Summary
Offset mortgages use your savings to reduce monthly mortgage repayments in a tax-efficient way and personal finance website moneysupermarket.com reckons they could soon get much more popular.
It says a borrower with an offset mortgage from Intelligent Finance with a pounds 150,000 remortgage on a pounds 200,00 property effectively cuts their borrowing rate by 0.5 per cent if they offset it with savings of pounds 13,760.See the full content of this document
Extract
Offset Cost of Mortgage
Says Laura Cum...
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