The principle of what is known as an offset mortgage is that you can combine all your borrowings with all your savings into one account. As well as your mortgage you can combine your current account, savings account, credit cards, overdraft and personal loans in the one account. 

With an offset mortgage you can use your savings to cancel out (or offset) part of your mortgage. This should mean you paying less interest on what you borrow. As the amount of interest you pay is calculated daily, most people will pay less in interest over the course of their mortgage. With an offset mortgage you should be able to either pay less each month, or to reduce the time it takes to repay your mortgage.

The advantage of the offset feature is you can always have access to your savings if you need them. So you can make them work to pay off your mortgage, and access them when you need to.

An offset mortgage tracks the base interest rate and in order to really benefit from the offset you will typically need £5000 to £8000 in savings.

We can advise whether an offset mortgage is right for you.

We'll find the best deals for you

The smart way to arrange your mortgage is to get an expert to do all the shopping around for you. 

An independent mortgage broker, has access to all the mortgage lenders in the UK with over 8,500 different types of mortgage products available.

Contact us and let an expert advisor find the best products for you.

There is no obligation and it costs nothing to see what your options are. 

Help is available even if you've had problems getting a mortgage elsewhere.