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The One Account Remortgage

Compare the Top UK Remortgage Deals

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The One Account is part of the Royal Bank of Scotland Group and is no longer taking new remortgage applications, but current mortgage holders can still benefit. By putting your current account, mortgage, savings and even credit card balances in one place, you pay one competitive interest rate on everything you borrow. This means a slashed monthly interest bill – and all the benefits of the One Account’s flexible repayment system.

The One Account Remortgage Review

One Account is part of the Royal Bank of Scotland Group, one of Europe’s leading financial services organizations with roots dating back 300 years. The range of One Account products was first launched in 1997 as a joint venture with Virgin Direct Financial Services. The One Account received commendations including ‘Best Mortgage Provider’ (Guardian/Observer Consumer Finance Awards) and ‘Lifestyle Lender of the Year’ (Mortgage Strategy Awards).

One Account remortgage benefits could include:

  • Cut the cost of your remortgage by offsetting your current account against your mortgage balance – potentially saving thousands of pounds in interest
  • Get a better return on your savings by using them to reduce your mortgage borrowings. Because you’re saving interest, there’s no tax to pay
  • Enjoy greater mortgage flexibility, from over-payments to payment holidays
  • Release up to 99% of the equity in your home for improvements or a new car

What is a remortgage?

A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:

    • Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
    • Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.

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