For many customers with a savings account an offset mortgage could prove to be very useful. By linking your savings account with your mortgage, you could potentially make significant savings on interest payments and even pay off your mortgage ahead of schedule. Most offset mortgages tend to come with an arrangement fee, though there are a number of no fee offset mortgages available on the market.
If you had a mortgage of £200,000 and savings of £60,000 for example, an offset agreement could be used to only pay interest on £140,000 of your mortgage.
There are a number of banks and building societies who could offer you competitive deals on a no fee offset mortgage. To ensure that you get the best possible deal available, it is strongly recommended that you compare several no fee offset mortgages to see which benefits each might be able to offer you.
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