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Offset Mortgage Query
Parisian
Posts: 410 Forumite
I have just had an offer accepted on a flat, for £145k. Hurray! 
I have been speaking to an independent mortgage broker about my mortgage options. I currently have about £100k in savings - £57k in an ISA, and £43k in a readily accessible account. I am thinking to put down a deposit of 25% (£36,250), or push it to 30% (£43.5k) if the lender really requires it.
My broker has talked to me about offset mortgages and current account mortgages. I am considering the offset mortgage. I was initially reluctant to to move my money out of the ISA (which I have been building for years), but can see how this would definitely be a better use of my money.
However, having done some research this evening... I have realised that there are some offset mortgages which allow ISA accounts to offset the mortgage. My broker did not mention this. I would be super interested in this type of set up.
Does anyone know which lenders currently have offset mortgages that allow ISA accounts to offset? Where is the best place to look for these? I can see Barclays do one... Are there many others? I like the idea of a lifetime tracker but am open to other products (including fixed deals).
With thanks for any advice
I have been speaking to an independent mortgage broker about my mortgage options. I currently have about £100k in savings - £57k in an ISA, and £43k in a readily accessible account. I am thinking to put down a deposit of 25% (£36,250), or push it to 30% (£43.5k) if the lender really requires it.
My broker has talked to me about offset mortgages and current account mortgages. I am considering the offset mortgage. I was initially reluctant to to move my money out of the ISA (which I have been building for years), but can see how this would definitely be a better use of my money.
However, having done some research this evening... I have realised that there are some offset mortgages which allow ISA accounts to offset the mortgage. My broker did not mention this. I would be super interested in this type of set up.
Does anyone know which lenders currently have offset mortgages that allow ISA accounts to offset? Where is the best place to look for these? I can see Barclays do one... Are there many others? I like the idea of a lifetime tracker but am open to other products (including fixed deals).
With thanks for any advice
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