Some of the potential pros for this type of 3 year offset mortgage deals include:
- You do not have to pay tax on your savings account
- You are able to make overpayments and repay your debt in a shorter space of time
- You can make underpayments if you are short of money one month
- You are able to take payment holidays
- Reduce payments
- Pay off your mortgage quicker
A 3 year offset mortgage could benefit you if you have a significant amount of savings available to make some of your monthly mortgage repayments. Before you enter into a 3 year offset mortgage contract you will need to ensure that you can keep up with your repayments and that you have enough savings to contribute monthly.
Because there are so many different 3 year offset mortgage deals, we recommend that you shop around and compare mortgage prices and policies before deciding on one in particular. This will help you to find a mortgage that is most suited to you.
See our comparison table below for a look at some of the 3 year offset mortgage offers that are available.