By degrees, yes. But if you have a £150k mortgage and you fixed last year at 1% £125 a month in interest might not make any difference to your lifestyle or stress levels. Indeed you might feel more comfortable having £150k in the bank.
The offset mortgage is a catch all.
The monthly bills would be over £500 including the capital repayment, what have I missed?
The £375 bit comes out of the £150k and is still yours, so it’s not a stressor. Or doesn’t if you’re doing interest only.
@leggy_blonde started
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By degrees, yes. But if you have a £150k mortgage and you fixed last year at 1% £125 a month in interest might not make any difference to your lifestyle or stress levels. Indeed you might feel more comfortable having £150k in the bank.
The offset mortgage is a catch all.