An offset mortgage allows you to reduce the interest you pay by linking your mortgage to one or more savings accounts. The balance in your savings accounts is “offset” against your mortgage, meaning you only pay interest on the difference between the two. This can be a highly effective way to reduce the cost of borrowing and potentially pay off your mortgage faster.

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Our Offset Mortgage Calculator is designed to help you explore how an offset mortgage could work for you. Whether you’re looking to calculate potential savings, understand your monthly repayments, or plan how to pay off your mortgage more quickly, this tool can help you make informed decisions about your mortgage strategy.

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How It Works:

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• Loan Amount: Enter the amount you plan to borrow.

• Interest Rate: Input the annual interest rate for your offset mortgage.

• Loan Term: Select the number of years you wish to repay your mortgage.

• Offset Savings: Enter the amount in savings or linked accounts that you want to offset against the mortgage.

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Once you’ve input your information, the calculator will give you a clear picture of your monthly repayments and show how much interest you could save over the term of your loan.

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Why Use an Offset Mortgage?

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• Reduce Interest Payments: The more you offset, the less interest you pay, which can significantly reduce the total amount you repay over time.

• Flexibility: Keep your savings accessible for emergencies or other needs while still reducing your mortgage interest.

• Pay Off Your Mortgage Faster: By reducing the interest charged, you may be able to pay off your mortgage earlier than planned.

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Key Benefits:

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• Lower Interest Costs: Offset savings can reduce your mortgage balance, cutting down on the interest you pay each month.

• Increased Flexibility: You still have access to your savings, giving you peace of mind for unexpected expenses.

• No Need to Transfer Funds: Unlike some savings accounts, there’s no need to transfer your savings to a different account – the offset mortgage takes care of it for you.

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