Woolwich offset mortgage deals offer total flexibility.

Woolwich offset mortgage deals are completely flexible advises the lender who says mortgage holders may choose to either reduce their mortgage term or their monthly repayments at anytime.

Unlimited over-payments are also permitted providing the mortgage is not redeemed in full.

With a Woolwich offset mortgage, interest is calculated at the same rate as the mortgage holders savings plus the mortgage balance, however savings that are used for mortgage offset do not earn interest. Monthly mortgage statements are issued detailing offset benefits on a daily basis.

Offset accounts are accessible at all times and in the same manner as an ordinary bank account. Both online and telephone banking services are available. Mortgage holders are given a current account and are issued with a debit card and cheque book.

Offset mortgages are well suited to savers, anyone with surplus cash or anyone intending to make future saving provisions.

Woolwich offsets are also beneficial for higher rate tax payers and existing home-owners who have future spending plans such as releasing equity to purchase a second home.

Offset mortgage deals may also work well for those looking to pay off their mortgage early or buy to let landlords wanting to periodically reduce their monthly repayments.

A Woolwich mortgage deals comes with the ability to offset 12 accounts, which includes 4 Barclays current accounts, cash ISA’s and several instant access savings accounts.

Also, £20,000 can be underwritten on application with interest then charged at the same rate as the mortgage.

For more details of a Woolwich offset mortgage contact Deal Direct today.