Manchester Building Society has moved into the offset mortgage market.
Its first deal is priced at 2.99%, which includes a discount of 1% for two years from its newly established offset managed rate of 3.99% (variable).
It has an arrangement fee of £495, payable on completion.
Linked offset Savings account(s) allow borrowers to reduce their monthly mortgage interest charge, with up to 50% of the mortgage balance capable of benefitting from funds placed in the offset Savings accounts.
David Cowie, chief executive of Manchester Building Society, said: “This is the Society’s first entry into the market for offset mortgages
