Egg, launched in 1998, is an online provider for financial services. It established itself as the world’s largest pure online bank, with over 3.6 million customers. In June 2000, Egg plc listed on the London Stock Exchange. Prudential plc is the largest shareholder owning 79% of its shares. Egg is the parent company of a number of companies making up the Egg group, all of which trade under the name ‘Egg’.

Egg has two types of mortgages from which you can choose, a 2 year fixed rate deal or a six month discount mortgage. For either, you can offset against the money you have in and Egg savings account.

With the offset option, you only pay interest on the difference between your savings and the remainder of the mortgage balance. This could help you pay off your mortgage early.

Fixed rate: even if interest rates rise during the 2 year fixed period, your rate will stay the same. When this fixed period is over your interest rate will be set at a variable rate above the Bank of England Base rate.

You can choose the saver option to offset your main mortgage account against your savings.
Take payment breaks or pay off early by choosing either the flexi or saver options.
You can make overpayments of up to 10% of your mortgage during the fixed rate period. After the fixed rate period there are no limits on overpayment.
Interest is calculated daily

Discount rate: your mortgage is set at a variable discount rate for the first six months. Once the discount period is over the mortgage will go back to a variable rate set above the Bank of England Base rate.

You can choose the saver option to offset your main mortgage account with your savings.
You can choose the flexi option and take payment breaks
There are no limits on overpayments.

You can also ‘top up’ your mortgage with Egg, i.e. borrow more. This will help you in case you need extra cash for home improvements, like an extension or a new kitchen. Both types of mortgage listed above have this option available, with rates set according to which type of product you choose. They both revert to a variable rate set above the Bank of England base rate as the fixed period concludes.