Best offset mortgage rates from UK online mortgage brokers
What are they?
Offset mortgages, use your savings in tandem with the mortgage to pay off your mortgage more quickly. For example, your mortgage is £150,000 and you have £50,000 in savings, so you only pay interest on the difference. In this case £100,000, not £150,000. Interest is usually calculated daily and your savings work as an overpayment, so you can effectively pay off your mortgage quicker. Some offset mortgages may require you to open a current account for this mortgage to work.
Who uses them?
Higher rate taxpayer often go for this type of offset mortgage because as it can be tax efficient. However, you may pay a premium for an offset mortgages.
Summary
Offset mortgages are appealing, for those who have significant savings.
Offers:
| Provider | Mortgage Type | Initial Rate | Duration | Subsequent Rate | Overall cost for comparison APR% | Early Repayment Charges | |
 | Offset | 6.39% | 2 Years | 6.49% | 6.9% | None after year 2 | Proceed |
 | Tracker Offset | 6.29% | Lifetime Tracker | 1.29% above BoEBR | 6.6% APR | None after 3 years | Proceed |
 | Offset Tracker | 6.43% | Lifetime tracker | 6.43% | 6.43% | £225 | Proceed |
