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 out an Offset
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. Offset 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.
There are a number of companies who
offer competitive
Offset Mortgages. Remember to Compare Offset
Mortgages before signing on the dotted line.
Use one of our free
Mortgage Calculators to compare Offset Mortgage
Rates.
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