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Offset Accounts

Description: Accounts which can combine your mortgage, personal loan, credit card and savings. When are these useful and what are ... more

Offset Accounts ... the dangers?

Newest Review: ... don’t even need to put anything on your Tax Return! There are two different types of Offset Accounts. Both types of account achieve the same result but work in slightly different ways . The first is the current account mortgage, which normally requires that you have your salary paid into the account and ... more

... you get one net balance for your savings and your debts. If you’re interested in this type of mortgage your choice is currently between Britannic Money, Egg, Virgin and Yorkshire Bank. The other type of account is an offset mortgage, where the s...more

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Offset Accounts: Could this be the way to reduce your mortgage payments? (804 words)
by - written on 04/09/01 (Very useful, 1347 readings)
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Have you ever got annoyed about the fact that you pay a hefty whack of interest on your mortgage, but your savings don’t earn as much and the interest on your current account is derisory? Have you ever wished you could do something about it? Well, you can now and it’s called an Offset Account. First of all, what is it? Well, it’s an account that bundles together your mortgage, current account, savings and possibly even a personal loan and your credit card. Instead of paying a high rate of interest on your borrowings and receiving a lower rate of interest on your savings you pay interest on the net amount borrowed. This means that your net ... Read the complete review

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