In an increasingly diverse market, finding the right mortgage to suit your requirements may seem like a very confusing task.
Customers can debate the pros and cons of offset vs. repayment mortgages for example, however, it is perhaps most important to shop around for the best deal available, as different providers will often offer competing deals at drastically different rates.Although each type agreement may offer several benefits, providers commonly offer both offset and repayment policies with a good deal of flexibility with regards to under or overpaying, something that may be extremely useful for borrowers.
Like repayment mortgages offset mortgages also offer customers a useful way of saving money on their interest repayments, however, it is important to understand exactly how each plan may benefit potential borrowers. Exactly how much customers can save on their interest rates will depend on how much money they are prepared to set aside. Capital that is set aside in these accounts will not gain interest; however, it can still be accessed at any time.
Take a few moments to consider whether or not the offset mortgage deals featured in or product comparisons table are suited to your current situation.