Compare Offset Mortgage Rates

Latest Deal - NatWest 2 Year FIXED »

Call FREE - 0800 158 2934 

1.32%Reverts to 3.75% after 2 years
  • 2 Year Fixed - 60% LTV Deal
  • Call FREE - 0800 158 2934


Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

If you would like to use the money in your savings account to help you pay of your mortgage, then you might like to consider an offset mortgage.

 

How Exactly Do Offset Mortgages Work?

Your savings account and, in some cases, your current account would be linked to your mortgage. Instead of earning interest on your savings, the interest rate that you are paying on your mortgage would be reduced. For example, if you had a mortgage of £100,000 and savings of £15,000, you would only pay interest on £85,000 of your mortgage.

 

A number of different banks and building societies could offer you offset mortgage deals.  It is therefore strongly advisable that you compare offset mortgage rates from several different lenders to see what each might be able to offer you.

 

The mortgage calculator below contain details of a number of products that you may be interested in, and could help you find a more competitive deal on an offset mortgage:


 

About you
Your income
Partner income
Income = £95,000
This calculates your maximum loan
Your property
Property value
Your deposit
Borrow = £160,000
Your loan to value (LTV) = 51%
Your mortgage
Mortgage Type
Payment Method
Payment Term

No mortgages were found which match these requirements. Please use the search form above to find mortgages which suit your precise requirements.

Many people are attracted to offset mortgages for the following reasons:

  • They can be flexible
    Offset mortgages normally allow you to make over- or underpayments, as well as payment holidays if needed
  • Tax benefits
    Savings will usually be taxed, but by linking your savings to an offset mortgage, you would not have to pay income tax on them
  • You may be able to pay off your mortgage early
    The monthly repayments on an offset mortgage are usually based on the whole mortgage loan, meaning that you could effectively overpay each month, speeding up the payment process.

 

Whilst you compare offset mortgage rates, you might find a mortgage calculator helpful. A mortgage calculator could help you to assess the long-term costs of a particular offset mortgage, allowing you to more effectively compare offset mortgage rates from different providers.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker