Egg Mortgages

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The Egg Saver Mortgage offers the ability to reduce your interest payments, and hence reduce your mortgage outstanding, by offsetting your savings against your mortgage. That is, instead of receiving interest on your savings at a low savings rate, you reduce the interest paid on your mortgage ... Read review

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Community Level 2David0

David0

A mortgage that saves you money

AdvantagesSave on tax and interest payments, payment holidays, withdrawl overpayments, interest calculated daily

DisadvantagesNot the most competitive interest rate

"The Egg Saver Mortgage offers the ability to reduce your interest payments, and hence reduce your mortgage outstanding, by offsetting your savings against your mortgage. That is, instead of receiving interest on your savings at a low savings rate, you reduce the interest paid on your mortgage (at the usually higher mortgage interest rate). A simple example, based on an interest only mortgage, illustrates this. If you have a mortgage of £50,000 ..." Read review
17.08.2002

Ciao members have rated this review on average: very helpful

Community Level 2debcrane

debcrane

Tax Free Saving via a mortgage

AdvantagesCheap, flexible mortgage with tax avoidance on savings

Disadvantagesstill looking...

"...I love this product! The EGG Saver Mortgage (2006 UPDATE at the end) This is a simple flexible mortgage with the added bonus of being able to have a linked offset savings account. It cost me NOTHING to remortgage, which took 4 weeks. Features (2002): Competitive rates (as of May 2002, 4.74%, 4.8APR) Offset your savings (Beat the tax man! ) Interest calculated daily Withdrawals and payment breaks Free legal fees package for remortgages ..." Read review
03.05.2002

Ciao members have rated this review on average: very helpful

Community Level 3rowemg

rowemg

Egg re-Mortgage

Advantagesonline forms, cheap, no hassles

Disadvantagesno personal contact

"I changed my mortgage to Egg about 6 months ago and the processs was remarkably painless. My old mortgage company took longer to ask me to stay than they did to complete the details. Indeed it was nice to get a please stay with us letter the day after my mortgage had moved. Even with the sudden reduction in payments my old supplier had offered egg was still cheaper. The process is all done online and although it takes some time you can leave it ..." Read review
24.08.2000

Ciao members have rated this review on average: very helpful

Community Level 1DavePallant

DavePallant

Easy mortgage transfer to Egg

AdvantagesVery low flexible rate, very easy transfer

DisadvantagesNo link to Egg internet site

"...flexible mortgage we found that Egg had a very good rate with interest calculated on a very frequent basis. We had a chat with Cheltenham and Gloucester whose flexible mortgage was well over 1 percent higher APR. They did explain that we could over pay on our current, non flexible, mortgage but the amount overpaid would only reduce the interest once a year. They admitted that the money overpaid throughout the 12 months leading up to the interest ..." Read review
06.12.2000

Ciao members have rated this review on average: helpful

Community Level 1Brax

Brax

No drawbacks

AdvantagesGood very flexible option

DisadvantagesMinor

"...about a mortgage? I chose my Egg mortgage because: - it was a very flexible mortgage (beware of some of the so-called flexible mortgages which don't allow you to withdraw and overpay whenever you want to) - it has a very competitive rate from day 1. You can obviously get a better rate with some promotions but check the rate when the introductory period expires - interest is calculated on a daily basis so any overpayments have an immediate effect - ..." Read review
15.05.2001

Ciao members have rated this review on average: helpful

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