Find the best mortgages to make the most of your hard earned cash.
The best mortgages are not necessarily those with the lowest rates but are those that suit your circumstances best and make the most of your hard earned cash.
If you have savings for example, an offset mortgage can give you the opportunity to save thousands of pounds over the term of your mortgage by making your cash work for you.
It is estimated that less than 10% of borrowers consider an offset mortgage because it is assumed to be complicated, and it is perhaps believed that only people with large savings benefit. At Deal Direct we can offer you impartial advice to help you decide if this type of mortgage is suitable for you.
Not all lenders have offset products but some of the best mortgages from those that do are at highly competitive rates. For example First Direct offer a 2 year fixed rate of 3.19% for up to 65% loan to value and Chelsea Building Society offer a 3 year fixed rate at 3.44%.
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.
