Description
An offset mortgage enables you to use your savings to reduce your mortgage balance and the interest you pay on it.
For example, if you borrowed £200,000, but had £30,000 in savings, you would only be paying interest on £170,000.
Offset mortgages are generally more expensive than standard deals but can reduce your monthly payments, whilst still giving you access to savings.
Your home may be repossessed if you do not keep up repayments on your mortgage
Other Mortgage Services
Description Some people switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender, and you might get a cheaper deal with another lender. Other people remortgage to consolidate their debts. It is worth noting that a remortgage isn’t always the most […]
Description These types of mortgages are designed for property investors and private landlords, who do not intend to live in the purchased property. Buying additional property for the purpose of letting it to earn rental income can be risky and complicated since there is no guarantee that house prices will rise nor that rental income […]
Description Flexible mortgages recalculate the outstanding capital and interest (the amount you owe) on a daily basis. This allows you to make overpayments when you have money to spare, and see an immediate reduction in your loan. Some also allow you to make underpayments when finances are tight, which will increase the interest you have […]
Description An offset mortgage enables you to use your savings to reduce your mortgage balance and the interest you pay on it. For example, if you borrowed £200,000, but had £30,000 in savings, you would only be paying interest on £170,000. Offset mortgages are generally more expensive than standard deals but can reduce your monthly […]
Description Second charge loans can be secured against residential or Buy to Let properties. They are provided by specialist lenders and are generally short-term loans secured against the property, but where the lender has a second call on the property if the borrower defaults. Second charges tend to be more expensive than ‘firsts’, but can […]
