We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Staff Mortgages and Benefits in Kind
Comments
-
As ex RBS group staff I can categorically say the subsidy deal is better. You get the equivellant of 2% off the rate of the mortgage, paid back to you in your gross pay, taxed as PAYE. Its applicable to the first £75k ish of the mortgage, the net benefit after tax is about £80 a month....
Just to clarify, this 2% rate discount, is an old NW staff deal.. They had some unbelivable staff perks. The RBS staff house purchase scheme deal was 5% fixed for life of the mortgage up to £50k, Some older members of staff will have an even lower rate. However this was taxed as a benefit in kind. I had this type of mortgage for 10 years and it was a rip off. I should have left it much earlier, in any case these benefits are no longer avaliable for staff. if taking out a new mortgage0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards