The Leek United offset mortgage combines a mortgage account with a savings account. That means with the Leek United offset mortgage there's no need for borrowers to change their existing financial management by moving current or savings accounts to the building society. The Leek United offer a lifetime tracker offset mortgage usually at a higher rate then the building society's standard variable rate for the term of the mortgage.
The Leek United offset mortgage can include incentives such as a free valuation and cash back. The cash back may be replaced by the payment of legal costs up to that amount. Cash back or legal fees will be 
reclaimed if the Leek United offset mortgage is repaid in full during the first 12 months of the mortgage term. Interest is calculated daily and there is no early repayment charge.
The maximum loan to value with the Leek United offset mortgage is 90 per cent, or 85 per cent for raising capital. An application fee will be payable, which includes the cost of opening an offset savings account to accompany the Leek United offset mortgage. The offset savings account has a minimum balance of £1 and a maximum of the amount of the mortgage loan, up to a figure of £500,000.
The Leek United offset mortgage is available for purchases and remortgages. Flexible features include the ability to take overpayments and have overpayments refunded and the ability to take payment holidays from the Leek United offset mortgage, subject to certain conditions. Repayment holidays may be taken after overpayments as long as they do not exceed six months. Payment can only be deferred for three months in any one period. However underpayments and payment holidays could increase the mortgage term and/or the total amount payable. The Leek United offset mortgage is portable.
Overpayments that are specifically designated to repay the capital on the Leek United offset mortgage will not be available for 
refunds. The minimum overpayment refund is £1,000 and this facility can only be used twice a year. Additional borrowing is available at the Leek United offset mortgage rate, but there is a qualifying period of 12 months if the loan to value is in excess of 75 per cent.
Borrowers who wish to find an alternative to the Leek United offset mortgage can consider the Leek United flexible mortgage instead. The maximum loan to value is between 85 per cent and 95 per cent, depending on the conditions, and there is a higher lending charge for mortgages above 90 per cent. There is also an application fee to pay. Like the Leek United offset mortgage, the flexible mortgage allows borrowers to overpay, underpay and take payment holidays, subject to certain conditions. The mortgage is also portable and there is no early repayment charge. For those who are not quite ready to offset, this mortgage provides a good alternative to the Leek United offset mortgage*.
However, please note that The Offset Mortgage Centre cannot arrange mortgages from the Leek Building Society.
The mortgage is portable and easy to use website
High street availability limited to the midlands, 24 hours notice needed for withdrawals of more then £500
Maximum loan £500,000 with a minimum balance of £1.00
