Offset Savings Account

SMART WAYS TO USE YOUR SAVINGS

  • Instead of earning interest on the balance in this account, we will offset the balance against your mortgage, and only charge you interest on your mortgage on the difference
  • As a result, you could save money by paying off your mortgage early, paying off more of your mortgage each month.
  • Additional savings allowed at any time
  • Any deposits or withdrawals will affect the interest charged on your mortgage.
  • Choice of LINK cash card or passbook

EASY ACCESS TO YOUR SAVINGS

  • Save from £1 to £1 million

  • No notice required for withdrawals

  • No interest is paid on this account

COULD BE IDEAL IF YOU…

  • You have an N&P mortgage

  • Would like to use your savings to help pay off your mortgage early

Product Information
Summary Box
Key Product Information for our Offset Savings Account
Account name Offset Savings
Interest rates (AERs) No interest is paid. The balance in this account will be offset against the balance of your N&P Offset mortgage for the purposes of calculating interest on your mortgage.  
Tax Status No interest is paid on this account.
Conditions for bonus payments No bonus is payable on this account.
Withdrawal arrangements Easy access without notice or loss of interest.
Access This account can be opened and operated at any of our branches or by post. It can also be operated via the internet.

Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.

Read our General Savings and Investments Terms and Conditions.

Read our Savings Fact Sheet.

LINK YOUR SAVINGS TO YOUR MORTGAGE

  • Link your Offset Savings to your N&P mortgage, and your savings could help you pay off your mortgage early.

  • Any deposits or withdrawals will affect the interest charged on your mortgage.

EASY ACCESS

  • You can take money out of or put money into your Offset Savings Account at any time.

MINIMUM BALANCE

  • To keep your account open, all you need do is keep a balance of at least £1.