Payment options
Offset plus can benefit you in a number of different ways, depending on your circumstances. You can choose from the following options:
If it’s your first home, you might just want some breathing space until you get used to meeting your monthly bills.
Offset plus can help you here because the more savings you have linked to your mortgage, the lower your monthly mortgage payment will be. So by counting your savings, plus those of your family and friends, against your mortgage, offset plus allows you to achieve a lower monthly payment.
Please note that your monthly payment will be calculated at the start of the mortgage taking into account the linked savings. This monthly payment will only be automatically reviewed once a year. To take advantage of the increased savings balances immediately you will need to contact us.
Gross payment option
On the other hand, you might just want to pay less mortgage interest and therefore potentially pay your mortgage off quicker. Please note that you will need to contact us if you want to pay your mortgage off quicker using this option.
Whatever your reason for using offset plus, you also get the benefit of knowing you haven’t taken money from those close to you. They’ve given you a hand, but they still have their money if they need it and it’s accessible to them at any time.
