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If you are thinking about offset you have to be ready to become the ultimate, disciplined borrower – which could mean a whole new way of borrowing and saving.

Offset works best when you keep saving. But saving every month is tough – if you are only being asked to pay £500 a month for your mortgage interest payments, would you have the discipline to pay £600, or even £800? It’s tough, but that’s how offset works.

Without the discipline, offset essentially becomes an interest-only mortgage, which means you will find it a lot harder to pay off. Also, offset rates, without the saving, aren’t the best rates. They rely on investment and flexible payment, so you have to be sure you can feed your mortgage month after month.

That means asking your adviser to help you put together a plan that will help you save, and help you feed your offset mortgage. An adviser will help you strike a balance between saving just enough and not over-stretching yourself – an adviser may even introduce you to other products that will help you save, like ISAs and investment vehicles.

But at the end of the day, you are in charge of your offset. You have to push yourself and be as disciplined every single month. But the rewards are worth it – savings in your pocket, which are tax-free, every single month. You will also find that your credit score rockets and your mortgage loan decreases.

Nothing pushes people like the incentive of saving and the incentive of debt reduction. And offset can offer that, albeit with some sacrifice. Ask your adviser for help and ask them to outline what offset will exactly be worth to you.

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