

Deedoodee

Which lenders have them? How do I find them? Tried searching and get lots of explanations of what an offset is but can’t see the product

Thanks 

housebuyer143

Ybs generally do the best fixed rate offset while Barclays do the best tracker. 

There are really very few who offer them.

ACG

Accord (part of YBS) and Coventry I think are the 2 biggest. 
There are a few other lenders but they are usually quite small lenders.

amnblog

There are about half a dozen Lenders offering offset mortgages currently. those mentioned above, plus, Clydesdale Bank, Family Building Society, and Scottish Widows Bank.

They are not the type of product that is sensible to apply for without the services of an independent broker.

Deedoodee

amnblog said:

There are about half a dozen Lenders offering offset mortgages currently. those mentioned above, plus, Clydesdale Bank, Family Building Society, and Scottish Widows Bank.

They are not the type of product that is sensible to apply for without the services of an independent broker.

Thanks. Why is not sensible to apply for without going through a broker? 

amnblog

Because they are complex product that are priced at a premium over standard products. Therefore, good advice is essential.

Deedoodee

amnblog said:

Because they are complex product that are priced at a premium over standard products. Therefore, good advice is essential.

Thanks. I’ll consult a broker first. Are there any particular pitfalls? I know the interest rates are higher and I’ve worked out the extra cost and interest lost against interest saved. 

housebuyer143

Deedoodee said:

amnblog said:

Because they are complex product that are priced at a premium over standard products. Therefore, good advice is essential.

Thanks. I’ll consult a broker first. Are there any particular pitfalls? I know the interest rates are higher and I’ve worked out the extra cost and interest lost against interest saved. 

That's it then really. As long as you have worked out out and you are happy then I don't see a problem. YBS is direct only so you can't use a broker fyi, but they have advisors who you will need to speak to prior to applying which will let you know if it's suitable.

amnblog

housebuyer143 said:

Deedoodee said:

amnblog said:

Because they are complex product that are priced at a premium over standard products. Therefore, good advice is essential.

Thanks. I’ll consult a broker first. Are there any particular pitfalls? I know the interest rates are higher and I’ve worked out the extra cost and interest lost against interest saved. 

That's it then really. As long as you have worked out out and you are happy then I don't see a problem. YBS is direct only so you can't use a broker fyi, but they have advisors who you will need to speak to prior to applying which will let you know if it's suitable.

..and what will the YBS Adviser tell you about deals from other providers in the market?

housebuyer143

amnblog said:

housebuyer143 said:

Deedoodee said:

amnblog said:

Because they are complex product that are priced at a premium over standard products. Therefore, good advice is essential.

Thanks. I’ll consult a broker first. Are there any particular pitfalls? I know the interest rates are higher and I’ve worked out the extra cost and interest lost against interest saved. 

That's it then really. As long as you have worked out out and you are happy then I don't see a problem. YBS is direct only so you can't use a broker fyi, but they have advisors who you will need to speak to prior to applying which will let you know if it's suitable.

..and what will the YBS Adviser tell you about deals from other providers in the market?

My point was YBS often have the best deals and you can only go direct, so if that's the one the OP wants to go with then they definitely shouldn't use a broker 

Deedoodee

amnblog said:

housebuyer143 said:

Deedoodee said:

amnblog said:

Because they are complex product that are priced at a premium over standard products. Therefore, good advice is essential.

Thanks. I’ll consult a broker first. Are there any particular pitfalls? I know the interest rates are higher and I’ve worked out the extra cost and interest lost against interest saved. 

That's it then really. As long as you have worked out out and you are happy then I don't see a problem. YBS is direct only so you can't use a broker fyi, but they have advisors who you will need to speak to prior to applying which will let you know if it's suitable.

..and what will the YBS Adviser tell you about deals from other providers in the market?

Would a broker tell us about YBS is it’s direct only? What makes them more complex besides the interest offset vs interest opportunity cost?