In terms of savings, the benefits of making them work harder and smarter are obvious but how to do so can be confusing.
I recently wrote about how few people were overpaying on their mortgage and missing out on shaving years from their mortgage terms. Even more apparent is that people are not maximising their savings to make their money work as hard for them as it could.
April brings a new financial year and for some it will mean a spring clean of their finances and it’s a good time for advisers to get in touch with clients.
But for some people what constitutes a proactive stance to financial planning is a different matter. Putting money into an ISA is a start but for many this is the culmination of their financial dealings.
Recent research suggests up to 10 million home owners may be failing to making the most of their savings with an offset mortgage. But it’s fair to say that an offset mortgage would not be appropriate for some and others may not be eligible.
But in a low interest rate environment offset is applicable for more people in more circumstances than many consumers and brokers realise. Take half an hour to try our offset calculator on yourself and five of your clients from a range of scenarios. I guarantee at least one of the results will surprise you.
Source http://www.mortgagestrategy.co.uk/
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