The Virgin One Account Mortgage Review

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The Virgin One Account Mortgage go to www.oneaccount.com
2.3 stars
Average rating for this product is: 2.3 out of 5

From 4 ratings and 115 reviews

Thumb down 39% of users recommend this product

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Guest's Review of The Virgin One Account Mortgage

6th Feb 2009

Overall Rating

5 stars
  • Value for money
    5 stars
  • Repayment Method
    Repayment
  • Product
    Variable rate
Good Points

The one account is the only account where you control what you have available to spend, trust is the most important thing here and that's what the one account is all about, you may well hav be to apply for it but it's worth it, no begging for loans, if you need the money to do something, you have it, no asking, no questions,


Bad Points

Higher interest rates, around 1-2% higher but then you have all your debt at that rate so it balances out. One very bad point is if your are no good with money then you could easily spend, spend , spend, for example, if you have a mortgage of say, 50k, they will set your account at 70k max, that means you can draw the additional 20k with no questions, before you know it you have every thing you dreamed of.


General Comments

I don't believe any other bank is doing the same kind of deal, an on tap loan on top of your mortgage, with no questions. Great for buying a car or boat or doing the kitchen up but be warned you have to pay it back. However looking at you debts all together makes you realise how much you owe and you can watch the total reduce, so you know if you are on track,
To the One account team, Well done!

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NameProduct TypeDiscount LengthSubsequent RateOverall Cost  
WoolwichStep Lifetime Tracker1 year(Base+ 2.49%) currently 2.99%3.00% APR
AbbeyTracker2 year4.24%4.10% APR
WoolwichOffset TrackerTerm(Base+ 2.47%) currently 2.97%3.10% APR