Repay Your Mortgage Early

Here at The Mortgage Specialist Ltd, we pride ourselves in helping our clients repay their mortgages early.

Interest rates may be a historical lows and savers are receiving little interest on their savings.  What some clients have done is to switch their mortgage to an offset mortgage.  Here, a mortgage balance and a balance of savings are linked together. To keep it simple, let's say the mortgage balance is £100,000 and the balance in savings is £25,000.  By linking them together, the borrower only pays interest on £75,000 of the mortgage.  Below are some of the benefits of having an offset mortgage:

Benefits :
  • Pay off mortgage early - reduce the term of your mortgage.
  • Thousands of pounds saved - save thousands of pounds in interest. 
  • Flexibility - can overpay and underpay without penalties.
  • Interest charged daily - if you can pay more than the set repayment, on a regular basis, you could reduce the term of your mortgage and save money.
  • Tax efficient (part 1) - by putting your savings against your mortgage, the interest that you have saved on your mortgage is tax free.
  • Tax efficient (part 2) - we make sure your mortgages are working for you in a tax efficient manner.
  • Use Other People’s Money To Make You Money - we advise and educate our clients how to make the most of the financial tools available to them.
  • Annual review - on an annual basis, we offer our clients to review their mortgage and ensure that they stick to the plan of repaying their mortgage early.

      • For further assistance, call us on 0800 612 7688.