Mortgage Off Set account protection question

[DonkeyApple]

1) yes. Assuming a conventional offset. The two types have something to do with whether the FSCS becomes engaged. Relevant if you are holding other assets with the same bank as you'd ideally want to retain your FSCS amount to protect those and not be used against your mortgage.

A quick Google didn't reveal much re the offset types so maybe they were disposed of back in the 2011 revision but this link does explain them and it might be worth getting clarification from your building society: https://www.google.co.uk/amp/s/moneytothemasses.co...

2) indeed. You wouldn't have lost any money but you'd have no operating capital.

3) I believe it is 75k now and double for joints.

Edited by DonkeyApple on Wednesday 29th March 14:59

[DonkeyApple]

swerni said:

is Type 1 hereditary and type 2 from being a lazy fat non cyclist?

The important thing is which one can be cured by giving all your money to a preacher.