Offset mortgages have these flexible features

• Mortgage payment options - If you choose to minimise interest paid on your mortgage, you can choose between 3 ways of receiving the benefit of offsetting, and swap between them at any time. You can choose between Shorter Term, Lower Payments and Reduced Debt
• Overpayments - flexibility to make overpayments. Bear in mind that if you repay your mortgage in full within a special rate period, early repayment charges may apply.
• Additional borrowing - you can release money tied up in your home, based on your income and house value.
• Payment holidays - you can take 2 monthly payment holidays each year, not during the first 6 months, the fixed rate period or the last 3 years of the mortgage. We still charge interest, which, along with missed payments, is repaid over your remaining term.

• Interest calculated on the basis of daily balances - to give you a consistently good deal.
• Portable - you can carry forward the special rate to a mortgage on a new property for the remainder of the special rate period.
• Choose your repayment type - repayment, interest-only, or a combination of both.
• Choose the term of your mortgage - from 5 years upwards (providing the loan is repaid by your 65th birthday).
• Offset mortgages - give you the option to link your St. James's Place Bank savings and/or current account balances and instead of receiving interest on your savings and/or current account balances, you pay none on the equivalent amount of your mortgage.