Offset Mortgages
Offset mortgages allow you to offset any money in your current account against your mortgage, so you only pay interest on the difference. ie if you've a £100k mortgage and £50k in your offset account, you only pay interest on £50k of your mortgage. As the savings for offset mortgages aren't currently taxed, it can be an efficient way for high rate tax payers to use their money.
Your home may be repossessed if you do not keep up repayments on your mortgage.
 |