Kevin,

We have a mortgage of approx £300K with Woolwich which is offset by £150K of savings with Barclays.
I understand the Woolwich is owned by Barclays so if Barclays was to go bust would the £150K of mortgage debt be cancelled out ?
Thus is having more than £50K in savings this way in an offset mortgage account and ideal and secure way to save money in the current climate ?