Offset remortgages allow you to offset your savings and current account against your mortgage. This means that you could pay less interest and so pay off your remortgage quicker. There are hundreds of offset remortgages available in the UK. Fresh Start Finance searches the whole of the market to help you find the best deal. Our service is totally transparent and easy to understand - we won’t charge any hidden fees or commissions. Even if you have a bad credit history (including CCJs, bankruptcy, arrears or defaults) we can help you arrange an offset remortgage. Offset remortgages are fully flexible mortgage deals that tie together your current account, savings and mortgage. Though each can be controlled through separate accounts, when the interest is calculated any savings you have will be offset against the remortgage sum. For example, you may have borrowed £100,000, but have savings of £15,000. Any interest will therefore only be charged on £85,000 (the amount after your savings have been offset).
Find offset remortgages with Fresh Start Finance
Offset remortgages are suitable for a large range of people. However, they aren’t right for everyone. Before deciding on your remortgage deal, it’s worth considering the following pros and cons:
The more savings you have, the less interest you’ll pay with an offset remortgage
However, any money in your current account and savings will not gain any interest (though current interest rates are very low anyway)
Used effectively, an offset remortgage can help you pay off your mortgage faster
All of your other debts are consolidated into a single loan (including credits cards, store cards and personal loans), so you can enjoy lower repayment interest rates
Consolidating debts into a remortgage does mean that you will take longer to pay them off
Unlike a current account remortgage, you can still see the individual accounts
Offset remortgages are particularly popular with the self-employed, contractors, or people on a bonus scheme
The extra flexibility means that interest rates are generally higher than other remortgage types such as fixed, variable, capped or tracker rates.
Apply for an offset remortgage with Fresh Start Finance
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