By bringing together your mortgage,
current account, savings, loans and credit cards, the
One account can help you make your money work harder
and reduce the amount of interest you pay on your borrowing.
It's very simple, but the effect it can have on your
finances can be quite amazing.
Reduce the interest you pay on
your mortgage
Just by paying your income and
savings into the same account as your mortgage you're
reducing your mortgage balance, so you only pay interest on
the lower amount. This could save you a fortune over time
and help cut years off your mortgage.
And as the One account is like a normal current
account, you can get hold of your cash anytime you like.
It's the same with your savings – when you need them,
they’re there.
Save money on your other
borrowing
You can transfer other borrowings
to your One account, so you only pay one low
mortgage-style interest rate on everything, cutting your
monthly interest bill. There's no need to pay sky-high rates
on loans and credit cards.
Get complete flexibility in
managing your finances
Because the One account is
so flexible, you can overpay to clear your mortgage quicker,
or underpay or even take a break from your payments if you
need to – without having to juggle your finances or leave
yourself short. (offset mortgage)
Plus we’ll give you an agreed borrowing limit (your
‘facility’) that you can withdraw up to at any time, just
like a pre-agreed overdraft. As long as you repay your
mortgage by the time you retire and stay within your
borrowing limit, how you run your account is up to you.
