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offset mortgage
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Posts: 396 Forumite
Can anyone advise. If I have an offset mortgage connected to current account, should I set it so any direct debits come out at the end of the month, would there be more balance to offset against the mortgage interest. And is there a best time for the mortgage to come out, or have I got this all wrong. Thanks
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Comments
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Any advice would really be appreciated.0
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do you have savings in your current account or is it just your normal wages?
what is the rate of your offset mortgage? and can you offset any savings accounts (yours or those of others) against it?0 -
I think if you moved all your dds to the end of the month, then that should be cheaper as the money will have been offset against your mortgage for best part of the month.0
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Got about £1000 savings in it at moment, hope to increase it a bit. No other savings to offset at the moment. Rate is 4.99%0
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