Coffeehouse Thread

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Financial Fun

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  • User profile image
    Massif

    We're looking to remortgage the house (as the nice fixed rate deal has expired and the rates have shot up.) and I've tempted by offset mortgages. Mainly I'm tempted because it would simplify my banking life considerably to be able to dump everything in the current account and know it was still saving me quite a bit of money.

    Does anyone use these kinds of accounts? Any recommendations / warnings?

    We've still got 23 years left on the mortgage, so there's quite a sum left on it, but we're earning way more now than we were when we bought the house, so I'm hoping to be able to make a large dent in the interest we're paying.

  • User profile image
    Tensor

    Consult an IFA.

    I am not an IFA but when I last asked the same question of ours he said it was not worth it unless you have a large chunk of capital. This is merely an anecdote and does not constitute advice.

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