Could an offset mortgage offer a way to save money on your mortgage?
An offset mortgage deal could allow you to pay off your mortgage far more quickly than a standard deal. While your savings are used in the repayment calculation, you can still access your cash.
Most home-owners look for ways to reduce costs, many regularly switch their car and home insurance or energy provider to achieve the best deal. However many are missing out on the most important saving to be made and that is on their mortgage. For most mortgage payments are the largest monthly out going and many miss out on the best deals.
An offset mortgage can significantly reduce a mortgage term saving home-owners thousands of pounds, yet less that 8% of mortgage holders have considered an offset, and fewer still have take one out.
When savings interest rates are low it is advisable to find a way to make your money work harder. You would probably benefit far more using your saving to offset your mortgage then keeping them separate hoping saving rates will improve.
Most home-owners are scared off such deals assuming them to be complicated, however in reality they are reasonably straightforward but require money management.
Offset mortgage options are available across a range of lenders products and Deal Direct are up to date on what is offered and the lender criteria required.
For a full explanation of an offset, advice as to whether this is the right product for you and comparison of the leading market rates contact Deal Direct today.
Call 0800 048 882 for advice and a low rate quote.
