home
in
Search

Moneysupermarket.com » Forums » Ask the Expert » Ask the Expert - Money » Offset mortgage vs changing to repayment ?

Offset mortgage vs changing to repayment ?

Last post Thu, Dec 04 2008, 6:19 PM by liz55. 2 replies.
Sort Posts: Previous Next

  •  Wed, Dec 03 2008, 8:03 PM

    Offset mortgage vs changing to repayment ?

    Reply Quote Spam

    Hi - i currently have an offset mortgage for approx £45k. I have £25k in savings offsetting this. would i be financially better off to put the £25k into the mortgage and change to a repayment mortgage for the remaining £20k?

    I currently have 15 years left on this mortgage but this has so far reduced to 11 years in view of the savings offsetting.

    • Post Points: 20

  •  Thu, Dec 04 2008, 6:05 PM

    Re: Offset mortgage vs changing to repayment ?

    Reply Quote Spam
    If you do not need the flexibilty of the offset mortgage you could get a much better rate on repayment. You are paying for the flexibility of keeping you savings available to you.
    • Post Points: 20

  •  Thu, Dec 04 2008, 6:19 PM

    Re: Offset mortgage vs changing to repayment ?

    Reply Quote Spam
    thank you very much for your comments. i will get some quotes
    • Post Points: 5