first direct offset mortgage now that my 3year trackers is about to run out?

In message , Tim Woodall writes

Whilst I understand both those banks offer the facility AIUI both bits need to be from the same lender.

To make the exercise worthwhile you actually want it to be expensive. That way you save more money on the flexible temporary overpayments.

So you mean when looking for an offset mortgage you should look for the one with the highest rate of interest? :-)

Exactly. That way if you overpay all of it, you save an absolute fortune. It's a pity you can't overpay more than you owe, isn't it?

In message , Ronald Raygun writes

Hmm if we market this properly, by this time next year we could be millionaires! Think of all the money we could save!

Well, it's no worse than all these outfits who tell you you could save half the price of a new leather sofa which you would never have bought at the full price.

In that case it'd be much cheaper to arrange an overdraft for 2000+ then make a one-off payment of 2000 into the mortgage. Then your account would be near zero for most of the month and overdrawn for 2000 for a day or two at 7.75% instead of paying the mortgage rate 7.2%! The difference would be even more trivial - 2 days a month paying 7.75% instead of 7.2% on 2000 gives a difference of 72p a year!