gazza-uk

Offset Mortgages from the West Brom

Looking at this mortgage, locked in for 12 months only,

1st 6 months .25 over boe base rate, then .75 above for tern,

anybody else got this, or would you advise a diff mortgage?

stilover

I had a Offset Mortgage from the Woolich.

Personally, I think they are very good mortgages. Are you planning on reducing your monthly payments or reducing the mortgage term?
Watch out for seting up fees and redeption fees.
Mine was free to set-up and when I payed it off, the redeption fee was £175.

If I ever need another mortgage, i'll probably go for an offset mortgage type.

gazza-uk

i'm looking at both, think I will go with this, I expect interest rates will be ~ 5.5% for the next 2 years

stilover

Remember though, an Offset mortgage only makes sence if you have a decent percentage of the mortgage amount in cash. Anything less than 20-30% and your probably better off with a standard mortgage.

But they are a great way to pay off huge amounts of interest payments. Even better if you can save a few hundred pound a month, and put it into your offset account.

gazza-uk

the west brom tracker seems cheap, without any savings it would still be a good deal?