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.
Andrew Card at Bower Home Finance was recommended to us by Jake Sumner a mortgage advisor that our son David had used. This is the first time that my Wife and I explored equity release and had heard some negative views about it from different sources and we have to admit we approached the process with some naivety and caution. From the very start Andrew was extremely helpful and informative no matter how many questions we put to him. We sometimes went back to Andrew with the same questions and at all times Andrew showed great patience and took time to explain our queries clearly with no 'jargon' or confusing detail. Andrew made the whole process comfortable and understandable from start to finish and also recommended a very good solicitor for the necessary legal advice required. We would have no hesitation in recommending Andrew Card and Bower Home Finance.
Mr & Mrs Nash
South Shropshire
The service received from Bower was excellent and my advisor, Vanessa Carver, was very knowledgeable on the whole process. The meeting I had with her was very thourgh and I was very impressed with the way we discussed my situation and aspirations. I would recommend Bower to my friends and colleagues if they ever decided to consider equity release, Kind regards and thank you again for the service provided RJ Martin
Trusted Customer
First class service from start to finish. Vanessa couldn’t have been more helpful, her communication and the information she provided was excellent. She kept us updated throughout the process and got us the best product for our needs, even finding out through her research that I am now entitled to Council Tax support, hence saving me money throughout the year too! Vanessa is a credit to your company and I would have no hesitation in recommending her to anyone looking to explore equity release in the future.
Mr Beard
Desborough
Following my initial online contact I received a phone call which enabled me to start the process with confidence. I did not feel 'pushed' or 'managed' in any way. I was able to have face to face meetings at home so that I could clarify issues that I was unsure about, and from the beginning Steve was excellent at informing of updates via phone and email. He also helped by researching local surveyors for me so that I could quickly and easily make my selection. Throughout the process he was cheerful, positive and a lovely person to work with!
Trusted Customer
We did our research and decided on Bower because it stood out; I believe it was the smallest company we looked at and hoped for a more personal service, than some of the ‘big boys’, which Bower certainly lived up to. Our enquiry quickly led to an appointment with Andrew Card, who was so knowledgeable and explained everything, in language that we understood. He then did his research and came back with our options. Although we had a couple of hiccups, Andrew stepped in and sorted them out without any fuss. We have now completed our equity release and would like to thank Andrew and Nicky for all their support. We would certainly have no hesitation in recommending Bower, and of course Andrew Card, to anyone.
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
