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Are you looking for a way to take control of your mortgage and reduce the interest you pay? An offset mortgage is an ideal way to either reduce your monthly payments or shorten the length of your mortgage term. LDNfinance’s experienced mortgage advisers will take the time to understand your needs, explain the details of this option, and find the best solution for you.
Offset mortgages are a great option in the right situation as they have the potential to help homeowners save a significant amount of money. Quite simply, an offset mortgage links your mortgage to your savings. The balance of your savings account reduces the amount of interest you’ll be charged on your mortgage.
With your savings offset against your mortgage’s value, you’ll only be paying interest on your mortgage minus the balance of your savings. This gives you a choice between lower monthly payments and the same term length, or a shorter term with the same payments that you started with.
Who is an offset mortgage suitable for?
An offset mortgage can be suitable for people purchasing a new property or those looking to remortgage. Offset mortgages are particularly attractive for those with large cash savings, self-employed people who may have either irregular income or have money saved for future tax payments, or those who require the flexibility to get access to their savings balances for potential future needs.
If you’re looking for professional advice regarding your mortgage options, then we are here to help. You’ll receive outstanding service, speaking with an experienced adviser to work out which option makes the most sense for you and your situation.
Let’s discuss your next exciting property investment opportunity and arrange an offset mortgage solution for you.