Self Employed Remortgage
Self Employed Remortgage - Reasons To Go Offset
Saves You Money
With an offset self employed remortgage you have an incentive to save because saving money with an offset saves you more in the long term. An offset works by offsetting the mortgage amount against a lump sum - the larger the lump sum you can save, the smaller the mortgage and the smaller the rate of interest each month. So if you have £20,000 lump sum and a £70,000 self employed remortgage as an offset, your mortgage repayments would reflect those of a £50,000 mortgage - which means a big saving at the end of the month.
Makes You Money
Because you save money at the end of each month, you should have more money to spare - money that can be offset and reinvested against your self employed remortgage. So an offset increases your monthly savings, which in turn saves you even more money the next month. With an offset self employed remortgage you can't help but save more and more money each month. This can go towards paying off your mortgage debt early or even further investments into your own business.
Gives You Access To Money
As a self employed person, you will know that things can get tough sometimes. A bad month, lower profits and higher bills can be the difference between being able to pay your debts and your mortgage and not being able to makes ends meet. But with an offset self employed remortgage, you have access to a lump sum whenever you need it. If you invested the lump sum into a regular self employed remortgage the equity could only be got at through secured loans. But with offset, there is cash right at your fingertips for whenever you need it. Of course, taking money from the offset does raise your rate - but a slightly higher mortgage is better than losing your home altogether.
Works With Your Money
The self employed income is one that changes like the weather sometimes, and an offset self employed remortgage recognises that. It will give you the ability to overpay, underpay or maybe even take payment holidays - whatever your situation: an offset is the best flexible choice. So if think your money could work as hard as you do, talk to a broker today about self employed remortgage deals.
