How does an offset mortgage work?

Offset mortgage deals are all about directing your savings to offset or repay the mortgage interest amount that has been charged by the bank. But, make sure, it is applicable only if the mortgage and savings account is in the same bank. This means that the debtor is no longer required to pay the interest over the mortgage loan.

Here, the saving amount should be equal to the interest amount. This helps a person to stay relaxed in terms of paying heavy interest charges. Taking help of the best offset mortgage broker for proper guidance will be an added advantage for the debtor.