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Offset mortgages might be foolishly ignored by many thanks to their uninviting rates – avoid this stance at your peril.

Right now everyone is talking about cheaper rates – on trackers, on fixed rates and on standard variable rates. But no one is talking about the cheapest mortgages. If they were, they would be talking more about offset.

Yes, offset rates might not be too inviting, but they are the perfect example of mortgages that are products, not just simple loans. A mortgage is a long-term agreement that changes with your life: and as everyone knows, your life cannot be defined by a single percentage.

An offset is a long-term mortgage, one that needs advice and careful planning. It might be more expensive to begin with, but if it is added to savings and current accounts it could be considerably cheaper than a headline-grabbing mortgage.

So ignore the hype about the banks ‘passing on’ rates, because finding a cheaper rate isn’t the whole deal. The whole deal is how the mortgage works with your money, your life and your plans.

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