How an offset mortgage could save you money
With an offset mortgage the more you save, the more you save on your mortgage repayments. It works by setting your savings and current account balances against your mortgage balance, so you only pay interest on what's left. And you can still access your cash whenever you like. You won't earn interest on your savings, but you won't be taxed either.
A mortgage for these changing times
- Instant access: You can dip into your savings whenever you need to
- Tax efficient: The interest you save on your offset mortgage may well add up to more than any interest earned on savings after tax. This is even more the case if you're a higher-rate tax payer
- Flexible: You can see all your accounts online, transfer money between them, and add and remove eligible accounts.
Putting you in control
Offset mortgages are all about choice
- With interest calculated daily, deposits immediately make a difference
- You can decide to reduce the repayments you make each month or pay off your mortgage early
What you'll need for an offset mortgage
If you're interested in taking out a Woolwich Offset Mortgage with us, we'll ask for a deposit based on the product range available. You'll also need a Barclays current account, which we can set up for you.
If you'd like to know more, give our mortgage specialists a call on 0845 070 4431 1 or we can call you back. Alternatively, pop in to your local branch and make an appointment with a mortgage adviser.
Let us do the sums for you
See how much you could save with our Offset Mortgage calculator.
Looking for a different type of mortgage?
Our full range includes tracker and fixed rate mortgages.