Offset Mortgages can Reduce Your Term
Offset mortgages can provide you with savings and can reduce the term of your mortgage. If you have a large amount of savings, self employed or are a higher rate tax payer, an offset mortgage may be the answer to obtaining the right mortgage deal for you.
By linking your savings with your mortgage, the interest that you pay is reduced. For example, if you have a £200,000 mortgage and £30000 in savings you will pay interest on £170000. Benefit by reducing the term of your mortgage. To do this you only have to have 2% of your mortgage in savings. The savings that you have are still accessible and some lenders let you link to ISA’s and current accounts.
Contact us for offset Mortgage Advice On on 01872250190