Current account mortgages are a type of flexible mortgage and they have been around for well over 10 years in the UK. Current account mortgages work by combining your mortgage and current account into a single account. For example, if there is £3,000 in the current account and the mortgage is £100,000 the balance in the account will show £93,000 overdrawn. The balance is calculated daily and the homeowner only pays interest on the balance. Any saved income you have in your cu…
What Is A Flexible Mortgage?
A flexible mortgage is a secured loan, which can be paid back in differing amounts while providing access to the housing equity (within pre-agreed limits).
Offset Mortgages Can Save You Thousands
Offset mortgages offer an attractive alternative to traditional mortgages and can save you thousands over the long term.
Offset Mortgage Explained
An offset mortgage basically uses the interest from your savings account against the interest charged on your mortgage. Usually your mortgage lender will link your mortgage and savings account into a single account, with the same financial institution. Each month, the amount you owe on your mortgage is reduced by the amount you have in your account, before working out the interest due on the mortgage. For example, if you had an offset mortgage of £100,000 and you had savings …
How To Obtain The Best Offset Mortgage
This article will briefly discuss what an offset mortgage is; and how an independent mortgage advisor can help you buy the best offset mortgage.
Flexible Mortgages Are Made For Todays Modern Lifestyle
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Finding The Best Offset Mortgage Deal For You
Finding the best offset mortgage deal can be challenging. There is a huge amount of information on the internet and on the high street about offset mortgages, but instead of giving you clarity, it can leave you overwhelmed and confused as to which is the best offset mortgage deal on the market.