Offset Mortgages, London Mortgage Advice Tuesday, 17th March 2009

Offsetting savings against their mortgage, could be a good idea for savers looking to make the most of their money.

In the current economic climate offsetting savings against a mortgage can provide more lucrative returns in the environment of low interest rates.

There could be large savings to be made and it could be that there are hundreds of thousand of mortgage payers who could benefit.

Offsetting is different from overpaying as it allows customers to access their savings at any time. And for those mortgage holders who that are nervous about the current financial situation, this could offer the most lucrative and safest alternative to a low rate savings account.

Many mortgage holders might be ignorant of the benfits of offsetting and other might think that the subject is too complicated.
However if they were to see a mortgage broker then they would be in a good position to make an informed judgement.

It is not necessary to have a high savings balance to benefit from offsetting, ss long as you have a mortgage rate that is higher than your savings rate after tax. Then you will be in pocket.