How is this calculated
The figures given in this tool are for example purposes only. The key to saving money depends on your circumstances, interest rates,
accounts you choose to include in the Offset Service or Business Offset Service and how you choose to manage your accounts.
The examples given assume that for the duration
of your mortgage:
- the specified savings and current account
balances don’t change
- the monthly mortgage payment doesn’t change
- your mortgage type is capital and interest
- your mortgage term is 25 years
- you are a tax payer
Mortgage interest saved
This compares the interest payable on the full
balance of the basic mortgage without offsetting against interest payable on the
reduced mortgage balance as a result of offsetting. It does not take into
account the interest you would have received on your savings account over this
period.
For a more detailed illustration which takes into account your specific mortgage details, please use the Offset Calculator
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