Offset Mortgages

A Savings account is set up alongside your mortgage. 

The money in the savings account is offset against the mortgage. 

This means that you won’t earn any interest on your savings, but you won’t be charged any interest on the same amount of your mortgage – as shown by the diagram below.

Offset Mortgages

This could potentially save you thousands of pounds in interest, meaning: 
• Pay off the mortgage early (we call this reduced term), or 
• Reduce the monthly mortgage payment

Offset Mortgages