It is important to carefully consider exactly how much money will be saved by an offset mortgage. Customers should also assess how often, if at all, they may need to withdraw money from a linked savings or current account, as any withdrawals can drastically affect the amount of interest they will have to may.
It should also be noted that these types of mortgages are often highly flexible, and may allow customers to under or overpay as they see fit. As well as this, certain providers may also allow customers to link several different accounts together, allowing them to save even more on their repayments.
However, it is important to remember that the money in any accounts that are used will not gain interest, so customers should carefully asses whether or not these savings are worth passing up for reduced interest rates on their mortgage.
If you are searching for a suitable offset mortgage lender offering great offset mortgage deals, our mortgage comparisons table should be quite useful.