Information about
Offset Mortgages
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An Offset Mortgage enables you to have a number of savings or banking accounts and offset the interest earned in those accounts against the interest owed on your mortgage. This means that you can pay the mortgage interest less the interest earned on the other accounts or alternatively, the earned interest is used to repay the mortgage capital. You decide which of these options you want when you arrange the mortgage. (Both the Mortgage and the all other accounts will need to be with the same organization.) The arrangement is tax efficient as the Offset Mortgage saves you paying tax on the interest you would have received on the other accounts.

You will appreciate that an offset mortgage is complicated so you need to make sure that your accounts are offset in the best possible way take full benefit. You therefore need to take professional mortgage advice.
 
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