A fifth of Brits could do with taking out an offset mortgage to encourage them to save because right now they are saving nothing at all.

Nationwide has found that in January 2010, the number of regular and occasional savers increased to 79% – the highest since September 2008. But one fifth of people still not saving at all.

Andy Hutchinson, head of savings at Nationwide, says: “Although there is still a lot of room for improvement, it is nonetheless encouraging to see a rise in the number of savers in January 2010.”

It is encouraging but in this new era of save not spend, 100% of Brits need to be putting money aside each month. Not saving anything means it is harder to get onto the property ladder and it means that if something happens, there is no financial safety net to help you. For those with families it is particularly risky because all families need some financial back-up.

These non-savers need an offset mortgage. With an offset, the more you save alongside the loan, the cheaper the loan is to manage each month, so you save even more money. And that money you saved into the offset is available at any time, so it is still there for when you need it most.

Saving money rarely makes you money in these days of low interest rates. But it does with an offset loan. So start making your money work for you for once and talk to an offset mortgage adviser about taking out a home loan that will help you save.

SOURCE: Nationwide, 08/02/10

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