Family way

Yorkshire has launched a family offset account that provides family and friends with a way of giving financial help to their nearest and dearest without handing over their own life savings. Offset Plus, which is most likely to appeal to first-time buyers, allows parents to help ease the pain of mortgage payments by linking their savings to the new borrower’s mortgage. Savers retain full ownership and access to their savings, but forfeit interest in exchange for a reduced mortgage payment for their children.