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Offsetting from Standard Life Bank

Choose our Freestyle Offsetting feature to save your clients thousands in interest.

By using - or offsetting - their savings, against their mortgage balance, your clients could significantly reduce the amount they pay in interest. This means that the amount your clients save by paying less interest on their mortgage can then be used to cut years off their mortgage term or lower their monthly payments.

Additionally, unlike a savings account, they don't pay tax on the interest benefit gained by holding money in an Offset Reserve.

How does Offsetting work?

It's simple:

Your client can pay their cash savings into an Offset Reserve either regularly or as a lump sum.

While we don't pay interest on this money, we don't charge any interest on the equivalent amount of money in their mortgage so the total amount payable on their mortgage is reduced.

Your client can move money in and out of their Offset Reserve at any time, regularly or in lump sums by phone, online or by direct debit (withdrawals take three working days to clear).

The facts:

Offsetting is available on our variable rate products.

Offsetting can be activated on your client's Freestyle mortgage for a one-off fee of £99.

If you would like to find out more about how to make the most of your client's savings by adding Offsetting and reducing their mortgage interest, see our Offsetting demo for full details or use our Offsetting calculator to get a quick quote.

Main Documents Frequently Asked Questions |

Supporting Documents Checklist (PDF, 91kb) Code: SLBMORTCH

The information on this site is for qualified advisers only and must not be relied on by anyone else. If you are not an adviser you should go to our main website for information about our products and services.

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