Does no lender now offer competitive rates for offset, or even offset at all? First Direct?

IAMIAM

I cannot find any. It seems scottish widdows and first direct no longer do...

In addition, is there any point in First Direct, every product they offer is really not competitive at all. 

silvercar

Coventry does, or at least they did. I think Barclays and Yorkshire also do/ did.

housebuyer143

Barclays do trackers and YBS do fixed. There are not many around.

amanda1024

Have rates for offset ever been competitive? I’ve looked at them each time I approached the end if a fix, but they’d always have ended up costing significantly more than a standard fix. 

Hoenir

What's a competitive rate? 

silvercar

amanda1024 said:

Have rates for offset ever been competitive? I’ve looked at them each time I approached the end if a fix, but they’d always have ended up costing significantly more than a standard fix. 

They used to be for sure. I’m on a tracker but it dates back to early noughties. 

amnblog

Offer mortgages are typically offered with tracker rates. Tracker rates are currently well above fixed rates, hence the offsets mortgages do not look competitive. They are of value only if you intend to extensively use the offset facility.

Archerychick

First direct do have an offset mortgage still.  

I’ve been a FD customer for years on various fixed rate deals and I’ve always found them really competitive plus that fact that you can make unlimited repayments is very handy. 

IAMIAM

Not for new customers and rated are terrible for existing customers 

staffie1

I’ve just taken one out with Coventry.

silvercar

Remember that if you intend fully offsetting the mortgage balance, you won’t be paying any interest, so the rate is immaterial.