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Offset Mortgages

With Interest Rates Being So Low, Now Is The Time To Change to a Offset Mortgage.  Offset Mortgages enable you to Reduce Your Mortgage at a Much Faster Rate.  Offset Mortgages offer great Financial Flexibility.

What is an Offset Mortgage?

By taking this type of mortgage, you can make the money in your current or savings account work a little harder for you than usual. The balance of the mortgage is basically reduced by the amount of money in your savings or current account. So, if your mortgage is £100,000 and you have £5,000 in savings, you mortgage balance will be considered as £95,000 and you will only be charged interest on that amount. As the interest on savings is being offset, you are effectively paying no tax on your savings interest. These mortgages are also known as Current Account Mortgages.

TIP: By offsetting your mortgage balance against a current or savings account, you could end up paying less interest or paying your mortgage balance off much quicker.