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Offset Mortgages Peterborough
Offset mortgages are popular here in Peterborough and around the UK for those with generous savings or current account balances. They essentially allow you to reduce the amount of interest you pay on your mortgages by combining it with your savings or current account balances, potentially shrinking your monthly repayments and even your mortgage term.
They’re not for everyone - the larger the amount you have in savings, the more attractive an option they become - but they can be a no-brainer depending on your circumstances.
We’ll go into more detail on how these mortgages work below, but if you’d like to speak to somebody directly about offset mortgages and receive expert first-hand advice, you’re in the right place.
Here at Derngate Wealth Management, we’ve helped countless individuals, families and investors choose the right mortgage for them. Our mission is to make the process of finding, choosing and applying for a mortgage as swift and painless as possible - all while saving you money.
To book a free initial consultation, speak to the team at Derngate Wealth Management today.
So, how do these mortgages work? It may sound a little confusing at first, but it’s actually very simple. First off, you’ll have to stick with the same provider for both your mortgage and your current account or savings account.
If you take out an offset mortgage for £250,000 and you have £50,000 in your savings account, you’ll then only have to pay interest on £200,000.
The only snag with this type of mortgage is that the base interest rate is often higher, so you need to have enough money saved up to make this a worthwhile choice.
There are numerous offset mortgage options available from a variety of lenders, and here at Derngate Wealth Management we can help you find the right option for you.
We will also take the time to consider your personal circumstances and advise on whether we feel this is the best mortgage type for you. And if it’s not, we’ll make alternative recommendations to make sure you’re totally satisfied with the package you end up choosing.
If you have more questions about offset mortgages, then you can speak to our team by calling us on 01733 595050
Based on the outskirts of Peterborough, we’re easy to access from within the city as well as nearby towns like Huntingdon, Yaxley, Whittlesey and St Neots.
Heading up Derngate Wealth Management is David Whitwell, who has almost two decades of experience as a mortgage advisor and broker in the local area.
In that time, he’s worked with everyone from first time buyer and families through to experienced buy to let investors, taking into account their individual needs and circumstances to recommend a mortgage deal which ticks all of their boxes.
We have an outstanding reputation in the area, and always go above and beyond to present a solution which is a great fit for your goals and requirements.
We’ve worked with an array of clients over the years, including the self-employed and those with a poor credit score.
We don’t disappoint - you can read some of our testimonials to see for yourself.
We make everything simple: complex jargon and confusing terminology doesn’t help anyone, which is why we ensure our advice is transparent and easy to understand.
We can help you at every step of the process - if you’re a first-time buyer and aren’t sure of how the mortgage application process works, we’ll help you fill in the required forms and submit them to the lender for you.
For straight-talking, transparent and pragmatic mortgage advice with no hidden fees, speak to Derngate Wealth Management today.
I’ve never applied for a mortgage before - should I see a mortgage advisor?
It’s always worth speaking to a mortgage advisor, whether you’ve had numerous mortgages in the past or none. Our advice is entirely tailored to you, and you don’t need to have any prior knowledge before visiting us - we’ll guide you through the whole process.
Are offset mortgages popular in Peterborough?
Among those with healthy savings or current accounts, absolutely - they can be a great way to lessen the burden of taking on a mortgage.
What is discussed at the initial consultation?
We will talk to you and learn about your circumstances, building up a picture of which mortgages would suit you best. We’ll also take into account your requirements to help narrow down the search. If you choose to proceed, we’ll then set about finding a mortgage which suits you to a tee.
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In partnership with Derngate Wealth Management Stamford.
The information and/or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK