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Offset Mortgage Providers

Offset Mortgage Service - helping you make the right decision

Special features of what we offer include:

  • Whole of market service - we work with leading UK mortgage lenders who provide offset mortgage products
  • Access to leading market mortgage rates
  • Access to exclusive loan deals not available on high street
  • Fast turnaround - speak to us today if you need to move quickly
  • We have lenders who will take into account previous defaults and missed payments 
  • Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions

To compare your mortgage options call our mortgage team on 0117 313 7780 or fill in our call back form.

Offset mortgages are becoming an increasingly popular choice among borrowers as a way to finance their property purchase. If you are interested in one you may be wondering what offset mortgage providers might be able to offer you a mortgage.

To help you find out what offset mortgages you might be eligible for you could use the Fair Mortgages comparison tool.

To use the Fair Mortgages calculator you just need to enter the relevant information such as deposit and property value then select ‘Offset Rates’ in the drop down box that asks for mortgage type. You will then be shown a selection of offerings from different offset mortgage providers so you can see their different fees and features, which may help you decide if there is an offset mortgage which is the right plan for you.

How offset mortgages work

Essentially an offset mortgage links your savings, and with some products your current account, to your mortgage. This means you will no longer earn interest directly on your savings, instead they will ‘offset’ your mortgage so you pay less interest on it. Which can help to reduce the length of time it takes to repay or it can lower your monthly payments. 

So if you had a mortgage for £120,000 and savings totalling £20,000 your mortgage would be offset by £20,000 so you only pay interest for £100,000. In this case however with many mortgages your payments would be based on the full loan size so you would in essence make an overpayment each month meaning you pay your mortgage off more quickly in addition to paying less interest. 

Reasons you may wish to consider an offset mortgage

Offset mortgages have a few potential advantages, as mortgage rates are often higher than interest rates offered by easy access savings accounts you could get a better return in effect due to the reduction in how much you would need to pay monthly on your mortgage. 

Many offset mortgage still permit you easy access to your savings account, so you can access your savings easily if you need them in future, they would be more difficult to access if you however put down a larger deposit or used them to make an overpayment.

If you are considering an offset mortgage many lenders will require you to down a minimum deposit of 25%, you may also want look into what interest rates you could secure if you used your savings to put down a larger deposit on a fixed or tracker mortgage. 

If you are currently in the market for an offset mortgage you may find the help of a professional mortgage intermediary beneficial, if you want to find out more about getting an offset mortgage, or other types of mortgage, you can fill in the online contact form on this website to request a call back from a Fair Mortgages Adviser who can provide a free initial conversation about mortgages.  Alternatively you can call us directly on: 0117 313 7780

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