Do you know if you could be making even more of your offset loan? You might think that you are making the most of your money by simply having an offset mortgage, but you could be doing EVEN more.

One of the great things about offset is that you can take money out of the mortgage as easily as you can invest money in. Depending on your equity and the size of your lump sum you can take money out and reinvest it back into your property to increase its value and make even more of your savings.

By doing a bit of homework by talking to estate agents and surveyors you could find out what you could do to your home to make it worth it even more. It might be a loft conversion, a new garage, a bigger garden or a new kitchen. Whatever they think will be a wise invest can be funded with an offset loan.

Of course you can use your offset to make your home better for you, but for many this is a financial decision – it’s about making a choice that will give you more equity in the future, which could allow you to get a better offset loan in the future and will make your offset lump sums give you even more savings.

So once you decide if home improvements are the right decision, talk to a mortgage adviser about how much you can take from your loan. It’s about the long-term, so they will help outline what your rate of interest will be, how much you could make if your home does increase in value and how long you should wait before remortgaging or moving.

This is not to say that home improvements are the right choice for everyone right now, but for offset mortgage holders the option is always there. So do your homework, listen to advice and be aware of the potential that your offset mortgage offers you.

To stay abreast of current trends, news and comment on offseting mortgages visit the Offset Mortgage Blog.