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Carol and Tony have a £150,000 mortgage, £23,000 in a Business Instant Access Reserve savings account and an average Business Current Account balance of £7,000. Instead of receiving interest on their business current account and savings, they offset the balances against their personal Offset Flexible Mortgage so they only pay interest on £120,000. They save £80,411 and pay their mortgage off 6 years and 7 months early. |
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