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DanAronG
Joined: 17 Oct 2008
Posts: 103
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| Posted: Fri Mar 13, 2009 12:45 pm Post subject: Offsets are off-putting |
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According to a popular price comparison site nearly 1.9 million people are considering the option of switching to an offset mortgage in order to take advantage of the offsetting facility at a time when interest rates on savings are particularly low.
However the majority of these individuals end up rejecting the idea as they consider it to be too complicated.
Offset mortgage products usually involve a savings account linked to the mortgage account so your savings can be offset against your mortgage balance. This can result in lower mortgage payments or paying off your mortgage earlier. However many people find the calculations of how much interest they are to pay and what exactly is involved is more complicated than the savings are worth. |
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Jenie0109
Joined: 27 Jan 2009
Posts: 307
Location: chicago IL
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| Posted: Thu Apr 02, 2009 12:01 pm Post subject: |
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| thanks for the fact you posted. 1.9 million is a huge number. thanks for sharing your 2 cents regarding this. |
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