Cut the overall cost of your mortgage The money in your current account automatically reduces what you owe on your mortgage, saving you interest. This can add up to thousands over the lifetime of your mortgage.

The One account puts all your money in one place - your mortgage, loans, savings and current account - helping you to:

Cut the overall cost of your mortgage The money in your current account automatically reduces what you owe on your mortgage, saving you interest. This can add up to thousands over the lifetime of your mortgage.

Pay off your mortgage early Any money left in your account automatically goes towards overpaying your mortgage.

Get a better return on your savings - with no tax to pay By paying your savings into the One account you can use them to reduce your mortgage and save interest on a daily basis. And because its interest saved rather than interest earned, theres no tax to pay.

Cut the cost of your personal loans and credit cards You pay one mortgage-style interest rate for everything you borrow - no need for expensive loans and credit cards.

To open a One account, you need to:

be aged 18 or over.

be a UK resident and more than 5 years away from retirement.

own or be about to buy a property in England, Scotland or Wales - your One account will be secured against this property and The One account will need to hold the first legal charge - this is just like any other mortgage.

agree a borrowing limit of £30,000 or more.

be happy to repay your borrowings by an agreed date - which will always be before your retirement. Please note that The One account currently cannot lend against right-to-buy properties, buy-to-let properties or homes that are part-owned by a housing association or local council.