Call us on 0845 603 2408
Business Offset Mortgage
Flexible money-saving offset mortgage
- Combine your mortgage with a Corporate Current Account
- Either repay your balance early or enjoy lower repayments
- No early repayment charges
Business Offset Mortgage
Does your bank offer you inflexible products and services? We look at things differently. That's why we're revolutionising the corporate market with inventive products like Business Offset Mortgage.
Our Business Offset Mortgage offers you the chance to clear your balance early or enjoy lower repayments as you go along.
How it works
Business Offset effectively combines your mortgage with a Corporate Current Account.
Effective interest is only earned on current account balances which are less than the equivalent mortgage balance.
You then have two options:
Either, reduce the term of your mortgage
One way to benefit is to use the notional interest earned on your current account to reduce your repayment period, hence paying off your mortgage faster and making big savings. And, with Bank of Scotland Base Rate, the benefit of this product could outstrip leaving your money with any other high street bank.
Or, get a cashflow boost every month
As an alternative to repaying your mortgage early, you can choose to enjoy lower monthly repayments as you go along. Instead of reducing the term, the notional interest earned on credit funds held on your current account is used to lower monthly repayments, providing a boost to your cashflow each month. The mortgage would run for the full term and once again your business could enjoy large savings in mortgage interest.
In both cases the minimum loan value is £100,000 and there is an arrangement fee which is negotiable, (minimum of 1%).
We could negotiate loans up to a maximum of 75% of the value of the property as security.
Smart options for a business current account
Business Offset gives you the choice of two business current accounts, each attracting notional credit interest at Bank of Scotland Base Rate.
If you only want to operate your account via Internet and telephone then you could benefit from our low cost Direct Current Account. You will only have to pay 40p for the cheques you write and most other transactions are free. If you have cash to pay in, you can use our low cost Direct Cash postal service.
Alternatively if you prefer to use local counter services in a branch then with our Corporate Current Account you can use any Bank of Scotland branch and a growing number of Halifax branches. Use our branch locator to find out where your nearest branch is.
Business Offset Mortgage interest rates
Interest rates are negotiable.
Moving your banking to us is easy
Don't let the fear of disruption to your bank account stop you enjoying big mortgage savings. Through our Easy to Join service we'll automatically transfer all your Direct Debits, standing orders and other arrangements to your Business Offset linked Corporate Current Account*. In additon, set up costs can be added to the loan. We do all the hard work. All you notice are the savings. Find out more about our Easy to Join service.
All it takes is a phone call
We know you want to save money and we also know you're busy. So we've made sure you can arrange Business Offset over the phone. Simply call us on 0845 603 2408† (Mon-Fri 9am-5pm) and it will probably be one of the most profitable calls you'll ever make.
*For your protection there are strict laws governing the financial management of pension funds. This means we are unable to instruct any pension provider to begin collecting payments from a different account. You will therefore need to contact your pension provider directly to give them details of your new Bank of Scotland account. They can update their system to collect the relevant payments from your new account.
Contact us on 0845 603 2408† (Mon-Fri 9am-5pm).
Call on 0845 603 2408†
(Mon-Fri 9am-5pm)
Your property may be repossessed if you do not keep up repayments on your mortgage.