Offset mortgages

A current account mortgage combines a mortgage with one, or more, of the following: a current account, a savings account, a credit card and an unsecured loan; all within one account.

An offset mortgage works in a similar way except that each account is kept separate, but has a link in that credit balances in savings and current accounts are offset against your mortgage (debit) balances. This innate tax advantage coupled with the flexibility of the account are both key advantages of offset mortgages and current account mortgages.