The Sunday Times - Last chance to make most of mortgage offsetting
Lenders including Barclays and Yorkshire building society cut the cost of offset mortgage deals by up to 0.5 percentage points last week in a last-ditch attempt to encourage borrowers to overpay before interest rates increase.
Aaron Strutt of Trinity Financial, the broker, said: “Borrowers with large amounts of cash moving through their accounts, such as landlords, often use offset loans. Self-employed borrowers who have to pay an annual tax bill can use the cash to cut the interest they pay on their debt before they have to hand it to the Revenue.”
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