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In some ways, the offset account definition seems simple. It is a way of making credit balances do some work instead of just sitting in an account. The offset account definition means that these balances are tallied against debt so that mortgage holders pay less interest. However, there are two types of accounts to be considered in the offset account definition and it is important to understand the difference between them. This article outlines the difference between standard offset mortgages and current account mortgages and includes a listing of some of the flexible features that might be included in such accounts.

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