Barclays has launched a new offset mortgage, priced at 0.15% lower than its standard offset deal and available only to Premier customers.
The 4.67% 2-year Premier Offset Tracker comes with a £1,749 product fee, up to 75% loan-to-value (LTV), and covers loan sizes from £5,000 to £2m.
Barclays said the product allows lower monthly payments, a shorter mortgage term, and the ability to use savings at the full mortgage rate, which is usually higher than most savings accounts.
There is no tax to pay on the interest saved.
Customers can access their savings at any time, make overpayments easily, and there is no early repayment charge (ERC) on this Premier offset mortgage.