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: