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[quote][i]Originally posted by AndyKent[/i] Offset means you keep cash in a separate account. Rather than earning any interest on it like you usually would, instead you don't pay any interest on the same amount off your mortgage. For example, you buy somewhere costing £100k, you put down £20k deposit and keep £30k in your offset account. You only pay interest on £50k of the mortgage. You don't earn anything off your savings, but you have access to spend it if you need to. Save you a bloody fortune in the long run and means you don't tie up all your cash. [/quote]
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