Offset mortgage virgin

ziopin

Hello, can you help please. ,we have a 2 year fixed rate mortgage coming to an end in July and I'm thinking about what to do next.

We have 68% ltv
A little over £3000 in savings
And a joint income of £5000 net a month

Current mortgage payments are £1700 a month

Any point in an offset, as we have little savings?!
We can make up to £300 a month overpayment if needed

Thanks

amnblog

ziopin wrote: »

Any point in an offset, as we have little savings?

Thanks

Without anything to offset, the idea is redundant.

dimbo61

I love offset mortgages and think they are a great way to build up emergency savings, overpay the mortgage and save paying a Lender interest.
If you can get the right deal ? Offset might work for you.
I have an offset mortgage with Barclays so each time I get paid my wages are offsetting the mortgage interest

Thrugelmir

ziopin wrote: »

Hello, can you help please. ,we have a 2 year fixed rate mortgage coming to an end in July and I'm thinking about what to do next.

We have 68% ltv
A little over £3000 in savings
And a joint income of £5000 net a month

Current mortgage payments are £1700 a month

Any point in an offset, as we have little savings?!
We can make up to £300 a month overpayment if needed

Thanks

You must have an expensive life style. If you have other debts tackle these first.