£345 billion worth of savings available to UK mortgage holders through offsetting

Posted 2008-02-18

UK mortgage holders could potentially save an average of £70,000 each using offsetting. Research from Intelligent Finance (IF) has shown that UK borrowers could save a total of £345 billion.
Offset mortgages were introduced in 1997 but initially seen as a niche product; however they are popular in Australia. Cammy Amaira, Director of sales at IF said:
“In Australia, the popularity of offset has a lot to do with mind-set. Australians value home ownership as much as we do, but they don’t want their mortgage to take over their lives, making offset their ideal choice. “

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