One Account or Barclays Offset Tracker

ixwood

First direct are doing much better deals on offset mortgages at the minute. And their customer service really is brill.

getmore4less

We did have a problem getting our offset with barclays/Woolwich setup but that was local branch not realising that ALL the offset accounts needed the same sort code since then everything has been fine, handy thing is you can have multiple accounts in different names and offset cash ISAs.

Bottom line is cost/convenience. once set up , observe on-line and get monthly statements so no problems.

Allthough you can split/mix products I don't know of any lender that allow part offset.

ixwood

All offset accounts can be part payment if you like. You just have to set whatever capital repayment amount you want.

I'm changing from Openplan/barclays. The FD deals are much better IMO. And they have friendly Uk call centres, not indian like Barclays.

getmore4less

ixwood wrote: »

All offset accounts can be part payment if you like. You just have to set whatever capital repayment amount you want..

That you can do, vary the payment shedule , but what I have never seen is the ability to mix products with and offset which is what was suggested in a previous post.

There may be no need to choose between the Barclays offset and flexible options. You may be able to split your mortgage into two parts, one offset, the other flexible. Say you want up to 50,000 of immediately available cash in an offset account, you could go with 50k offset mortgage and 175k flexible. Put the savings into the offset account and put the initial overpayments into the offset account until fully offset, then switch to overpaying the flexible one now the offset account is full.

jamesd

One thing I didn't know about the Barclays offset mortgage: you can offset up to four current accounts. So it's really a current account mortgage but at offset account pricing. That eliminates many of the remaining cases where the One Account could be best.