No other mortgage is quite so engineered for the 21st century as an offset loan – if you want a truly modern, online mortgage then opt for the loan that you can control 24/7.

Online finances are now the norm – it is just 12 years since internet banking began, but its popularity has grown so much that, in the first half of 2009, 22 million adults used internet banking on their main current account, according to the UK Payments Administration.

Some of these users were logging on to their offset mortgage account. A truly online mortgage, offset allows you to manage your money and your loans at the same time. It allows you to move money, assess balances and plan your future finances by showing you how much you have saved against your mortgage, how much you owe and how much you could save by investing more.

Offset works best when managed 24/7 – the more money you can save and move against your loan, the lower your repayment at the end of the month. This might seem like a tough challenge, but with Internet banking, your mortgage can be managed with the click of a button.

It’s perfectly safe too – for the first time ever this year, more than 50 per cent of regular UK Internet users are banking online. The most popular tasks that people who bank online carry out on their main current account are checking account balances and checking statements. People are taking charge of their money and making the most of it, whenever and wherever they are.

If you want to be able to control your mortgage and your money at the same time, talk to an offset mortgage adviser about taking out an offset loan. Talk to them about the potential for Internet banking and ask them how best to manage your money online so as to have the cheapest mortgage possible.

SOURCE: UK Payments Administration, 13/01/10

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