Choosing to over pay your mortgage can cut years off the term and save thousands of pounds in interest.

Think of an offset mortgage like an investment - every extra payment you make is the same as earning interest at the mortgage rate but without any tax to pay.

For a mortgage rate of 6% a higher rate tax payer would have to earn 10% gross interest to earn the same amount of interest that can be saved through an offset mortgage - and there is no investment risk!

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