According to Lloyds TSB, consumers are preparing for interest rates to rise next year, despite market speculation that rates could drop below one per cent.

The bank’s latest Consumer Barometer of 2,000 consumers found that 40% of consumers believed interest rates could be higher next year.

This means people are expecting mortgage bills to rise, for debts to rise and will be planning to save rather than spend.

If you are one of these 40%, the best option for 2009 has to be an offset mortgage. Although offset could be at the mercy of rate rises to an extent, ultimately you are in control of the loan.

While people on fixed and tracker rates pray for rate drops, as long as you are saving more against your mortgage, the lower your rate will be. This survey proves that there is a lot of doubt as to what the year will look like, but with an offset there is no doubt.

2008 has been a tough year for many and one thing is agreed – 2009 will not be much easier. So get saving and get your money working for you regardless. If rates rise and you keep saving, its good new for you – and if rates drop then its even better news.

If you want control of your financial situation in 2009, you need offset Mortgages.

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