Current Account Mortgages
Current Account Mortgages are a new and modern way of paying less for your home by offsetting the money you have in your current account to reduce the term of your mortgage. The money you have in your current account (and savings) are subtracted from your mortgage balance. You only pay interest on the reduced figure. This means that more of your monthly mortgage payment is used to reduce your mortgage loan / balance, rather than paying interest. This acts to speed the repayment of your mortgage, reducing your mortgage term, and thus saving you money!
The more you have to offset (savings / current account balance), the better. This type of mortgage is very popular among the self employed, who can use the money they must pay annually as income tax to offset against their mortgage.
Please note that we are not a mortgage or loan provider, we only provide links to mortgage and loan providers.