Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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Anyone got one of these?
I had a chat with someone from Natwest on the weekend and they seem suited to my financial situation.
Discuss 
[Edited on 14-01-2008 by Aaron]
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Is that where you put all your savings & income into one account & whatevers left over at the end of each month goes towards paying off your mortgage quicker??
Good idea if you have money left over each month but kind of restrictive IMO, you would have to live a simple life for a good couple years for it to work as intended!!
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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yeah, i could have my mortgage paid off in 7 years 
Thats what we worked out
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I could pay mine off in 13 months apparently 
But then my current mortgage is tiny anyway.
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Sounds good but maybe a good idea to keep everything seperate?
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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They do say dont put all your eggs in 1 basket, but then I suppose its how you like to live your life, if you can live on the bare essentials without ever really treating yourself or impulse buying something then maybe a good idea?
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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could have mine payed off in 8, but dont wanna spend 8 years flat broke.
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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I looked at them; essentially its a mortgage which encourages you to overpay each month; (By utilising any funds left in your account at the end of each month)
In all honesty, my mortgage allows a £499 overpayment per month before I get any early repayment charges which is all I would want to over pay by anyway currently. If I meet the £499 a month I pay my mortgage off in 14 years iirc and with the one account it was 10; but I'd have to overpay more each month which wouldn't suit my current position.
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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Offsets are better for younger people IMO, ie where you don't get interest on savings but offsets mortgage interest, doesnt effect your cash then as its up to you if you want to overpay
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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I know allllll about The One Account
Ive been working with the brand for almost 4 years 
Ive always raved it and also theres a cash back offer on at the min of £500 
[Edited on 15-01-2008 by Kerry]
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