News Analysis: Offset – ‘Use it before we lose it’
Experts say borrowers, brokers and lenders are all missing out due to the industry’s non-promotion of offset mortgages — and it’s all about education
By
Gary Adams
13
th May 2021
12:18 pm
‘Undersold’, ‘misunderstood’, ‘complex’… the adjectives that describe offset mortgages aren’t the most flattering, but the somewhat unusual circumstances of the last 12 months may have created an environment and borrower need that could thrust the little mortgage product that could onto the centre stage.
“Through the coronavirus pandemic, over six million people in the UK have become ‘accidental savers’ due to a maintained income alongside reduced outgoings. That’s millions of people who could be looking for a way to make their savings work harder,” says Coventry Building Society head of intermediary relationships Jonathan Stinton.