A flexible way to repay your mortgage

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An offset mortgage allows you to use your savings to secure a better rate on your mortgage.

In essence, mortgage interest is not payable on the sum you hold in your savings account, this is known as offsetting, hence the term ‘offset mortgage’.

Find out about offset mortgages

An offset mortgage can be a valuable financial planning tool.

At Independent James, we work with several lenders who offer very competitive offset rates.

How does an offset mortgage work?

You use your savings to secure you a greater degree of flexibility, tax efficiency and make your savings work harder.

Although slightly higher than a standard mortgage rate, your offset savings can reduce the net interest rate you pay over the term of the mortgage dramatically; this means the effective ‘return’ on your savings is the mortgage rate, tax-free and fully accessible.

"They reviewed my financial situation and were able to find me a great offset mortgage which is something I hadn't even considered. I would highly recommend them."

Mr D Riley, London

Is an offset mortgage right for me?

When considering whether an offset mortgage is suitable, we always take into account the functionality of the mortgage. The interest rate is important but for some clients a standard repayment mortgage may better suit their needs.

An offset mortgage can provide a credit facility for you to draw down when needed; that will be 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 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, offset mortgages can fulfil your requirements perfectly.

Contact us for a worked example


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