An offset mortgage may be beneficial for you if you:
- Are a person with a less regular income (perhaps relying on bonus and commission for your salary)
- Are a higher rate taxpayer
- Have a high level of savings
- Have to pay school fees
- Have buy-to-let properties
It is a good idea to fully research the various mortgage lenders who offer a range of offset mortgage loans. You may wish to use our comparison table and offset mortgage calculator to gain a clear idea of the types of offset mortgages available and the range of lenders who offer them.
You will need to choose your preferred method of repayment. One of our mortgage advisors will be able to help you decide between the following:
Repayment – this type of repayment method consists of monthly payments with the interest owed during that month.
Interest only – this type of repayment method consists of monthly interest payments and separate payments into an individual savings account to repay your mortgage at the end of its term.
Make sure to use the offset mortgage calculator on the left hand side of this page and glance over our comparison table for offset mortgage deals before you settle on any particular policy.