An offset mortgage is a flexible mortgage which works in conjunction with your finances. It has the ability to offset credit balances on a current account and savings account against your debts - mortgages and loans. Interest is then calculated on the net amount owing. You keep the balances for your mortgage, current account and savings in separate accounts with the same provider. All the balances are then offset against each other allowing the credit balances to reduce the mortgage amount on which the interest has to be paid.
The mortgage market has never been so competitive. Never before has there been such a bewildering range of mortgage products available to you. As we neither represent a particular Bank or Building Society we can use a wide range of lenders products, finding the one that is specifically right for your needs. Contact your local Devon Mortgage Broker at Eclipse Financial Solutions for mortgage advise in Devon.