Offset Mortgages allow you to reduce the amount of interest charged on your mortgage, by linking it to a savings account or current account.
Sometimes referred to as an offset account, these mortgages work through your lender deducting the savings in your linked account from the outstanding mortgage balance. The interest for your mortgage is then charged on this net balance, instead of the total outstanding balance as in a conventional mortgage, saving you money on interest charges.
By paying less interest, you can then either afford to pay a lower monthly repayment compared to a normal mortgage, allow the money to be used elsewhere, or you can instead opt to make the same monthly payments as on a normal mortgage to pay it off faster, with a term reduction offset.
Available for purchases or remortgages, offset mortgages are an option to consider if you have a significant amount of cash savings already or are anticipating acquiring lump sums in the near future, saving you money over a conventional mortgage.
YOUR HOME/PROPERTY MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
There will be a fee for our services, the exact amount will depend on your circumstances and precise details will be given to you on initial enquiry and you will not be expected to proceed until you have had the fee details in writing and have agreed the fee amount.
The Financial Conduct Authority does not regulate some forms of buy to lets, commercial mortgages, secured loans, unsecured loans, bridging loans, trusts, overseas mortgages, and conveyancing or debt management.
The guidance and/or information contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK
The Bureau 4 Mortgage Advice Ltd trading as The Bureau 4 Mortgage Advice are an appointed representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority
The Bureau 4 Mortgage Advice Ltd are registered in England and Wales with company number 09989346. Registered Office: 4 Oplal Road, Swindon, SN25 2SS
