The new microsite offers guidance and information on everything advisers should know about offsetting. The ‘try before you buy’-style service allows intermediaries and their clients to see how offset mortgages work and how the benefits of Abbey’s Flexible Plus mortgage could suit their own circumstances.
A flash illustrator shows the basic principles, while an online calculator can take into account the client’s own financial circumstances. Using simple illustrations the customer can see how the term of the loan, the repayments or the total amount repaid can change as a result of steps such as increasing savings, overpayments and underpayments.
This site also allows intermediaries to download and print off Abbey’s new Flexible Plus sales pack, which features a comprehensive Intermediary guide, as well as client literature.
Abbey’s Flexible Plus microsite is the latest stage in a six month long campaign aimed at boosting awareness and providing better information on offset mortgages. Abbey has introduced the measures because of feedback from intermediaries, who feel they need more support from offset lenders because the sales process is more complex.
Abbey’s Flexible Plus mortgage offers all the features of a flexible mortgage, including underpayments, overpayments and payment holidays, in addition to a savings offset facility. One key additional benefit of Flexible Plus is that customers do not need to switch bank accounts to benefit from offsetting.
Ambrose McGinn, Director of Abbey for Intermediaries, said: “Abbey’s Flexible Plus microsite is a great way of visualising what actually happens to your money in an offset mortgage.
“It gives intermediaries the tools to let their clients try it out for themselves and see how it works. They can put their own earnings and savings figures into the calculator and see what the mortgage can do for them. This will be really useful for intermediaries as the sales process is more complex with an offset mortgage, and as a result is often more difficult to illustrate to clients.”
Intermediaries can access the microsite via www.abbeyforintermediaries.com. The entire website is geared towards supporting intermediaries with product information and sales tips as well as information about FSA regulation.
