Our offset mortgage consumers are given the ultimate in flexibility and choice, with the option to choose how they want their offsetting to work for them. It allows consumers to switch between the following options at any stage of the mortgage term dependant on their life cycle;
With all the flexibility that offset mortgages provide there are many ways clients can utilise the product to fund and manage big events throughout their lives. Here one example below of how offsetting could be used.
Pay School Fees – A client could remortgage their property releasing £50,000 which can be put in a savings account to offset against the mortgage. Assuming the client’s school fees cost £7,000 per annum and the client saves £200 a month – they could use these funds to pay all the school fees and they would still shave £46,370 in interest and reduce the term by 20 months. This is achievable by forward financial planning and clever usage of an offset mortgage.