Current Account Mortgage
This is a development on the offset mortgage that merges your mortgage and current account together. As money goes into your current account, for example your monthly salary, this is offset against your mortgage balance, so reducing the interest you owe. The lender will agree with you the minimum amount you should ideally leave in your account each month. If you leave more in, you will pay less interest and may be able to pay off your mortgage earlier. If you leave less in, you will pay more for your mortgage.
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