| Whether
you're buying a new home, looking to remortgage or simply want more from your
bank, the One account is the smarter way to manage your money. Here's how… Repay
your mortgage years earlier When you take out a mortgage,
it's not the rate you pay that's important. What matters is the total amount of
interest you pay over the time you're borrowing. With the One account you use
your income and savings to reduce your borrowings and minimise your interest payments.
This could mean you repay your mortgage years earlier, saving thousands of pounds
in interest costs. Pay one low rate on all your borrowings Because
the One account is secured against your home, you pay a single mortgage-style
interest rate on all your borrowings - whatever you use the money for. So you
can transfer across any outstanding loan or credit card balances and instantly
slash your monthly interest bill. Get a higher rate
on your savings Any money you have in the One account
works to reduce your borrowings, saving you interest. This gives you a return
equivalent to the interest rate you pay on your borrowings - that's more than
you earn in any conventional deposit account. And because you're using your money
to save interest rather than earn it, there's no tax to pay. And the great thing
is, the One account is a current account as well - so you've got instant access
to your money at all times. Make more of your income
Most people don't realise they're losing thousands
by running their mortgage and current account separately. The smarter way to manage
your money is to combine the two. That way, all the money that would normally
sit idle in your current account works to reduce your borrowings. And the fact
that we calculate interest on your balance daily means you'll save interest even
if you only reduce your balance for a few days. This can save you thousands in
the long run. Make more of your equity Whether
you're looking to fund some home improvements, buy a new car or you simply need
some cash to see you through Christmas or pay for that summer holiday, the One
account could be the most cost-efficient way to borrow the money. The One account
lets you get your hands on the equity tied up in your home at the same rate as
your mortgage - up to the level of your facility, which could be up to 95% of
the property value. So no more need for expensive personal loans or finance agreements.
Take complete control of your finances The
right way to manage your money is to put it all in one place. This gives you one
balance that reflects your overall financial picture. But that might not always
be how you want to look at your money. That's why not only can you look at your
One account as a whole - you can break down your One account balance in any way
you like. That way you can see your savings, borrowings and other money as individual
balances - just like you would with a normal mortgage, current account and savings
account. So you get the best of both worlds.
You've got everything in one place - giving you total flexibility and saving you
money. And you're still able to see your finances in a way you're used to.
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