Being independent means just that! We bring the high street into your living room. Can your high street bank match our level of service? The Knowledge Report from Prior Knowledge - the best way to secure your next mortgage. Call us on 0800 804 8464 and find out how you can get your own personal Knowledge Report today. Prior Knowledge home | Offset loans are all about making your money work harder for you and potentially saving you thousands of pounds in interest over the term of your mortgage. By using monies held on deposit in a smarter way you can not only save tax on interest, but also reduce your mortgage balance and therefore your monthly outgoings. With a traditional mortgage each month you get charged interest on your mortgage balance and earn taxable interest on your deposit accounts and current accounts. A simple illustration of the benefits With an offset mortgage you keep the same balance on mortgage, but link deposit accounts to the loan (which varies between lenders) that then reduce the total interest chargeable on your mortgage. Also, as you don’t receive any interest on your deposit accounts you don’t pay tax on the amount being offset. Even if your deposit balance changes on a daily basis, as most offset mortgages have interest calculated on a daily basis, you still get the benefit whilst the balance is there. Some lenders also allow you to link your business deposit accounts to your residential mortgage, so if you keep money on account for the HM Revenue & Customs for your VAT bill this could be used in a very tax efficient manner to reduce your monthly mortgage payment. Best of all if you need access to the monies on deposit you can at any time (usual banking timescales apply) transfer monies between accounts, but you are not locking the funds away ‘in’ your property. All our advice is put in writing in the form of the Knowledge Report. This document will form part of our advice to you. Call Prior Knowledge today on 0800 804 8464 and make a convenient appointment in the comfort of your own home. Your home may be repossessed if you do not keep up repayments on your mortgage For mortgage advice we can be paid by a commission or fee of usually 0.4% Prior Knowledge - bringing the high street to your home | 
