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Understanding our Flexible Offset mortgage

Make your savings work harder for you

Our Flexible Offset mortgage offers a great way of using your savings or monthly overpayments to reduce the amount of interest you pay on your mortgage. This can save pounds in mortgage interest, be tax efficient and you could pay off your mortgage early.

View Flexible Offset deals



How does it work?


Saving pot  -  a Flexible Offset mortgage allows you to use your savings to reduce the amount of mortgage interest you pay each month, saving you pounds in mortgage interest and could take years off your mortgage term.


For example:

  • If you have a £200,000 mortgage and £10,000 in your savings pot, you would only pay interest on a mortgage balance of £190,000.
  • This effectively means your £10,000 savings are earning the same interest rate as you are paying on your mortgage.

And when you compare with current interest rates on standard savings accounts, you can see how a Flexible Offset mortgage could make your money work harder for you.


So whether you have savings or just want to make overpayments when you can, a Flexible Offset mortgage could be the right mortgage for you.




Tax efficiency - if you are a taxpayer:

  • The interest you earn in a normal savings account is taxable, further reducing the amount of interest you receive. However, with our Flexible Offset mortgage the money in the savings pot is used to offset your mortgage balance and is not taxable.
  • This is a great way to save paying tax on your savings, especially if you're a higher rate taxpayer.



Keep easy access to your money - you can access your savings pot whenever you need to:

  • No charges are made for withdrawals.
  • The money will be transferred into a nominated account the next day, subject to a minimum withdrawal of £100 per transaction.



Flexibility of payments - giving you full control of your mortgage:

  • You can overpay any amount as and when you want to. Or, providing you have sufficient funds available in your savings pot, you can underpay and take payment holidays, giving you control of your payments.
  • You can also repay any amount off your mortgage without incurring an Early Repayment Charge


Great deal for life - no more fees and no more hassle:

  • Guaranteed tracker rate for the life of your mortgage so no need to ever move your mortgage again.
  • If you decide to move home, your Flexible Offset mortgage can easily be transferred to your new property, so you will continue to enjoy the same great rate, even if you need to borrow more!


Extra borrowing - for home improvements or a special purchase:

  • You could borrow additional money in the future, at the same rate as your mortgage up to an agreed limit.




Manage your mortgage online - from the comfort of your home:

  • Use our excellent online facility to manage your mortgage at


Whichever way you choose to manage your account we offer a great mortgage service



All applications are subject to status and our current lending criteria. This means that the amount we will lend you will depend on your individual circumstances, the type of property and the amount you borrow. For example, we may require a higher deposit if you are buying a flat or a new build property