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Offset mortgage query
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Rover
Posts: 323 Forumite
I remember reading differing accounts on the efficiency of having an off-set mortgage, but can't remember the salient points.
In short what are the pros and cons of having, say a 40k mortgage but having it off-set with 30k savings ?
My first reaction would be it's a decent idea as you'd struggle to better mortgage interest (with no tax penalty) on a savings account. And the savings are instantly accessible ?
Other people thoughts appreciated.
***DOH, just seen the above sticky*** I'll try reading it ! Apologies.
In short what are the pros and cons of having, say a 40k mortgage but having it off-set with 30k savings ?
My first reaction would be it's a decent idea as you'd struggle to better mortgage interest (with no tax penalty) on a savings account. And the savings are instantly accessible ?
Other people thoughts appreciated.
***DOH, just seen the above sticky*** I'll try reading it ! Apologies.
anger, denial, acceptance 
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