Offset mortgage deals for your client | Accord Mortgages
Offset Mortgages
Our range of Offset mortgage products gives your clients the best of both worlds.
Save money on repayments now or in the future
Pay the mortgage off sooner
Use our online product finder to search for the right offset deal for your client.
Offset is designed to be simple - we don’t insist that your client's salary is paid into their savings account, and there's no minimum opening deposit for their Offset Savings Account.
Offset options
Offset mortgages work in a simple way. The money is in an Offset Savings Account, held with Yorkshire Building Society. Instead of earning interest, it reduces the amount of interest your client pays on their mortgage. So, they’re only charged interest on the differences between the money in the Offset Savings Account and the amount they own on their mortgage.
There are 3 main options for your client to choose from:
Net payment
Net payment
Reduce current mortgage repayments
With this option, your client will be using their Offset savings to lower their monthly mortgage payments now, but their mortgage won’t be paid off any sooner.
Gross payment
Gross payment
Reduce future mortgage repayments
Here your client’s Offset savings are used to lower their monthly payments each year going forwards but they also won’t pay off their mortgage any sooner. Every year your client’s payment is recalculated, based on their reduced mortgage balance and the remaining mortgage term.
Static payment
Static payment
Pay the mortgage off sooner
A ‘static’ direct debit amount is set up and maintained throughout the mortgage term which effectively pays the mortgage balance off quicker. Your client’s monthly direct debit payment will not reduce even though the registered monthly mortgage payment will. The ‘static’ payment can be amended at any time.
Ensure you input, in MSO, the total mortgage payment amount to be set up; this is what will be collected via direct debit each month. This needs to be equal to or higher than the gross monthly payment to take effect.
We offer your clients flexibility to switch between these options if their circumstances change.
Get started with Offset
Product finder
Use our online product finder to search for the right Offset deal for your client.
Our Offset mortgages can be operated online so it’s easy for your clients to:
Change personal details, including the username and password they use to login.
View the balance and statements for their Offset Mortgage & Offset Savings Account(s).
Transfer money out of their savings account(s).
Make debit card payments to their Offset Savings Account.
Send us a secure message.
Product finder
Affordability Calculator
Our Affordability Calculator will give you a quick estimate of how much your client could borrow.
Affordability calculator
Offset guides & literature
Offset Terms and Mortgage Conditions
Disclaimer
We open the Offset Savings Account(s) with Yorkshire Building Society, as a trustee of the savings account(s) on your client's behalf. Your client(s) will not be a member of, or have any membership rights in, Yorkshire Building Society.
Please choose from the following options
So we can direct you to the right part of our website, please select from the login options below:
NEW BUSINESS - ACCORD MSO
To create an illustration, submit a DIP, upload documents or to track an application for new customers:
ONLINE PRODUCT TRANSFERS
Switch existing Accord clients to a new deal - create an illustration, then apply and accept a product transfer online: