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Intelligent Finance poll predicts offset loans could boom

The number of borrowers with offset mortgages could double in the next two years, says Intelligent Finance.

IF is getting ready to launch a new range of offset mortgages, including its first offset tracker mortgage with two-year tracker options.

The company’s survey of 1,000 adults shows 44 per cent understand the principle of offset banking, which is double the number of people who claimed to be aware of offset when IF asked the same question two years ago.

The research also reveals that 44 per cent of people who say they are planning to take out a mortgage in the next year or two are considering an offset mortgage.

The research, which was carried out through ICM, shows that 10 per cent of borrowers use offset banking for day-to-day banking needs.

IF’s new range includes six offset tracker mortgages which are being launched at rates from 5.29 per cent to 5.59 per cent. All new mortgages are available to existing mortgage customers moving home. IF allows customers to offset all their current account and savings balances, including Isas, held with the bank.

Managing director Nick Robinson says: “As aware- ness and knowledge of the offset product has increa- sed amongst UK consumers, we can use our own specialist knowledge of offset customers to provide a prod- uct range which gives more targeted options for those considering offset.”


Abbey launches new advertising campaign

High street bank Abbey will launch a new integrated advertising campaign on May 2, with TV, posters, press and radio. WCRS, Abbeys new advertising partner, has created the campaign, which will run until the end of June. The new endline that will be used across all advertising is Abbey. More ideas for your money’. This […]

Keep up with the live issues

Thursday, May 5 will see the biggest one-day show for financial intermediaries return to London’s Olympia.

Joint venture?

The Diary was concerned to read a headline in a national news paper suggesting that “FSA’s gold-plated rules threaten abattoirs”. However, on second glance, it appears that the long arm of the regulator has not stretched into monitoring the slaughter of animals and it was just another of those old Food Stan-dards Agency mix-ups. The […]

Schroders takes off in smid air

The Schroder US small and mid cap fund, formerly the Schroder American fund, aims for growth by investing in under-researched elements of the US small and mid cap market.

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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