Login
Show testimonials

Offset Mortgages In Focus  

This blog focusses on a less common mortgage type that can be beneficial to some people. 

The product is aimed at those that have high savings levels and the ability to save regularly from surplus income.  

A savings account called an Offset Saver Account is set up alongside your mortgage. 

The money held in the savings account is used to ‘offset’ the mortgage interest charges on the equivalent mortgage balance, saving you money & in some cases, taking years off the mortgage term. 

Key advantages of an offset mortgage:  

  1. You do not pay mortgage interest on the balance equal to the amount in your offset savings account. See image below for an example: 
Mortgage Balance is £200,000 
Savings account has a balance of £30,000 You pay interest on £170,000 of your mortgage 

So mortgage interest is calculated as: 

£200,000 – £30,000 = £170,000 

If £5,000 was withdrawn from the savings account, this would happen to the offset mortgage: 

Mortgage Balance is £200,000 
Savings account has a balance of £25,000 You pay interest on £175,000 of your mortgage 

So mortgage interest would be recalculated as: 

£200,000 – £25,000 = £175,000 

  1. Interest is calculated daily & applied to the mortgage account daily. 
  1. You can choose how the offset account works and can swap between ‘reduce mortgage term’ & ‘reduce mortgage payments’. 
  1. You retain access to your savings balance and can withdraw funds if needed. 

Key disadvantages of an offset mortgage: 

  • You do not earn interest on your savings. 
  • There is an upper limit allowed in the offset savings account (usually £1 million). 
  • The mortgage interest rate is often higher than a standard mortgage. 

The key to choosing the right product: 

Get expert advice. We have a detailed conversation with our clients to ensure they end up with a mortgage product that suits them. We capture details of savings to help us identify someone who may benefit from an offset mortgage. 

Take the next step 

If you would like more information about offset mortgages you can book a meeting with one of our advisers, by calling 01455 63 61 63 or clicking here.  https://onerooffinancial.co.uk/contact/

Your home may be repossessed if you do not keep up repayments on your mortgage. 

Blog written 14/04/2025 

The information contained within this blog was correct at the time of publication (14/04/2025), and is subject to change. 

Share:

Facebook
Twitter
LinkedIn

More Posts

Landlord’s Insurance 

As a landlord, ensuring that you have good quality landlords insurance is vital. This blog will break down all the elements of landlord’s insurance, and

Met Life Childshield In Focus: 

We are delighted to have access to Met Life’s award winning Childshield policy.  Until now, a parent has had to take out cover for themselves

Why not try our podcast?

We release podcasts every week, click the button below to tune in now.

Check out our podcasts

Tune into our podcast.

Why not tune in and listen, to learn about what’s happening in the world of mortgage & insurance.

Unavailable

Read our blog.

If you’re a fan of reading instead,
you can read any of our blog posts as and when you please, we upload regularly.

Visit blog

Complaints procedure.

We hope you will be thrilled with our service, but we understand things can go wrong from time to time. For information on how to make a complaint, please click the button below.

Read more

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Our Standard fee is £297 which is payable upfront and not refundable. Some scenarios (adverse credit, self-build, small loan sizes) incur a higher upfront fee of £497.

One Roof Financial LLP is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of First Complete Limited which is authorised and regulated by the Financial Conduct Authority.

Registered Office: 20 Munnings Drive, Hinckley, Leicestershire, LE10 0LG

Registered in England & Wales. Company Registration Number: OC340536

We’re a long established firm with vast knowledge & experience when it comes to mortgages & insurance. You have just found your new adviser!

Instagram Facebook-f Linkedin

Explore

Mortgages

Protection

Business Protection

Client testimonials

See what our clients have to say about us! Use the arrows to navigate through our testimonials.

Mrs H, Burbage

What were you most impressed with? The human aspect . When so many people are only contactable via email. To have a person to talk to is amazing.

Mr Cook, Coventry

Communication has been fantastic, Caroline is very helpful in answering any questions quickly and honestly.

Sam S, Leics

What are you particularly pleased with? Caroline’s commitment to me as a client and her attention to detail is second-to-none.

L C Guildford

We highly recommend Caroline and the team to anyone in need of mortgage/insurance advice, and feel very grateful to have been looked after so well during our house buying journey. We know that we are in very safe hands moving forward.

C L Surrey

Communication was excellent throughout the process, with Caroline providing regular updates to keep us informed every step of the way. Her professionalism and approachable manner made what was a stressful process for first time buyers feel smooth and straightforward.

