Your home may be repossessed if you do not keep up repayments on your mortgage.

Offset Calculator

Get a better understanding of the potential savings that could be made by offsetting your savings against your mortgage. To tailor the results to your own circumstances move the sliders below.

-MORTGAGE-

Your Mortgage
Mortgage Term:
years
Mortgage Amount:
Mortgage Interest Rate:
%

-INTEREST-

With an Offset account, mortgage interest is only calculated on the difference between the two balances.
interest is only calculated on the difference between the two balances

-TAX-

by offsetting your mortgage your savings become tax efficient. Find out how much tax you could be saving.
MOVE THE SLIDERS TO UPDATE YOUR RESULTS BELOW

-SAVINGS-

Your Savings
Current Savings Balance:
Monthly Savings Deposit:
Current Tax Band:
%

BASED ON THE INFORMATION PROVIDED, AN ILLUSTRATION OF THE POSSIBLE BENEFITS TO OFFSETTING:

a monthly repayment of:

n/a

more details find out more details

could pay off your mortgage in:

n/a

more details find out more details

giving interest savings of:

n/a

more details find out more details

and a tax saving of:

n/a

more details find out more details

Offset Mortgage Finder

Search and compare products
from our range of Offset mortgages.

Choose Chelsea Offset

Chelsea Offset is the smart choice
for savers with a mortgage.

Please note

The calculations used in this demonstrator are based on the following:

  • The estimates provided are for illustration purposes only and assume that the interest rate will remain the same throughout the term of the mortgage
  • Actual mortgage rates available are dependent on market conditions so change from time to time.
  • Requires a static (i.e. fixed) payment to be set up and maintained throughout the mortgage term.
  • Mortgage type is repayment.
  • No interest is payable on the Offset savings balance.
  • Regular monthly savings deposits are made throughout the mortgage term (in line with the 'Monthly Savings Deposit' entered), or a constant savings balance is maintained (in line with the 'Current Savings Balance' entered).
  • The tax saving shown is based on the reduced term at which you could pay off your mortgage using your accumulated Offset savings. The example used on this page assumes that basic rate taxpayers pay 20% tax, higher rate taxpayers pay 40% tax and additional rate taxpayers pay 45% tax on savings interest and are based on current HM Revenue & Customs rules which are subject to change.
  • *AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

This information does not contain all of the details you need to choose a mortgage. Make sure you read the separate Key Facts document before you make a decision. The actual amount you can borrow, term and repayment method available will vary depending upon your personal circumstances and borrowing requirements. Applications subject to standard lending criteria and all loans subject to status. Early repayment charges apply and product fees may apply.

However you choose to manage your Offset Account you will need to select one of the available monthly payment options. If your aim is to Offset in order to pay off your mortgage quicker, you must choose the Reduced term option.

Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085. Principal Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.

References to 'YBS Group' or 'Yorkshire Group' refer to Yorkshire Building Society, the trading names under which it operates (Barnsley Building Society, the Barnsley, Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and its subsidiary companies.

Buy to Let mortgages are not regulated by the Financial Conduct Authority.

This site is intended for UK Residents unless otherwise stated. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.

*Calls to 0800 numbers are free of charge from a landline or mobile. Calls to 03 numbers are charged at the same standard network rate as 01 or 02 landline numbers, even when calling from a mobile.

Chelsea Building Society and the Chelsea are trading names of Yorkshire Building Society. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in theFinancial Services Register and its registration number is 106085. Principal Office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.

References to 'YBS Group' or 'Yorkshire Group' refer to Yorkshire Building Society, the trading names under which it operates (Barnsley Building Society, the Barnsley, Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and its subsidiary companies.

Buy to Let mortgages are not regulated by the Financial Conduct Authority

This site is intended for UK Residents unless otherwise stated. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.

*Calls to 0800 numbers are free of charge from a landline or mobile. Calls to 03 numbers are charged at the same standard network rate as 01 or 02 landline numbers, even when calling from a mobile.

Get in touch with us:

  • Call us:
    http://www.thechelsea.co.uk/contact/index.html
  • Find a branch:
    http://www.thechelsea.co.uk/contact/branch_finder.html
  • Manage your accounts online:
    http://www.thechelsea.co.uk/security/online_help.html