Does the helper have to be a family member?
Yes, it needs to be a close relative such as a parent, sibling or grandparent.
Can I link more than one savings account to my Family Assist Mortgage?
Up to another 4 offset savings accounts may be set up either in your name or the name of a family member (providing they are aged 18 or over and residing in the UK). These accounts will not be legally charged to the Society and therefore withdrawals will be permitted in accordance with our Offset Savings Account Terms and Conditions.
Why do I need to make a full monthly payment when I am offsetting savings against my mortgage amount?
The reduction in mortgage interest means you make a proportionate overpayment each month, the effect of which will be to reduce your mortgage payments over the term from where they would otherwise have been. Interest will be calculated using your offset mortgage balance less the balance(s) held in the linked savings account. Our system will automatically recalculate your payments to take into account ‘offset’ interest at the time of an interest rate change.
What happens if I am unable to make my mortgage payments or I experience difficulties in paying?
It is important that as soon as you even anticipate difficulty paying then you talk to us. We will treat you sympathetically and help you as much as we can. It is also important that you talk to your helper because their savings are potentially at risk.
What happens after the 4 year period when the legal charge is removed?
Provided that you have made all repayments when they are due over the 4 year period, the legal charge over the savings is removed and the funds are available for the saver.  In some circumstances the saver may wish to keep the savings linked to your account as a traditional offset mortgage which would give you the ongoing benefit of reducing the interest charged.
Can I take a further advance with my Family Assist Mortgage?
No further advances are available during the 4 years in which a legal charge is held over the savings. After 4 years any further advance application would be subject to our underwriting criteria at that time.
For more information about our Family Assist mortgage click here.
Vernon Building Society
19 St Petersgate

Tel: 0161 429 6262

Telephone calls are recorded and may be monitored for regulatory and training purposes to help maintain service quality.

*The 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.


Vernon Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (registration number 195475).  You can check this on the Financial Services Register. We are also a participant of the Financial Services Compensation Scheme (FSCS). Details of the scheme can be obtained from

Telephone calls are recorded and may be monitored for regulatory and training purposes to help maintain service quality.

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