Cheap Remortgages

When an offset mortgage is applied for it is because the borrowers wants the benefits of a flexible mortgage, such as the opportunity to under or overpay their monthly repayments. However, the difference is that the borrower’s finances are linked together with the same lender. Therefore, the lender is responsible for the borrower’s current account, savings and mortgage as well as any credit cards or personal loans they may have acquired along the way.

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By combining all the borrower’s accounts together it allows for the lender to offset all the ones in credit against the others that are in existence for debiting, i.e. your mortgage or personal loans. This in fact means that the borrower does not have the interest on their current and savings accounts credited to them but instead have the equivalent amount deducted from the debt incurred from the enforced mortgage.