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Current Account Offset Mortgages Your mortgage is combined with your current account or savings account. This means you can use the credit in your account to reduce your debt, and therefore pay less interest on your mortgage. For this type of mortgage, you should have savings of between 10 and 20% of your mortgage. You can choose between a fixed, variable or discount rate. Pros:
Cons:
Disclaimer: This material is for general information only and does not constitute investment, tax, legal or other form of advice. You should not rely on this information to make any decisions. Always obtain independent, professional advice. |
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