The money in your bank account gives you instant access and peace of mind, but earns you very little interest. If you could enjoy the usual benefits and also save money on your mortgage at the same time, would this interest you?
What is an offset mortgage?
A savings account is opened with your mortgage provider. The amount of savings held in the savings account will be offset against your mortgage balance with interest only charged against the difference.
You still have instant access to your savings and choose from 1 of the following huge benefits:
- Reduces your mortgage payments
- Reduces the term of your mortgage
How an offset mortgage works?
Your Offset Mortgage Choices
As you have offset your savings to your mortgage you can now choose how to set up your mortgage payments from the following 2 options:
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