Top Five Reasons The Most Flexible Mortgage Is Offset

You control the rate

There is no other mortgage that allows you to control how much you pay back to the lender each month like an offset mortgage. It is simply the most flexible mortgage because if you want a lower rate, you can have it. Of course, it takes hard work on your part to save that bit extra each month so as you can increase the amount offset against the mortgage - the more money offset, the smaller your mortgage becomes. But nothing good comes without hard work - and offset is a flexible mortgage, so if you cannot afford to offset extra during a given month, you will just pay slightly more. It's your choice - offset gives you power that no other mortgage does.

You control your finances

Because offset flexible mortgage awards those who save, it encourages homeowners to take extra care of their finances - nothing will make someone a prudent spender like the promise of actively lowering your mortgage rate. So you are sure to be in control of your finances - which will give you more freedom. More money each month may mean paying off more of your debt, or improving your home or even just treating yourself - it's up to you, but it's all possible with a flexible mortgage like an offset.

You control the form of the mortgage

An offset is the most flexible mortgage because it comes in so many different forms. As well as a regular fixed rate, you can choose a tracker rate or even a variable rate as the basic form of payback. You can even choose a commercial or buy-to-let offset mortgage - offset is a great vehicle for home renovation or refurbishment. So from the inception of the mortgage it is a flexible mortgage because if you know what you want, you call the shots with offset.

You control how much tax you pay

It may seem like a dream option, but with offset, you control how much tax you pay. Because your money is not sitting in a bank account accruing tax-heavy interest, you are not giving the taxman income tax as a result. So although you are not making interest, you are not paying tax. An offset mortgage is a flexible mortgage as you can choose how much money you spend, as well as how much money you save.

You control your debts

If you have credit cards or personal loans that need taking care of, but you don't want to use your lump sum to pay them off, an offset flexible mortgage can help. In the form of an offset current account, your mortgage becomes a huge overdraft at a low mortgage rate - so you can incorporate your high rate credit card and loan debts into one manageable, flexible mortgage. And if you need some cash again, don't take out another costly card or loan, just take it out of the current account. You are truly in control with this flexible mortgage type.