Offset (Current Account)

Offset mortgages are a relatively new sector of the mortgage market. Due to the way they are structured and design, Offset mortgages are becoming more and more popular, although the number of lenders that offer this product is still relatively low. A mortgage of this type offsets the amount of interest you pay on your house by considering the money you have in savings accounts and current accounts.

Quite simply, the more money you have, the less interest on your mortgage you pay. In theory this means that you can repay your loan faster and cheaper.

Due to this, it’s not hard to see why they are becoming very popular.