The Benefits Of Flexible Offset Mortgages

Helps you save

The primary benefit of flexible offset mortgages is that they help you save money. The key to saving is incentives - just seeing your savings sitting in a savings account does not fill you with a desire to save more, especially during these tough economic times. But with flexible offset mortgages, saving means a cheaper mortgage rate at the end of the month. Mortgage repayments can be the bane of everyone's life so being able to cut it down just by saving money is a great way of making sure you watch the pennies.

Helps when times are tough

With flexible offset mortgages your offset amount is always there for you. If you invest your money into your property it is tied to your home, and only attainable through refinancing. This means when times are tough and you could do with getting hold of some of your home's equity, you must either remortgage or take out a secured loan - a costly and lengthy process that will not help you pay debts fast. But with flexible offset mortgages your equity is always there, and you can take it out as and when. Of course it will affect your rate, but if you can eliminate debt and money troubles fast, it's worth it.

Helps you pay off your loan faster

With flexible offset mortgages the saving process never ends - you save money, offset it against your mortgage and achieve a lower rate at the end of the month. If you plan right, you can use this saved money and reinvest it into your offset amount, which in turn makes sure you have an even lower rate of interest the following month. If you continue this process you will find that you begin to amass a sum that will help you go about paying off your loan faster. So with flexible offset mortgages you actually make money, money that can be used to get debt free for good.

Helps you live your life

Being flexible is important. Life is complicated - things change, accidents happen and situations can go from good to bad in an instant. That's why you need flexible offset mortgages to help you through - a mortgage that makes your money work when times are good and helps you out when times are bad. Flexible offset mortgages are not the answer to all of life's problems, but they are a solid, secure basis for you to live your life the best you can.

Can't find what you're looking for? Search here:

Offset Mortgage Centre

RSS Feed

© 2007 and 2008 Offset Mortgage Centre | Terms and Conditions | Privacy Statement | We don't charge a fee for admistration of an offset mortgage. The Offset Mortgage Centre is the trading name of The Mortgage Broker Ltd, (a whole of market mortgage broker), which is an appointed representative of Home of Choice Limited, which is authorised and regulated by the Financial Services Authority | Your home may be repossessed if you do not keep up repayments on your mortgage. *Source Barclays Bank: Calculation based on an offset tracker product; repayment mortgage of £100,000 over a 25-year term that has been offset with £20,000 savings, resulting in a reduction in mortgage term of 8 years and 8 months or a saving of £44,867 in overall interest. Calculation assumes balance remains constant throughout the life of the mortgage and that the mortgage loan and savings balance will vary. Outcomes will be either a reduction in payments or a reduction in mortgage term. No interest is paid on balances offset against the mortgage. Typical rate is 6.45% (variable). The overall cost for comparison is 6.7% APR.