The quick and easier way to be mortgage-free earlier!

Why choose a Leeds Building Society Offset Mortgage?

• It’s simple and straightforward
   
• Fast, friendly service
   
• The flexibility to add to, and remove your savings as you want
   
• Chequebook for easy access to your savings

Cut years off your mortgage payments with an offset mortgage

• Use the savings you already have
   
• Reduce the amount of interest you’d normally pay on your mortgage
   
• You could save thousands of pounds - possibly more than you would earn in savings interest
   
• Be mortgage-free earlier
   
• Enjoy your money earlier!

Save thousands of pounds and enjoy your money earlier

As you have worked hard for your savings – it’s about time your savings worked hard for you! By using your savings to offset against your mortgage, you could pay off your mortgage much earlier and save yourself thousands of pounds in interest. This way
you can enjoy your money earlier, doing things you’d normally have to wait years for!

Once your savings are offset, you’ll still have the flexibility to do what you want with them. You can add to them whenever you want to – reducing the years over which you’ll pay your mortgage. You can also take money out whenever you want – the choice is yours. However, the more you have in your savings, the quicker you’ll be mortgage-free!

Four reasons to Offset with Leeds Building Society

1. Value - Unlike savings interest which you usually pay tax on, the Offset Mortgage is a tax free arrangement - with potentially greater benefits if you are a higher rate
tax payer.

2. Convenience - You can access and use your savings at any point and if you top them up you’ll save even more in mortgage interest.

3. Choice - The choice is yours - pay your mortgage off earlier or reduce your mortgage payments. Either way you win!

4. Control - Your savings and mortgage are not rolled up into one account, but kept separate so you always know where you are.

It could save you thousands in interest!

You could make your savings work harder and save a fortune in interest. Here’s an example of how much our Offset Mortgage can save you and how early it could clear your mortgage.

What this means for you...

This example is based on a repayment mortgage of £75,000 over a term of 25 years with £5,000 of savings offset against your mortgage for the entire term.
The variable interest rate is 5.25%. The overall cost for comparison is 5.6%APR.
The example above assumes the rate applies throughout the term. The savings shown are what you would save compared to the same Leeds Building Society Offset Mortgage but with no linked savings accounts. Savings amounts shown represent an average savings balance over the mortgage term.

Why not use our offset demonstrator to see how much you could save?

Our easy-to-use Demonstrator allows you to see, via the graph, how your savings will effect your mortgage balance and monthly payments. View the Offset Demonstrator

Your offset questions answered - click here