savings

What if there was a way to reduce the amount of interest you're paying on your mortgage and at the same time avoid tax on your savings?

Interested? We thought so. Because that's exactly what you can do with the first direct offset Mortgage. offset Mortgages can seem pretty complicated at first glance, but in reality they're very simple.

Basically, it's a way of using your savings and 1st Account to effectively reduce the amount of interest you pay on your mortgage. So if you've got a mortgage of £100,000 and savings of £10,000 you could only be paying interest on £90,000.

Although you don't receive credit interest, you will benefit from the equivalent of the mortgage interest rate on your savings, up to the amount outstanding on your savings. What's more, since your savings are being used to offset your mortgage, you won't pay any tax on them. And if you're a higher rate tax payer, you stand to save even more.

• reduce the cost of your mortgage by using your money more effectively
• all your money benefits from a great rate
• reduce your tax - the higher your tax band, the more you stand to benefit
• benefit from the equivalent of 10.47% AER* for higher rate taxpayers, 7.76% AER* for basic rate taxpayers and 6.17% AER* for non-taxpayers
• greater control and flexibility over your money
• minimum mortgage of £30,000 to qualify
• any linked borrowing will also be at your mortgage interest rate and will also be secured against your home.

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up the repayments on your mortgage.

Make every penny count. Everyday.

Work out exactly how much better off you could be 

*Rates based on the standard variable offset Mortgage, currently 6.00%, 6.2% APR. Other rates are available from time to time.