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Politicians have been arguing this week over the future of the economy – which further proves the need for borrowers to use their money wisely.

Shadow chancellor George Osborne has warned Gordon Brown’s willingness to borrow his way out of trouble could lead to the collapse of sterling, which would be bad news for investors and savers.

Pound Sterling has fallen over November as the UK becomes ever closer to a recession. So it’s time for the saving hoarder mentality to kick in across homes in Britain.

If Sterling drops further, savings and investments might not be the best way of making the most of your money. An offset mortgage however will not be affected as much by a weak pound.

Things are tough and they are going to stay tough, but those who have an offset mortgage will be the best placed – their mortgage payments will go down, their mortgage will get smaller and they will be able to save more money – however much it is worth across the world.

To stay abreast of current trends, news and comment on offseting mortgages visit the Offset Mortgage Blog.

On Thursday 1 March 2007, Standard Life Bank will be launching a range of mortgages exclusively designed to meet the needs of Self Employed clients.

Non-verification of income up to 85% LTV.

Cases over 85% LTV - only 12 months’ trading accounts required.

Standard Life Bank reserve the right to ask for income verification. No sub-prime cases considered.

Offsetting and Freestyle Cash Reserve as standard .

New fixed and discount rates exclusive to Freestyle Self-Employed

2 Year Discounted Rate Mortgage from 5.35% (the overall cost for comparison is 6.8% APR)

3 Year Discounted Rate Mortgage from 5.39% (the overall cost for comparison is 6.8% APR)

2 Year Fixed Rate Mortgage from 5.76% (the overall cost for comparison is 6.9% APR)

Standard Life Bank are now offering a new Parental Affordability Boost which can significantly increase the amount your first time buyer clients could borrow.

Increased borrowing capacity

The Parental Affordability Boost works by taking both client and their parent on the full loan amount.

Key features include:

No joint mortgage - property remains in client name so no Capital Gains Tax implications for the parent(s) Fast & simple Guarantor release Reliable lending decisions within 24-48 hours

For more details on this scheme please call our specialist mortgage advisers on 0845 60 33 173

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From Monday 19 February 2007, all new customers who start an application with Standard Life for a 2 year fixed rate mortgage will be able to benefit from Offsetting.

This means that clients can benefit from the security of a fixed rate of interest on their mortgage while making their savings work for them at the same time potentially saving thousands of pounds in interest by putting money into an Offset Reserve. Unlike a savings account, there is no tax to pay on the interest benefit gained by holding money in the Offset Reserve

Features:

Funds can be moved in and out of the Offset Reserve easily at any time via online banking or over the phone.

An upgrade fee of £99 is payable to activate the Offset Reserve. (This can be added to the loan)

For more information on how Standard Life Offsetting works follow the link below to our website or call us on 0845 60 33 173

Offset Mortgage Centre

New Rates to be Launched

At close of business Sunday 18 February, Standard Life will be withdrawing their existing Freestyle Residential 2 year fixed rate product.

On Monday 19 February we will be launching a new 2 Year Fixed Rate from 5.66% for loans up to 75% (the overall cost for comparison is 6.9% APR).