Many Britons would be better offset
Offset mortgages could benefit as many as a third of British homeowners.
Online bank Intelligent Finance (IF) said that one in three UK mortgage holders could save money through the products, which remove the value of collected current and savings accounts, including ISAs, from the value of a mortgage.
Whilst only a quarter of British consumers would have benefited from an offset mortgage in 2004, IF said that changes in market conditions increased this number to around 33 per cent in 2005.
To get this mortgage, customers would need to move all of their savings products to the bank.
Nick Robinson, IF's managing director said: 'Datamonitor has revealed that the offset and current account market grew by over 63 per cent every year between 2000 and 2004 and predicts that these products will account for 30 per cent of all UK secured lending by 2009.'
'One of the main reasons for this growth is likely to be a greater understanding amongst brokers and clients on how offset can provide benefits.' | 
