Freephone 0203 817 6040

Offset Mortgages

Discover the flexibility and savings potential with our Offset Mortgage service, designed for those seeking a more innovative way to manage their mortgage and savings. By linking your savings account to your mortgage, you can reduce the interest charged on your mortgage, shortening your mortgage loan term or decreasing your monthly payments. If you want to learn more, pick up the phone and speak to our team of mortgage experts today!

Bower Private Clients- Your Offset Mortgage Experts

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. Our tailored approach ensures that 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 offset mortgages, ensuring a personalised strategy that aligns with your financial goals. Our team at Bower Private Clients can discuss anything surrounding your offset mortgage interest questions, questions about the disadvantages of offset mortgages, 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.

Speak to us to discuss your options

What Is An Offset Mortgage?

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.


Who Is An Offset Mortgage Suited To?

An 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!

Speak to us to learn more

How To Get An Offset Mortgage?

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?

Speak to us to discuss your options


What Are The Benefits Of Offset Mortgages?

Offset mortgages offer a unique blend of benefits that can be particularly attractive for savvy savers and those seeking financial flexibility. 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. Who doesn’t want shorter monthly repayments on their mortgage?

This arrangement 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.

Furthermore, offset mortgages provide 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. Your mortgage account does not have to be a financial drain!

This product encourages proactive financial management and can be especially beneficial for higher-rate taxpayers or those with substantial savings.

Speak to us to discuss your options


Common Misconceptions Of Offset Mortgages

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 offset mortgages is the ability to access your savings whenever necessary, offering a blend of financial efficiency and liquidity that traditional mortgages do not provide.

Speak to us to discuss your options


Use Your Offset Mortgage To Reduce Monthly Payments

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, allowing you to manage your finances more efficiently.

Whether you’re looking to free up monthly income for other investments or enjoy more disposable income, an offset mortgage could be the key to achieving your financial goals with adaptability and foresight.

Speak to us to discuss your options


Use Your Offset Mortgage To Pay Off Your Mortgage Sooner

Harness the power of your offset mortgage to expedite your journey to mortgage freedom. By offsetting your savings against your mortgage balance, you reduce the principal amount on which interest is calculated, enabling 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.

Speak to us to discuss your options


Why Work With Bower Private Clients For Offset Mortgage Advice

Choosing Bower Private Clients for your offset mortgage advice means partnering with our team of dedicated experts who prioritise your financial well-being. Our in-depth understanding of the offset 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.

Speak to us to discuss your options

Ready To Offset Your Mortgage? Give Our Team A Call Today!

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 an offset mortgage can transform your financial landscape, bringing you closer to your goals with each passing day.

Speak to us to discuss your options

At Bower, we will understand your unique circumstances and advise you to ensure you are receiving the best plan to meet your objectives. There are plans that allow you to make voluntary repayments and move home, subject to lender criteria. However, early repayment charges may apply in certain circumstances.


Equity release requires paying off any existing mortgage. Any money released, plus accrued interest to be repaid upon death, or moving into long-term care. Equity release will reduce the value of your estate and your entitlement to means-tested benefits now or in the future, and impact long-term care funding.


Bower Private Clients provides independent, impartial whole of market advice with an award-winning customer service experience. We work alongside our clients using a highly collaborative approach. We provide you with an initial consultation at our expense and we work with you on a short-term or an on-going basis, according to your needs. Initial advice is provided at no cost to you and without obligation. Only if you choose to proceed and your plan completes, would a typical advice and administration fee of £1,895 be payable.


If you are considering equity release, we recommend that you talk to one of our specialists before deciding if you wish to proceed.


To find out more about any of the products and the service we provide,please call us on freephone 0203 817 6040, email [email protected], use our contact form.


Please be aware that equity release may involve a home reversion plan or lifetime mortgage which is secured against your property. All features and risks are thoroughly explained in your free personalised illustration.