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Offset mortgages

Offset Mortgages – What Are They and How Do They Work?

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The concept of offset mortgages is relatively new to many people; having entered the UK markets just a couple of decades ago. The scheme can be best explained as just another mortgage option where the mortgage amount is offset by the borrower’s credit balances in terms of savings or current bank accounts. This offset results in a reduced mortgage interest rate as the interest is now calculated and charged on …

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