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Offset mortgages - do they pay interest for a net credit balance?

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Barrow_Boy_2
Barrow_Boy_2 Posts: 2 Newbie
in Mortgages & endowments
I'm new to this forum lark so here goes... Following early retirement I am in the position where I could pay off my mortgage. However, for various reasons I need to keep my money at this stage so I've been looking at Offest Mortgages as a possible option. Does anyone know whether an offset mortgage would pay me interest if I have a net credit balance? Thanks

Comments

  • KiKi
    KiKi Posts: 5,381 Forumite
    Part of the Furniture 1,000 Posts
    I don't think you can offset and be in credit. Once your savings overtake your mortgage amount, you can't offset past that point.

    I think that's right!
    ' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".
  • pusscat
    pusscat Posts: 386 Forumite
    Woolwich/Barclays does not

    Puss
    xx
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