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If you are seeking ways to make more out of your money, it might be time to consider offset mortgages – they will save you money, help you pay off your debts faster and improve your credit score.

Offset works by putting money up alongside your mortgage, but not into your home. For example, if you have £100,000 mortgage, but have £20,000 in savings and investments, that £20,000 can be offset against the £100,000 so as you only have to pay the interest on £80,000.

It makes business sense to use your money with your offset mortgage. Many ventures will have numerous income streams, all of which can be used to make your mortgage repayments cheaper. You could use savings accounts, ISAs, current accounts and corporate accounts to keep your mortgage as low as possible.

Also, it's a tax-free saving. Because all the money you invest into an offset mortgage doesn't accrue interest, you do not have to pay tax on the lump sum, but you still make a saving. This affectively means you have a tax-free saving, every month with offset mortgages.

Offset also helps you when times are good and when times are tough. Because they are flexible, you can overpay when the month has been good, underpay if things haven't gone so well and you can even take a payment break. Also, the offset lump sums are accessible at any time, so if you need cash fast, it's always there for you.

Talk to a mortgage adviser about opting for offset. By working your money harder, your business or self employed venture will only improve.

Keep up with the latest news and comments on Self Employed Mortgages at the Self Cert Mortgage Blog