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Home » Mortgage FAQs » What is an offset mortgage?

An Offset Mortgage works by ‘offsetting’ a mortgage borrower’s savings against what they owe on their mortgage, which has the effect of reducing the overall amount of interest that they pay.

For example: A Borrower has a £100,000 mortgage and also has £20,000 in savings with the same banking institution.

With an offset mortgage the borrower will only pay interest on £80,000 which means they may be able to pay off their mortgage more quickly.

It is possible to link a child’s mortgage to their parents’ or other relatives’ savings. The savings can still be held in the parents’/relative’s name(s) and used by them in the normal way.

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