What To Expect With An Offset Remortgage

Like other offset mortgages, the offset remortgage is much in demand, as UK home buyers wake up to the benefits of flexibility. The best offset remortgage deals have all the flexible features of other offset deals, with a couple of added incentives for remortgage customers. With flexible remortgages, home buyers can expect to save on a couple of fees that other home buyers might have to pay. These include legal fees and valuation fees, for example. Some offset remortgage lenders also wave arrangement fees and many may offer insurance products as added incentives for flexible remortgage customers.

An offset remortgage will also usually be portable, which means that if buyers move to another property they can move the mortgage without incurring additional mortgage fees. And an offset remortgage will also allow borrowers to overpay, either by paying in a lump sum to the mortgage account or by making a regular overpayment. Offset remortgage customers should also look out for underpayments, as this might be a useful feature if circumstances change. However underpayments and payment holidays could increase the mortgage term and/or the total amount payable.

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