Financial Services Industry
Industry: Email Alert RSS FeedL&H offers first offset range.
Financial Adviser, July, 2005
LEEDS & Holbeck Building Society has made its entrance into the offset mortgage market.
It is offering a five-year fixed rate product as well as a lifetime tracker. According to Karen Wint, head of marketing, offsetting will appeal to those customers wanting to pay off their mortgage earlier in order to put money away for a pension.
Ms Wint said: "With the head of the government's Pensions Commission saying that the average UK retirement age will "undoubtedly" rise in the wake of the current pensions crisis, the ability to pay your mortgage off earlier provides a huge saving and increases disposable income to provide for the future.
"For example, a customer taking a AGBP125,000 mortgage and offsetting AGBP20,000 in the savings account will...
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