Offset Mortgages
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Offset Mortgages
Offset Mortgages enable you to potentially shave off some of the interest by countering your mortgage debt with an equivalent credit balance.
Lenders vary in their approach; some may use a single account system (often termed a current account mortgage), whereas others may present multiple accounts to virtually separate their finances.
Our Offset Mortgage Expertise
Offset Mortgages
Haven's approach to offset mortgages is about creating opportunities to save intelligently, giving you more control over your financial future.
Start Saving
By offsetting your savings against your mortgage balance, you're only charged interest on the difference. This can vastly reduce the amount of interest you pay over the term of the mortgage.
Accessing Your Savings
A primary benefit of an offset mortgage is that you retain access to your savings. However, withdrawing funds will increase the mortgage balance subject to interest.
Make Smart Savings with Haven
Offset mortgages may have slightly higher interest rates than traditional mortgages, but the potential interest savings from your offset savings can outweigh this difference.
Many lenders allow multiple accounts to be linked to your offset mortgage, providing a flexible way to manage your finances and maximise interest savings.
Yes, many offset mortgages allow you to make overpayments, which could further reduce the mortgage term and total interest payable.
As with any mortgage, your home may be repossessed if you cannot keep up repayments. With Haven by your side, you’ll have a guiding hand to ensure you don’t fall into this situation.
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