yank
Apprentice
Joined: 07 Feb 2004
Posts: 5
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 Posted: 12/30/07 - 05:10 Post subject: |
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| I have recently been thinking about taking a mortgage some time ago for certain amount of money and buying a flat. I was thinking about offset mortgage, which seems best for my needs and financial situation. However, I would like to know what kind of interest I will be paying on it. If anyone could help, that would be great. Thanks in advance. |
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sigfried
Apprentice
Joined: 31 May 2004
Posts: 8
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| Posted: 01/29/08 - 00:54 Post subject: |
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| Taking the offset mortgage is great, as it is one very flexible type of loan and the calculations related to it are relatively easy. It is very common for buying domestic properties, too. You will be able to keep your mortgage debt, and your current account separately. Also, because of calculating the interest, both of these will be jointly put and your interest will go like this. Money in your current account (and savings, if you have some) will be set against the balance of your mortgage, so you will be paying reduced interest to the amount that is outstanding. As you can see, it is a great deal, and you should definitely choose it. |
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