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use savings without locking them away

Published: 28/02/2010

Sunday Express (Financial)

Offset mortgages, where savings are used to reduce the amount of interest, are for those who want to cut their repayments while retaining access to their cash.
 
Moneynet.co.uk’s Andrew Hagger adds that an offset deal is particularly attractive when savings rates are low, and points out that as no credit interest is actually paid on your savings, no tax is deducted.

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Last Updated: 25-05-2012