The best mortgage may be an offset deal.
It is not the case that the best mortgage is the one with the lowest rate. It is more the case that the best deal is the one which best suits your circumstances and makes the most of your hard earned cash.
If you have savings an offset deal can give you the opportunity to save thousands of pounds over the term of your mortgage by making your cash work harder.
It is estimated that less than 10% of borrowers consider an offset mortgage because it is assumed to be complicated, and it is believed that only people with large savings benefit.
When you know little about a product it is easy to mis-understand the pros and cons. At Deal Direct we can offer you impartial advice to help you decide if this type of mortgage is suitable for your needs.
Many lenders offer an offset version of mortgage products and rates are currently highly competitive.
Extremely low savings rates earn very little interest but if you offset your savings against your mortgage, the interest you save is effectively the rate you receive. Another advantage is that you keep your savings and can withdraw them from the offset account if you need to.
If you are considering an offset mortgage or would like to compare different types of product to see which are the best mortgages in the market, call Deal Direct. We are constantly updating our information to bring you the best deals.
Call today for advice on 0800 048 8828.
