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Are you considering buying a new home, but you aren't too enthused about paying enormous interest payments? Consider an offset mortgage. There are a large number of offset mortgages offered in the UK, and it'll take a considerable amount of time and effort to search through them all to find the best offset mortgage for you. Let SimplyFinance do the work for you! Fill out a short form, and one of our representatives will put you in touch with an offset mortgage broker that will work with you to get you started on your way to owning your own home. More info
With an offset mortgage, you make payments into a savings account, and the sum in that account will be subtracted from the principal you owe on your mortgage. The remaining amount will be how much you'll be paying interest on, so the more money you've got in the savings account, the less interest you'll be paying. At the end of your mortgage term, the hope is you'll have enough money in your savings account to repay the balance of the loan. If this sounds like something you'd be interested in, fill out our short form, and the mortgage specialists at SimplyFinance will introduce you to an offset mortgage broker who will help you find the best offset mortgage for you. Less
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Some Offset Mortgage Basics
- Offset mortgages are suited to those with a significant amount of money available to put into a savings account.
- You will not make payments to your mortgage lender. Instead, you will make payments into your savings account. The interest earned by the money in the savings account will go toward paying the interest of your mortgage loan.
- The aim of an offset mortgage is that there will be enough money in the savings account at the end of the mortgage term to repay the outstanding principal balance of the loan.
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NEWS & ARTICLES
09 Aug 2007
Offset mortgages are fairly new to the UK mortgage market. If you're interested in making your interest baring savings account work to pay for your home, you may want to consider an offset mortgage. »
09 Aug 2007
There are many types of mortgages available to potential homeowners, and it's important to do your research to know what type of mortgage will be best for you. One option to consider is an offset mortgage. This article will tell you what you need to know about an offset mortgage to help you decide if it's the right type of mortgage for you. »
26 Jun 2008
The mortgage market in the UK has looked better, but there are steps being taken by officials to lessen the burden on borrowers. This article talks about the current status of the mortgage market, the things being done to assist borrowers in this time of financial turmoil, and ways that borrowers can prepare themselves to go out and find the best mortgage loan for them. »