It could be time to offset a mortgage against savings

From: The Scotsman | Date: July 7, 2007| Author: Rosemary Gallagher | Copyright information

OFFSET mortgages were once regarded as only suitable for people with a substantial amount of savings as this group would benefit most from the products' tax advantages, but their popularity is becoming more widespread.

The big selling point of offsets is that savings can be used to cancel out mortgage debt and saves people having to pay tax on interest their deposits would otherwise have earned.

Because of their flexibility, many offset borrowers can pay of their mortgage in a ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

Offset mortgages may distort British debt data.
Sunday Business (London) ; ... newspaper, go to http://www.thebusinessonline.com. (c) 2004, The Business, London. Distributed by Knight Ridder/Tribune Business News. For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-65 ...
The offset option Rosemary Gallagher weighs up the pros and cons of mortgages that allow you to set your savings against your home loan
The Sunday Telegraph London ; IF THE HYPE in glossy advertisements is to be believed, offset mortgages could mean the end of your financial woes. Offsets are marketed as the most tax-efficient use of your savings which, at the same time, make it possible to pay off your mortgage in as little as 10 years, rather than the usual
Go offset - if you have the savings.(Your Money)
The News Letter (Belfast, Northern Ireland) ; OFFSET mortgages have been heavily marketed as the solution to most borrowers' needs but you should steer clear of an offset mortgage if you don't have the savings to make it count says David Bitner of Bradford & Bingley's MarketPlace. He adds: ''Many people mistakenly think that they need an
Save as you borrow How offset mortgages can help pay your home loan quicker
Mail on Sunday ; New-style 'offset' mortgages which allow you to control both savings and a home loan under a single tax-efficient umbrella are now all the rage. Britannia Building Society is the latest lender to launch such a product, following in the footsteps of Intelligent Finance, Newcastle Building Society,
Save as you borrow; How offset mortgages can help pay your home loan quicker.
The Mail on Sunday (London, England) ; Byline: JEFF PRESTRIDGE New-style 'offset' mortgages which allow you to control both savings and a home loan under a single tax-efficient umbrella are now all the rage. Britannia Building Society is the latest lender to launch such a product, following in the footsteps of Intelligent Finance,
THE WORKSTATION: Homeowners missing out on savings; MONEY TALK.(Features)
Wales On Sunday (Cardiff, Wales) ; Byline: Nick Hudson HOMEOWNERS could save thousands of pounds and pay off their mortgage years early if they balanced their savings against their borrowings, according to the adverts for all-in-one and offset mortgages. But are these claims too good to be true, or are people really paying over the
PROPERTY: Do the sums if you; subtract your savings from a home loan Offset mortgages; Less to repay, flexible features and tax breaks: these deals have much to offer homeowners. Esther Shaw looks for the catch
The Independent on Sunday ; Are we really a nation of financial dunces? Recent research from the online bank Egg suggested the national financial IQ was less than half (56) of a possible top score of 120. But a growing number of Britons are showing their financial savvy by choosing offset mortgages that let borrowers use
It could be time to offset a mortgage against savings
The Scotsman ; OFFSET mortgages were once regarded as only suitable for people with a substantial amount of savings as this group would benefit most from the products' tax advantages, but their popularity is becoming more widespread. The big selling point of offsets is that savings can be used to cancel out
New type of mortgage helps your savings to work for you.(Features)
The Journal (Newcastle, England) ; Byline: By Kevin Robinson It's important to save. But everyone who has their savings safely put away in a bank or building society account knows that low interest rates mean savings are earning less than they used to. However, there is a new way of making your savings work harder by breaking away
PROPERTY: Offset mortgages - Flexible home loans don't fit all profiles Borrowers love them, but experts say they only work if you're wealthy. Melanie Bien hears both views
The Independent on Sunday ; Offset deals may be all the rage in the mortgage market - but two leading brokers argue that they aren't suitable for most borrowers. Despite having been introduced just six years ago, offsets account for one in 10 of all mortgages, partly because rates have improved so dramatically during the past