Offset Mortgage
An offset mortgage is a type of mortgage that involves blending a traditional mortgage with one or more deposit accounts held by the same financial institution.
With offset mortgages, You can reduce the amount of interest you pay by offsetting any credit balance you may have with the same lender/ bank towards your mortgage. Some lenders may allow this via single account ( which is usually a current account) and some via multiple accounts with the same lender.
To understand whether it is right mortgage option for you or not, Book an appointment with our experienced mortgage brokers & advisors in London & Essex. They will help you understand the right mortgage option for you. Being whole of market mortgage broker, we can get you most suitable mortgage rates, deals and offers which suit your needs.
Your home may be repossessed if you do not keep up repayments on your mortgage.
* Your home may be repossessed if you do not keep up repayments on your mortgage.
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Our Client Testimonials
Anandini Devi
2024-03-16
Thank you Mountview Financial Solutions in securing our mortgage. Best wishes!
Shaheda Moni
2024-03-15
Prasant Manandhar
2024-02-15
Exceptional professionalism, offering detailed consultations and clear guidance on the advantages and disadvantages of each option. The customer service was outstanding, and I enthusiastically recommend it.
vino mahes
2022-04-30
Excellent service provided by Mount View Financial Solution. Ranjith has helped us throughout the process, and made sure the process was happening smoothly and perfectly. We truly recommend anyone to use their service.
Cyril Joseph
2021-08-12
We would like to thank Ranjit from Mount view Financial solutions for the excellent work he has done to help get our property. He is extremely dedicated, quick responsive, very helpful, friendly and professional. His work is very good and strives hard to achieve and excel customer expectations.
We are very happy with his services and would highly recommend anyone who is trying to get on the property ladder. We also wish Mount view financial solutions immense success.
Anu Shelar
2021-02-05
Ranjit has been an absolute star!
Our BTL remortgaging needs were challenging however, his patience, optimism and knowledge of the products available is second to none.
He was always there to talk us through and emails were answered swiftly.
Big thanks to you again, Ranjit. Anu (my wife) and I would whole-heartedly recommend Mountview Financial Solution.
Best wishes, Anu & Jitu
Amit Talukder
2020-07-26
I am a first time buyer and had no idea about the process and legal commitment. Mountview Financial Solutions helped me at every step. I deal with Ranjit Kumar Singh and found his service fantastic and very professional. He was always a phone call away and made the whole process simple. I would highly recommend Ranjit and Mountview Financial Solutions to all my friends and family.
My Legal Services
2020-07-01
Satayajit Roy
2020-06-27
He did guide me right way to get mortgage done
Bina Bhushal
2020-05-24
I’m so thankful to Mr. Ranjit Singh - Mountviews Finacial Solutions - helping all the way and getting us the mortgage !
He did fantastic job from start till end ! Awesome job, humble and kind personality, thanks again to Mr.Ranjit Singh are the best at what you do, will get in touch with you soon for the new mortgage soon.
vino mahes
18:02 30 Apr 22
Excellent service provided by Mount View Financial Solution. Ranjith has helped us throughout the process, and made... sure the process was happening smoothly and perfectly. We truly recommend anyone to use their service.read more
Cyril Joseph
17:31 12 Aug 21
We would like to thank Ranjit from Mount view Financial solutions for the excellent work he has done to help get our... property. He is extremely dedicated, quick responsive, very helpful, friendly and professional. His work is very good and strives hard to achieve and excel customer expectations.We are very happy with his services and would highly recommend anyone who is trying to get on the property ladder. We also wish Mount view financial solutions immense success.read more
Edolie Noble
05:36 19 Mar 21
Amazing mortgage broker service given by Mr. Ranjit Singh on my first property of London.Thank you very much!
Lucia Bruni
09:32 24 Feb 21
I have been very impressed by Mr Ranjit’s professionalism, their impeccable mortgage service.I would highly recommend... them remortgage and first time buyer.Thanksread more
Monica Hemsworth
11:18 18 Feb 21
Second time using Mountview Financial Solutions - Excellent mortgage advice, very professional service and experience.... Will have no hesitation in using again in the future. Highly Recommend for first time home buyer & remortgage.Thanks Mr. Ranjeetread more
Anu Shelar
18:43 05 Feb 21
Ranjit has been an absolute star!Our BTL remortgaging needs were challenging however, his patience, optimism and... knowledge of the products available is second to none.He was always there to talk us through and emails were answered swiftly.Big thanks to you again, Ranjit. Anu (my wife) and I would whole-heartedly recommend Mountview Financial Solution.Best wishes, Anu & Jituread more
Erick Brand
09:43 25 Jan 21
Mr. Ranjit Singh was an absolute star from start to finish. We were first-time buyers and he made the process really... very easy & simple and found us a good deal extremely quickly. He is extremely friendly, always responded quickly and we have been recommending him to others for mortgage in London.read more
Amit Talukder
21:41 26 Jul 20
I am a first time buyer and had no idea about the process and legal commitment. Mountview Financial Solutions helped me... at every step. I deal with Ranjit Kumar Singh and found his service fantastic and very professional. He was always a phone call away and made the whole process simple. I would highly recommend Ranjit and Mountview Financial Solutions to all my friends and family.read more
Bina Bhushal
19:02 24 May 20
I’m so thankful to Mr. Ranjit Singh - Mountviews Finacial Solutions - helping all the way and getting us the mortgage... !He did fantastic job from start till end ! Awesome job, humble and kind personality, thanks again to Mr.Ranjit Singh are the best at what you do, will get in touch with you soon for the new mortgage soon.read more
RENARS VITOLINS
18:57 24 May 20
The service we received was excellent. Mr.Ranjit was very supportive all through the mortgage process and kept us... updated on every stage.Excellent 5 stars 🌟 and we will use again in the future ! We definitely recommend Mountview Financial Solutions well done 👍🏻 and a big Thank you 😊 to Mr.Ranjit !read more
Minu Dongol
17:50 24 May 20
Mountview Financial Solutions are very professional at their work and Ranjit was very professional and got me best... deal in the market and the entire process was effortless.read more
Offset Mortgage's FAQs
A mortgage tied to one of your savings accounts is an offset mortgage.
The FSCS gives protection for eligible deposits with the bank or building Society. The FSCS provides coverage for this savings plan.
Up to four borrowers may be included in an Offset mortgage.
Lenders ‘ deduct’ the amount in your savings account from the amount you owe on your mortgage and charge the interest on the remaining amount on the mortgage.
Usually, the advice is to pay more than necessary if you have the option.
Keep adding to your savings to lower your interest rate.
Your savings account for an offset mortgage may still allow deposits and withdrawals.
With a family offset mortgage, the savings account—sometimes called an “offset account”—is held in the name of the mortgage owner and not the family member contributing the savings.
Higher-rate taxpayers liable to the Personal Savings Allowance, which requires them to pay tax on any interest generated that exceeds £500 annually, may find offset mortgages highly beneficial.
When offset mortgages give you greater flexibility, their interest rates are frequently higher than those on traditional mortgages.
If you use your savings to pay for an offset mortgage, no interest will be earned.
Higher-rate taxpayers who are liable to the Personal Savings Allowance, which requires them to pay tax on any interest generated that exceeds £500 annually, may find offset mortgages to be very helpful.