If you have any savings or have more money than month at the end of each month, you need an offset mortgage, in general. A mortgage broker will need to do a forensic fact find on your specific circumstances in order to recommend what's best for you.
Always talk to a broker, they will have access to providers not available to the public. Banks can only sell their own products and we all know how well the banks look after you! I'm constantly amazed at how people shop around for a loaf of bread or a tank of fuel but don't shop around for the biggest purchase of their lives. Of course there are some lenders who only deal direct with the public, e.g. HSBC. However, I have had clients who have come to me asking me to find a deal for them as they are near suicidal trying to deal with some direct lenders!
Not wishing to put a downer on things but I reckon we are in for another fall post election, we are in an artificially created boom. London is a country in itself and I hope that raising interest rates wont be used to cool the London market as this is what is perceived to be the problem. These houses are bought with cash as a safe haven by foreigners because believe it or not, on the international stage London properties are cheap compared with say New York, Tokyo, Paris etc. So there is no connection with mortgages and interest rates whatsoever.
The danger is that no one really knows what to do about the UK housing market so we will end up with some idiot politician deciding on something which will just Fcuk things up further. We all know what the problem is and we don't need Mark Carney to tell us. Not enough houses and never will be.
Always talk to a broker, they will have access to providers not available to the public. Banks can only sell their own products and we all know how well the banks look after you! I'm constantly amazed at how people shop around for a loaf of bread or a tank of fuel but don't shop around for the biggest purchase of their lives. Of course there are some lenders who only deal direct with the public, e.g. HSBC. However, I have had clients who have come to me asking me to find a deal for them as they are near suicidal trying to deal with some direct lenders!
Not wishing to put a downer on things but I reckon we are in for another fall post election, we are in an artificially created boom. London is a country in itself and I hope that raising interest rates wont be used to cool the London market as this is what is perceived to be the problem. These houses are bought with cash as a safe haven by foreigners because believe it or not, on the international stage London properties are cheap compared with say New York, Tokyo, Paris etc. So there is no connection with mortgages and interest rates whatsoever.
The danger is that no one really knows what to do about the UK housing market so we will end up with some idiot politician deciding on something which will just Fcuk things up further. We all know what the problem is and we don't need Mark Carney to tell us. Not enough houses and never will be.