Advantages Paying off your mortgage quickly and saving you thousands of pounds
Disadvantages You need a lot of common sense and future vision to benefit from this account
I HAVE WROTE AN UPDATE AT THE BOTTOM OF THIS PAGE. HOPE YOU ENJOY READING AND PLEASE FEEL FREE TO GET IN TOUCH IF YOU WISH. GARY.
The One Account…...where to begin??? Well for a start you need to have a common sense mentality, or this product will simply not work for you.
Why does this product work for me? Well my scenario is that my I own over half of my property, so I benefit from the lowest rates of interest that they offer. If you are not in this situation then the account is not really for you as better deals can be found. Now for the interesting bit…..can you save money….or do you have savings???
Quite simply, if you have £10,000 of savings in the bank that you like to have access to but save it and don't spend it, then you will technically make more money by paying it off your mortgage and reducing your interest than having it sat in a bank account. The Halifax etc brag about 5% interest on current accounts which in a normal world is very good, yet I get 6.5% on my savings TAX FREE as it is held in the form of a debt. I still have access to it as I please and when I want. I simply call the One Account and arrange to pick it up at my local Royal Bank of Scotland.
Feel free to read reviews about these guys not passing on interest rate cuts etc, SO WHAT!!! Come on, in reality these days of petrol price hikes and food price increases etc etc……say to yourself, a few pounds a week…..do a reality check and look at when you last spent £20 on a round of drinks and didn't bat and eye lid, then £15 on a taxi home, see what is more important and what cuts you can make first. AND you still get the higher rate tax free on the 'savings' in the account.
Again this account is for smart people and smart money, I will advise the 'moaners and groaners' out there to stay away and not to annoy the call handlers just before I get through requiring sensible help. Take my word for it, Moneysavingexpert.com 's word for it, trendy house buying magazines word for it and your financial advisers word for it (if you can trust them to be 'independent'….
|Efficiency of service|
|Competitiveness of charges/rates|
|Promptness of service||Excellent|
|Online - Content/organization of site||Excellent|
|Online - Reliability/speed of site||Excellent|
|Online - Ease of applying for products||Excellent|
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