Variable Offset Mortgages

Latest Deal - NatWest 2 Year FIXED »

Call FREE - 0800 158 2934 

1.32%Reverts to 3.75% after 2 years
  • 2 Year Fixed - 60% LTV Deal
  • Call FREE - 0800 158 2934


Overall Cost for Comparison 3.50% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

A variable offset set mortgage will essentially have its interest rates subject to change according to the policy of the lender. However using an offset mortgage, your savings will be linked to your mortgage loan, and the interest you earn through your savings can be put towards reducing these rates.

 

There are several advantages and disadvantages in entering into an offset mortgage, and as such it is always important to compare mortgage deals and choose an agreement that will be best suited to you.

 

Most offset mortgage deals will vary somewhat in terms of policy depending on the provider, and customers should therefore research these deals as much as possible in order to find the most competitive priced offer. Please see the FREE mortgage calculator below for more information on offers from other providers: 

 

About you
Your income
Partner income
Income = £95,000
This calculates your maximum loan
Your property
Property value
Your deposit
Borrow = £160,000
Your loan to value (LTV) = 51%
Your mortgage
Mortgage Type
Payment Method
Payment Term

No mortgages were found which match these requirements. Please use the search form above to find mortgages which suit your precise requirements.

 It is worth remembering that unlike some mortgages, variable offset mortgages will have their interest rates subject to change, and these changes may also be quite difficult to predict compared with a tracker mortgage for example.

 

Customers should therefore carefully weigh up the pros and cons of a proposed mortgage agreement before committing to it. The following is a brief breakdown of some of the pros and cons of a variable offset mortgage deal:

 

Pros

  • Customers may not be expected to pay income tax on their savings, as they will be committed to the mortgage
  • A variable offset mortgage may be quite flexible, allowing underpayments, overpayments and payment holidays
  • Customers may be able to pay off their mortgage relatively quickly using their savings and overpayments

 

Cons

  • Customers may have to pay an arrangement fee
  • Little or no interest may be earned on any savings that are used
  • Interest rates may be higher than those in other types of mortgages

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker