Discover the flexibility and savings potential with Offset Mortgages. Our specialist advisers will help you every step of the way, helping you step into the mortgage market with confidence.
At Bower Private Clients, we take pride in being your offset mortgage experts, offering innovative solutions that blend your mortgage with your savings to optimise interest payments. We offer a tailored approach to ensure your hard-earned savings work just as hard for you, reducing the interest on your mortgage while providing instant access to your funds when needed.
Our specialists are committed to guiding you through the intricacies of mortgages, ensuring a personalised strategy that aligns with your financial goals. At Bower Private Clients, our team can discuss anything surrounding your offset mortgage interest questions, questions about the disadvantages of specific mortgage types, and how an offset savings balance can help you!
With Bower Private Clients you’re not just getting a mortgage; you’re embarking on a brighter path towards financial flexibility and efficiency, where your savings and mortgage coexist to your advantage.
Choosing Bower Private Clients for your mortgage advice means partnering with our team of dedicated experts who prioritise your financial well-being. Our in-depth understanding of the mortgage landscape and a bespoke advisory approach ensure we can tailor solutions to your unique financial circumstances and goals.
At Bower Private Clients, we pride ourselves on delivering clear, jargon-free advice, empowering you to make informed decisions about your mortgage options. Our commitment to excellence in service is reflected in our proactive support and guidance throughout your mortgage journey.
With Bower Private Clients you gain more than just an adviser; you gain a trusted partner dedicated to helping you maximise the benefits of your offset mortgage, ensuring it aligns perfectly with your current and future financial strategy.
An offset mortgage is a financial product that combines your mortgage and savings account, allowing the money in the latter to work in your favour by offsetting the amount you owe on your mortgage.
Instead of earning interest on your savings accounts, that sum is used to reduce the mortgage balance on which interest is calculated. This means you could pay less interest on your mortgage, potentially shortening the repayment period.
Your savings remain accessible, offering a flexible solution that adapts to your financial circumstances. Offset mortgages represent a savvy approach for those looking to make their savings work harder, providing potential interest savings and financial flexibility.
Our dedicated team can help you find a mortgage catered to your needs including Offset mortgages.
Offset mortgages offer a unique blend of benefits that can be particularly attractive for savvy savers and those seeking financial flexibility. They are often used as a strategic financial tool for those looking to balance savings and mortgages to maximise their financial efficiency and flexibility.
This allows your savings to earn an interest rate equivalent to your mortgage rate, often higher than standard savings account rates while remaining tax-efficient since you’re not directly earning interest on your savings.
You will have the flexibility to access your savings if needed, making it an ideal choice for those who want their money to work harder without locking it away.
By linking your savings to your mortgage, you can significantly reduce the interest you pay over the life of the loan, shortening your mortgage term and saving money in the long run.
Offset mortgages encourage proactive financial management and can be especially beneficial for higher-rate taxpayers or those with substantial savings.
Read more about how we’ve helped our customers below.
The representative, Tracy , was exceptional. The first time she visited me, she was so kind and approachable. She sat with me for a long time and explained everything until she felt that I understood. She talked about the advantages and disadvantages and gave me a chance to make informed choice. She was engaged all the time. Taking me through every stage, patiently and professionally. Nothing was not too much trouble for her. I phoned her umpteen times for clarification, and each time she returned my calls and explain what I wanted to know. Sometimes I would ask twice about the same thing and she was so patient with me because this was my first time in this adventure of Equity Release. She was proactive and pushed every stage to go through quickly. I am very satisfied with her service and I would not hesitate to recommend her as well as Bower. Thank you so much. I have already received the funds and started to put it to the long awaited use.
Trusted Customer
I thonk that the sevice I had from Bower was A1, the company and the financial advisor went through hoops to help me in my moment of despair. They were in touch from the onset and could do enough for me, They came through for me and I can not thank then enough. The advisor even contacted me after everything went through to check that I was happy with everything, did I have anyquestions.
Trusted Customer
I dealt mainly with Lisa Hirst. She explained everything to me informing me of the different options. It should have been a simple process but there were problems with the Land Registry and a poor performance from MBNA and Lloyds Bank none of which was Bowers or Lisa’s fault. She supported me through the whole process and I had built up a good relationship with Lisa. I would recommend Bowers, and particularly Lisa to friends and family should they require this service in the future.
Mrs Pilling
I cannot fault the service received. After an initial call made by Andy, a home visit was soon set up. Andy was very knowledgeable and explained the process of Equity Release very thoroughly. There was no pressure and shortly afterwards we received the report and decided to go ahead. We used Gilroy Steel solicitors as recommended who were equally helpful and Becky's visit was really productive. The whole process was easy and simple and we have now achieved our objective of releasing equity from our home.
Trusted Customer
Excellent. Eric was very easy to get on with and very knowledgeable. He answered all my questions, and looked for the best deal for me. He also reviewed the available deals when I changed my mind about different aspects of my Equity Release deal. He again checked for better deals when my house valuation came in higher than I had estimated. He found a reduced interest rate for me. He checked in regularly with me with updates, or to ask if I had any contact from the solicitors and home surveyor. Everything proceeded easily with no hiccups and was completed quickly. Thanks to Eric and Nicky, his PA, who also contacted me with updates. It's been a very pleasant and easy transaction, with no pressure. In fact Eric kept telling me I didn't have to proceed with the deal now if I wasn't sure. That I could come back to him at a later date when I had made my mind up to proceed.
Mrs Cook
Hebburn
I recently used Bower equity release services and worked closely with our financial advisor,Ben,who provided exceptional support throughout the process. From the beginning he was incredibly knowledgable,answering all our questions with patience and clarity,ensuring We fully understood the ins and outs of equity release. Ben’s expertise and transparent approach made us feel comfortable with the decisions we were making.He walked us through each step,and his recommendations were tailored specifically to our financial situation. Bower,as a company,was professional and efficient.The whole experience was straightforward and stress-free,thanks to Ben’s seamless process. We are very satisfied with the outcome and feel confident that we made the right choice with Bower. If you’re considering equity release,I highly recommend Bower and specifically Ben. It took me months to choose the right company to represent us and I couldn’t have chosen better.
Mark & Paula
Crawley
I like the fact that James came out to see us twice, he went through everything thoroughly and took the time to answer all our questions, he left us having no doubts at all that we were doing the right thing for us. He answered all of my texts promptly and kept us updated about where we were in the process. The completion date came and James called us to tell us what to expect and what time the money would be in our account, and on the dot there it was, busy planning my retirement now😊
Trusted Customer
If you’re contemplating the strategic move to an offset mortgage, our team at Bower Private Clients is ready to assist you.
With a wealth of expertise in crafting tailored mortgage solutions, we’re here to guide you through every step of the offsetting process, ensuring it aligns seamlessly with your financial objectives. Take advantage of the opportunity to make your savings work more efficiently.
Give our friendly and knowledgeable team a call today, and let’s explore how we can transform your financial landscape, bringing you closer to your goals with each passing day.
Our specialist mortgage advisers are here to help you find the best product to suit your needs and guide you through the complexities of mortgages.
Read more about usAn offset mortgage is particularly well-suited to individuals who are higher rate taxpayers and or have substantial savings, who seek to reduce mortgage interest payments while retaining immediate access to their savings or funds. It is an ideal choice for savers who might not be receiving significant returns on their savings due to low-interest rates, as it allows their savings to reduce their mortgage costs effectively without any tax deductions.
This type of mortgage is beneficial for higher-rate taxpayers, as it offers a tax-efficient way to use savings, avoiding tax on interest that would otherwise be paid. Moreover, those who desire flexibility in their financial planning, with the option to overpay or immediate access to savings if needed, will find offset mortgages appealing.
It’s a strategic financial tool for those looking to balance savings and mortgages to maximise their financial efficiency and flexibility. If you have a savings account, we can make an offset mortgage work.
Securing an offset mortgage involves a series of strategic steps, starting with a thorough assessment of your financial situation. Initially, consulting with a mortgage adviser or financial expert, such as one of our team at Bower Private Clients, who specialises in offset mortgages, is wise.
Our team can provide tailored advice based on your savings, income, and financial goals. The next step is to research the market for lenders offering offset mortgages, comparing terms, rates, and flexibility to find the best fit for your needs.
Once you have selected a lender with the help of our team, you must gather and submit the necessary documentation, including proof of income, identification, and savings details. The lender will then conduct a credit check and evaluate your application.
If approved, you’ll be guided through the final steps, including reviewing and signing the mortgage agreement. Throughout this process, it’s crucial to consider how an offset mortgage aligns with your long-term financial plans, ensuring it’s the right choice for your circumstances.
If you have any specific questions on how your personal savings allowance can benefit your mortgage repayments, why not speak to our team today? Offset mortgages work for many homeowners, so why not pair your mortgage with a linked savings account?
Leverage your offset mortgage to lower monthly repayments and enhance your cash flow. By offsetting your savings against your mortgage balance, you effectively reduce the amount on which interest is calculated, leading to lower monthly payments.
This innovative approach not only maximises the utility of your savings but also provides greater financial flexibility. This can help you to manage your finances more efficiently.
Whether you’re looking to free up monthly income for other investments or enjoy more disposable income, offsetting your mortgage could be the key to achieving your financial goals with adaptability and foresight.
Harness the power of your offset mortgage to expedite your journey to mortgage freedom. Offsetting your savings against your mortgage balance can reduce the principal amount on which interest is calculated. This enables you to channel more of your payments towards reducing the mortgage capital.
This strategic approach can significantly shorten the term of your mortgage, allowing you to pay it off sooner than anticipated. Embrace the opportunity to achieve financial independence earlier, as an offset mortgage offers an intelligent pathway to manage and outpace your mortgage commitments with financial acumen.
One prevalent misconception about offset mortgages is that they only benefit those with substantial savings. While it’s true that the more savings you offset against your mortgage, the greater the potential savings on interest, even those with modest savings can benefit from the flexibility and efficiency these products offer.
Another misunderstanding is that offset mortgages always have higher interest rates than standard mortgages. While rates may be slightly higher, the overall interest paid can be lower due to the offsetting effect of your savings. There is even the option for interest-only offset mortgage options, but you can speak to our team to learn more about this option.
Additionally, some believe that accessing savings becomes challenging with an offset mortgage. One of the critical advantages of this mortgage is the ability to access your savings whenever necessary, offering a blend of financial efficiency and liquidity that traditional mortgages do not provide.
With access to over 500 lenders, Bower will help you release equity and create liquidity to acquire property, whenever you want to buy
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Some buy to let mortgages are not regulated by the Financial Conduct Authority.
Bower Private Clients provides impartial whole of market advice with an award winning customer service experience. There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but a typical fee of £695 will be payable on the application of the mortgage.
Speak to one of our dedicated customer specialists or arrange your free, initial no-obligation quote by calling us on freephone 0203 817 6040.
Bower Private Clients is a trading style of Bower Retirement Limited and is Authorised and Regulated by the Financial Conduct Authority. Financial Services Register Number: 451607.
Registered in England and Wales No: 5788110. Registered office: Bower Private Clients, Ongar Business Centre, The Gables, Fyfield Road, Ongar, CM5 0GA.
0808 281 2658
