Why an Offset Mortgage is more then just making overpayments...

dpesky

Hi all, Offsetting is so much more then just simply over paying on a mortgage. Offsetting will allow you much more flexibility such as getting your hands back on your funds with ease, it may allow you to link more then one of your accounts to the mortgage saving £££'s on interest payments (Some lenders even allow you to link other family members accounts to the mortgage) Other features and benefits include:

(1) the option to reduce the term of the mortgage
(2) the option to reduce the monthly payments
(3) tax efficiency on savings for higher rate taxpayers
(4) The linking of your current account to the mortgage allowing even your credit balances (especially at time of pay day) to help offset the mortgage costs

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