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We all want to save, but hopes of a healthy nest egg can be dashed after taking a peek at your monthly outgoings – you need an offset mortgage to give you the confidence to save.

This is because confidence is everything – if you are sure you can save, you can budget and you can plan. But if you think you may not be able to afford to save money each month that momentum is lost. Saving each and every month is hard work.

But with an offset, you know that the more money you invest into your mortgage, the lower your mortgage rate. That means you have an incentive to save and you know you will have extra money to put away each month as your mortgage rate shrinks. With an offset, saving can be guaranteed.

And now is a great time to think about saving – the recession seems to be leveling out and people are more comfortable about their prospects. In fact, according to National Savings and Investments, the British population is increasingly confident about the ability to save more in the coming year. Perhaps encouraged by recent reports of a financial upturn, over a quarter of the population are saying they are more likely to save money in the next 12 months than they did last year.

NS&I says: “People are increasingly confident that they will save more over the next year than they have done in the last year. Improving prospects in 2010 may be one reason, or it could be that people are taking the New Year as an opportunity to review and refresh their finances, and to increase their savings to boost their financial security.”

If you think your prospects are good to start some serious saving, help your chances by taking an offset mortgage. With the help of a professional financial adviser, your loan will work alongside your life and can make you some serious money. They will be able to pick out a mortgage that works around your income and outgoings, giving you the freedom to put aside exactly how much you want, each and every month.

SOURCE: NS&I, 04/01/09

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