L C Guildford

We had a fantastic experience working with Caroline and the team at One Roof Financial for our mortgage and insurance. From start to finish, Caroline was attentive, friendly, and incredibly knowledgeable. She took the time to explain everything clearly, ensuring we fully understood our options and felt confident in our decisions.

A & J, Burbage

Thank you so much for your support with our mortgage. As always, you are a super star!

C W, Hinckley

10 stars for Caroline. She helped us every step of the way with purchasing our first house. She gave us all the information we needed, explained everything to us in layman terms so we understood. Answered all of the questions we have and made everything much easier! We would have been so lost without Caroline and we cannot thank her enough for all the hard work, help and support she gave us! Thank you!

FBW, London

Caroline was great from start to finish. Professional, knowledgeable and very timely with responses and getting all the paperwork sorted – not only for the mortgage, but life insurance, critical illness and all the other things that come with buying a house! I have already recommended her to friends who are looking to move in the new year.

NI, Hinckley

Caroline was great and guided me through the whole process of my remortgage and life insurance. I would highly recommend 100%.

Miss G, Nuneaton

Amazing communication and easy to talk to. Took into consideration my budget and kept me up to date with the process throughout.

IS, Hinckley

We have used Caroline for many years as we find her to be very professional. She is very helpful and informative which makes the whole mortgage selection and choosing the correct related services stress free. We recommend One Roof Financial 100%

Matt K, Hinckley

Service and advice is always top notch!

S Green, Leicestershire

Caroline is great and explained the whole process really clearly. It was great having her there to sort things for me as my application wasn’t completely mainstream due to my senior years and I’m so happy and thankful to be in my own place again. Thank you so much :)

C Kirton, Warwickshire

Caroline has been clear, considerate, and extremely helpful every step of the way. Her expertise and professionalism have been second to none and have made my partner and I feel very comfortable from day 1.

Miss Dilkes, Leicester

The overall process was very easy. Caroline explained everything to us and went through every detail regarding getting a mortgage etc. highly recommend.

SG, Leicester

Caroline is extremely efficient and knowledgeable and I feel completely confident that I’ve got the right product for my circumstances. Caroline has been great throughout the whole process so far.

SJ, Leicestershire

Caroline is very friendly and professional, very efficient too. She offered great advice and explained everything clearly.

HG, Warwickshire

Absolutely amazing! I first signed up to one roof about 18 months ago after struggling to find a mortgage with high street lenders. The amount of support and guidance I was given was second to none. Thank you so much Caroline!

TA, Leicestershire

We have been really happy with the help, advise and support we have received from Caroline of One Roof Financial, she is very knowledgeable and kept us informed all the way through our mortgage process. We would definitely recommend to friends and family.

RO, Hampshire

Fantastic service with clear guidance and communication throughout our remortgage process, specifically when the mortgage rates dropped twice within 2 months, One Roof Financial contacted us promptly with a new product reflecting the new price, which saved us money! I would definitely recommend One Roof Financial to friends and family.

SH, Broughton Astley

I’ve been using Caroline since I bought my first house in 2014 and honestly wouldn’t go anywhere else. Apart from being just a lovely person through and through, she’s very knowledgeable and helpful in all aspects of the process. Mortgages or insurances. I’m always kept up to date and even reminded about things I forget!

AE, Gloucestershire

Caroline is so lovely and patient. She explains everything in detail, as many times as you need, and is very organised. I would definitely recommend.

Mr G, Burbage

Excellent service. Caroline is friendly, approachable and explains everything in simple terms. She is also obviously extremely knowledgeable and considers all the angles. I never felt any pressure to take any particular decision or buy any particular product. I have been a customer for years and will continue to be for many more!

Mr & Mrs E

Good communication throughout and timely responses. Always a great service! Thanks Caroline!

Mr I, Stoney Stanton

“Any actions we needed from them were dealt with promptly and diligently – which was refreshing, as not all the other moving parts in buying a house always run so smoothly. One Roof got all their bits spot on though – thoroughly recommend”

Mr S

“Product knowledge was second to none. We also had some questions/concerns regarding implications of being self employment etc the Caroline was unstably able to help with. Also very impressed with the speed of everything.”

Mr M, Shepshed

All in all a wonderful experience. You are friendly, helpful and provided a top notch service! I couldn’t have asked for more.

Mr S, Loughborough

“Always feel valued and listened too and made to feel part of the decision process.”

Mr K, Hinckley

What were you most impressed with? – “The personal touch”