If you are looking for something different, we can help you find a mortgage linked to your savings and make your money work harder. An Offset Mortgage will offset the money in a linked savings and/or current account to help reduce the mortgage balance you are charged interest on. The money you save can reduce the term of your mortgage or lower your monthly mortgage payments.
Any savings and/or current accounts you choose to link to an offset mortgage will not earn interest, but the more you hold in the accounts, the more mortgage interest you will save.
For example, if you have a mortgage of £120,000 and have £10,000 in linked savings and/or current accounts, by offsetting you will only be charged mortgage interest on the £110,000 difference.
Depending on how much you can offset over the course of the mortgage, you could save thousands of pounds in interest payments. As your savings account is not earning interest, you will not be charged tax on your savings, which can be particularly efficient for a higher-rate tax payer.
Talk to the mortgage specialists today and let us find the mortgage suited to you. Call 01923 729030 or contact us.