Best Offset Mortgage

Best Offset Mortgage

If you are stuck trying to find the best mortgage, then speak to one of our specialists today and we could help you.

Best Mortgage Deals

Best Mortgage Deals

Having trouble finding a mortgage which is right for you? Fill in our contact form and speak to a member of our team and they will try to help you.

Reviewing Offset Mortgages

Reviewing Offset Mortgages

If you are looking to find the right mortgage for you, we suggest that you read a range of reviews and advice before you go ahead with one.

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Best Offset Mortgage

Our professional mortgage loan consultants can explain to you the leading Offset mortgage and will aid you in finding the best house and help you buy a property.

We can give assistance based on your needs to ensure you get the most useful advice.

If you are buying your first house, completing a remortgage or trying to sell a current property, we will help with looking for a mortgage.

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Fill out the enquiry form provided if you want to speak to an expert.

Our specialists are here to guide you to find the right mortgage provider that is right for you and can work well to meet your requirements.

Look here - to see how HSBC can offer you a range of mortgage deals. 

What is an Offset Mortgage?

An Offset mortgage is a type of property loan which allows you to link your current and offset savings account together.

Offset mortgages work by offsetting the total amounts of your joint accounts against the total you owe on mortgage repayments each month. Then the mortgage interest payments are lowered. 

The ideal Offset mortgage will be flexible, you will not get interested in your savings, but you should have to pay less for your home each month.

A specialist advisor will give you more information about the choices available and help with all the paperwork.

They could also talk with lenders, solicitors and surveyors about every part of the plan, ensuring it goes smoothly from start to finish.

In addition, we could advise on 95% mortgages, such as shared equity systems: might help you buy a better home than you may have believed possible. 

Our goal is to help make the procedure for buying a home as easy and hassle-free as it can be for you. Contact our team to receive further advice on your top home loan options.

What are the pros and cons of an Offset Mortgage?

There are many advantages and disadvantages to Offset Mortgages. These include:

Offset Pros

  • You can lower the amount of interest you pay on your loan. 
  • You have the flexibility to decide the size of your monthly payments. 
  • Your offset savings won't earn interest, so you won't have to pay additional tax. 
  • Some mortgage lenders will allow you to link up to six savings accounts. 
  • You may be allowed to offset your mortgage to an ISA or current account. 

Offset Cons

  • Rates tend to be higher than other mortgage products. 
  • There aren't many lenders that offer Offset Mortgages.
  • You will need a large deposit to secure an Offset Mortgage. 
  • Providers might only offer Offset deals to borrowers that have their mortgage and savings account with them too. 
  • You may have limitations on your saving withdrawals. 
  • Providers may require you to have a minimum balance in your savings account. 

What types of Offset Mortgages are available?

There is a range of Offset deals to consider. Our informative list will help you compare every offset mortgage deal.

Fixed-rate Offset Mortgage Deals

With a fixed-rate offset mortgage, the interest rate attached to your mortgage after your saving instalments have offset it is fixed. 

The set term is often two, three or five years. So, a fixed-rate deal could be ideal if you want stable offset mortgage rates.

Tracker Offset Mortgages

With a tracker offset mortgage, the interest rate attached to your mortgage after your saving instalments have offset it is variable. 

The variable rate will follow the Bank of England base rate. 

Discount Offset Mortgage Deals

With a discount offset mortgage, the interest rate attached to your mortgage after your saving instalments have offset it is discounted. 

The discount is less than the lender's standard variable rate (SVR). So, your offset mortgage rates will be low. 

Interest-only Offset Mortgages

With an interest-only offset mortgage, you will only repay the interest and need to find another way to pay back the capital.

The interest you owe will depend on how savings offset your mortgage. 

Family Offset Mortgages

With a family offset mortgage, parents can put savings into an offset account linked to their child's mortgage. 

This will reduce the child's interest payments, helping them to pass affordability checks. 

A family offset mortgage tends to help lower your offset mortgage rates and monthly payments.


What happens to your savings with an Offset Mortgage?

An offset mortgage means you will not acquire any interest on your savings. 

Due to the fact individuals tend to pay more interest on a mortgage than they put into a savings account, the offset mortgage deal could help you save money. 

With an offset mortgage, you can improve your savings balance. 

Do you pay interest on an Offset account?

An offset account is an account you link to your mortgage, and you only pay interest on the difference. 

The main advantage of an offset account is that the funds in your account can be used to offset your outstanding mortgage balance. 

So, the amount of interest you pay will depend on the amount that you have in your offset account. 

How much deposit do you need for an Offset Mortgage?

Typically, offset mortgages will require a deposit of 20 to 25% of the property's value. 

However, the Loan to Value (LTV) tends to be lower for offset mortgages. 

Overpay a mortgage VS offset a mortgage?

Overpaying and offsetting your mortgage can be highly beneficial, as you can lower your interest rates and mortgage balance. 

Overpaying a mortgage can help homeowners save thousands of pounds in interest over the years. Offset mortgages allow you to set your savings against your mortgage and only pay interest on the difference. 

So, it's up to you whether you want to reduce your overall balance or focus on reducing interest rates. 

However, you may face early repayment charges if you overpay your mortgage. 

What happens if I overpay on your Offset Mortgage?

You can overpay with an offset mortgage or use the lower monthly payments. 

Once you've offset using your savings account, your mortgage instalments will be adjusted to adhere to the lower interest bill. 

There are various ways to offset your mortgages, such as small ad hoc payments, lump sum instalments or regular overpayments. 

Reviewing Offset Mortgages

We wanted to start reviewing Offset mortgages because many people are interested in them but unsure of what they are.

Getting your first house might be difficult, and you must ask many questions. With the help of our expert staff, you can learn everything you need to know concerning the amount you will be charged and what you can borrow.

There are various fees involved when buying a house; however, we will aid throughout every part, making it as easy as possible.

Several interesting first-time buyer schemes and unique offers are available in the market, designed to help the hard-pressed buyer get on the property ladder.

Several options might be offered for things, such as shared equity strategies, and we'll advise you about anything associated with these.

Depending on exactly what is right for you, one option could help you buy the house of your dreams.

Offset Mortgages

The UK introduced the Help to Buy program in 2013, designed to help people buy a home with a deposit of just 5%.

It has now assisted many people in buying their first home or moving to a new house. We’re able to offer assistance with these plans from a lot of suppliers throughout the industry.

We can also assist and provide support if you need more information about the buying approach. An offset mortgage links your savings and your current account to your mortgage.

As a result, you pay less interest on your mortgage instead of earning interest on your savings. So, your monthly repayments are lower due to decreased interest rates. 

Property loan advice

Reviewing Offset mortgages and our property loan advice should assist you in choosing the right plan.

A few contractors give a Help to Buy Equity Loan on newly built houses, which is often a wonderful choice for some buyers.

At a minimum, a 5% deposit is called for to receive a 20% equity loan through the UK government, accompanied by a 75% from a certified lender.

This scheme is the secondary step in the project. This provides first-time buyers and home movers access to 95% of home mortgages, 15% of which will be offered by the United Kingdom government.

Existing homes and new builds can both be bought using this plan.

If you want to see more mortgage deals, you can look here - to see what's right for you. 

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We will offer assistance with whatever you will need about mortgage loan advice. Feel free to fill in our contact form to speak to us today and find out more information on everything we can do. 


Since you will be speaking with your plan expert, you can be assured that we’ll find the correct answer to all of your queries.

The process linked to getting a mortgage can be tough, but we’ll be there to assist with anything you require.


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