Alternatives to Woolwich for offset mortgage and downloadable statements

Nov 17, 2004 0 Replies

Next week, Woolwich are withdrawing all support for downloading statements into MS Money. As I use this software to manage all my finances, I'm intending to leave Woolwich for a bank which provides an offset mortgage product and downloadable statements (not just online banking) I've been looking around elsewhere, and this is what I've come up with so far:



Barclays - amazingly enough, they intend to offer statement downloads for Barclays Openplan, even though Woolwich Openplan will not. This implies that Barlcays use a separate IT infrastructure for the identical product - bizarre (especially as a Woolwich support person told me that it was pressure from Barclays that caused Woolwich to discontinue the MS Money support). Interest rates from 5.60% to 5.70% depending on tie-in.



Natwest - now offer a "real" offset product with multiple accounts, rather than just the rebadged "One" account they used to have. Statement download available for all accounts. Interest rate 5.65% (with a 1% discount for 3 months)



First Direct - Offer statement downloads. Slightly higher rate of 5.75%



There are other banks offering attractive offset products (e.g. Britannia, IF, Northern Rock, Newcastle BS), some with even better rates, but they don't appear to offer statement downloads at all (source:

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Likewise there are people like Nationwide who offer excellent MS Money support, but don't seem to have an offset mortgage product. Anyone know of any other banks offering an offset mortgage product with MS Money support and a better rate than the above? In particular, any suggestion of Nationwide offering an offset mortgage product, or of Abbey re-introducing their offset product with an attractive rate? Cheers, Andrew


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