Compare Offset mortgages

Offsetting your savings against your mortgage balance can save you a fortune. Use Everyinvestor’s offset mortgage comparison tables to compare and apply online.

Offsetting your savings against your mortgage balance can save you a fortune. Use Everyinvestor’s offset mortgage comparison tables to compare and apply online.

As offset mortgages have grown in popularity they have also become better value. They are most suitable for those with more than £30,000 in savings but if your mortgage is small offsetting could still work for you.

The way offset mortgages work is that you hold your savings and your mortgage with the same provider. Instead of earning interest on your savings and paying interest on your mortgage, with an offset mortgage you give up the interest on your savings but reduce your mortgage balance by the amount of your savings.

This means that you can use UK offset mortgages to cut your monthly repayments or reduce your mortgage term without losing control of your savings. Well worth considering if you have sufficient savings. A good mortgage broker will be able to help you work out whether an offset mortgage is right for you.

Fixed rate mortgages are most suitable for those people who want to know exactly what their mortgage repayments will be for a period of time. If you are would rather take the risk of higher payments in exchange for knowing that your monthly mortgage payments will fall if interest rates fall then consider a tracker mortgage or discount mortgage. If you would like to cap your mortgage payments but still be able to benefit from falling interest rates then a capped rate mortgage might suit you. For buy to let investors a specialist buy to let mortgage could be the best product for you.