Offset Mortgages

An offset mortgage is a home loan where savings held in a linked bank account are subtracted from the amount of mortgage that you pay interest on, meaning you can either pay less each month or pay off your mortgage more quickly.

With an offset mortgage you can potentially reduce the amount of interest you pay on your mortgage by offsetting any credit balance you have with the Lender / Bank against the mortgage debt. Some lenders facilitate this through a single account (usually known as a current account mortgage), others offer multiple accounts that allow customers to virtually separate their finances, but whichever the mechanism, the offsetting principle is the same.

This article (Offset Mortgages) is intended to provide a general appreciation of the topic and it is not advice.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Offset Mortgages

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