Offset mortgage deals

Tailored rates with firstmortgage.co.uk

There are hundreds of offset mortgage deals in the UK and finding the right one can be time consuming and frustrating. If you’re searching for an offset mortgage deal, First Mortgage can help you find the very best offers from the whole of the UK market. We don’t charge a thing for our service, providing a totally independent, impartial and free market search. If you find a better offset mortgage deal we’ll not only match it - but also pay double the repayment difference for a year!

Find an offset mortgage deal with First Mortgage

What is an offset mortgage?

With an offset mortgage you can link your savings and current account with your mortgage. This means that any cash you have in savings can reduce your interest payments. For example, your mortgage might be £115,000, but you have savings totalling £15,000. That means that you will only pay interest on £100,000. This helps reduce interest payments.

Is an offset mortgage deal right for you?

While offset mortgage deals offer lots of benefits and incentives, they may not be the best deal for everyone. Before making your decision, it’s worth considering the following advantages and disadvantages:

 Offset mortgages work best if you have a large amount of savings

 However, you won’t receive any interest on your current account savings. As current interest rates are relatively though, this might not be a big concern

 If you regularly make overpayments you can pay off your loan much quicker than with standard deals

 All of your other debts are consolidated into a single loan (including credits cards, store cards and personal loans), so you can enjoy lower repayment interest rates

 It’s worth remembering that consolidating debts into a mortgage does mean that you will take longer to pay them off

 You can still see you individual accounts, unlike current account mortgages
 If you’re regularly paid large lump sums, bonuses or work as a freelancer, this may be the best option for you

 Because of the increased flexibility the interest rate is generally higher than other with standard mortgages

For more information, advice and assistance feel free to call us on 0845 603 1525. We’re happy to discuss your situation and help you choose the best offset mortgage deal.

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