Any bank offering an offset mortgage?

S

SPC100

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I know some folks have older offset products, but is there any offset mortgage product available today.

Offset mortgage: the interest is charged on mortgage balance minus any funds in your bank account.

In these low interest and changeable times it seems like a very interesting product.
 

Offset mortgages - available in Ireland

Is anyone aware if this product is available in Ireland? The general idea is that you have funds on deposit either in a current account or an interest account with the bank that you also have a mortgage with. The principal on which the interest is calculated is your net balance - the mortgage...
www.askaboutmoney.com

It seems there was none available for new customers/switchers in 2018
 
Last thing a bank wants now are more deposits. If anything these days they'd structure this product so you'd pay a higher rate than on a traditional mortgage.
 
It's a year later, and I'm wondering if there any banks now supporting this.

I would like a way to have the flexibility to get my overpayments back, without going through a remortgage.
 
SPC100 said:
It's a year later, and I'm wondering if there any banks now supporting this.

I would like a way to have the flexibility to get my overpayments back, without going through a remortgage.
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PTSB offer a 'credit' account, were overpayments are used to offset for interest calculations. You can then use these overpayments as credit for future payment, reduce payments or put off capital. Not sure if you can get the money back.

FYI- I am not a PTSB mortgage customer, this was explained to me over the phone as will most likely end up with them post UB withdrawal.
 
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