You should compare as many mortgage deals as possible before committing to any given loan in order to find the most competitive mortgage deal.
If you work for yourself or run your own business, you may not have as steady an income as someone who works within an established organization for an employer. If you are self employed and wish to take out a mortgage loan, you may consider taking out an offset mortgage loan.
By offsetting your savings against your mortgage loan you can reduce the amount of interest you pay on your debt because the interest earned on your savings is used to reduce the interest on your loan.
It is also important to recognize that you will not have to pay any income tax on your savings if you enter into an offset mortgage deal. This could mean that, in addition to saving money by reducing the overall size of your mortgage through early payments, you could also save money in avoiding tax payments.
With these things in mind, you should take a few moments to look at some of the great offset mortgage deals we have featured in our product comparison tables.