Borrowers are recommended to consider a flexible or offset mortgage to take advantage of the potenti...
Borrowers are recommended to consider a flexible or offset mortgage to take advantage of the potential tax-planning benefits they offer. A key advantage for taxpayers with these products is that their savings, which would normally incur tax on interest, will be offset at the mortgage rate, with no tax to pay.
Mark Harris, director of Savills Private Finance, said: ‘As the end of the tax year approaches, there is a lot of pressure for people to put their tax affairs in order. Offset mortgages are not traditionally thought of as a tax-efficient scheme, but as these products and their advantages become better understood, we would expect them to become more popular.’
