FLEXIBLE OFFSET MORTGAGES

Repaying your mortgage in a way that suits you

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Offset Mortgages allow you to repay your mortgage in a more flexible manner. In essence, mortgage interest is not payable on the sum you hold in your offset savings account. Utilised correctly this can be a valuable financial planning tool. At Independent James, we have access to several lenders who offer very competitive Offset rates.    

You use your savings to provide your overall financial planning with a greater degree of flexibility, tax efficiency and essentially provide your savings with a much larger ‘rate of return’.  Although slightly higher than a standard mortgage rate, the overall effect of the offset savings can reduce the net interest rate dramatically; the effective ‘return’ on savings is the mortgage rate, tax-free and fully accessible.   

"Having the flexibility of an offset mortgage helps me manage my business and cash flow in a way that suits me."

Mr G. Swain, Company Director, Kent

We will analyse the flexibility of the Offset and its functionality and not just the interest rate.  This is of paramount importance to harness the efficiencies available. For example, when used correctly the offset can also effectively act as a credit facility to draw down when needed; at the mortgage rate obtained and not a new rate.   

Don’t forget the money in your offset savings account is yours and available anytime, anyplace, anywhere!  You are simply making your savings work harder for you.     

We work alongside a number of Accountants who are huge advocates of this type of mortgage as a tax-planning tool.  For Self Employed individuals, Contractors and those in the Creative Industries with funds set aside for a tax bill, rainy day savings, emergency funds, or if you are looking to make unlimited overpayments, offsets can fulfil your requirements perfectly.   


Contact us for a worked example

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