In value 60 per cent of all offset deals were in conjunction with intermediary sales, leaving an
increase from 45 per cent during 2005, many brokers stated that
they saw 100 per cent annual growth over a time span.
CML statistician, report author Phoebe Zhang said the research
indicated provider investment in consumer education during the
first offset deals which were launched 10 years ago has paid
off, however this was a long term investment.
Zhang added;’ Intelligent Finance and Woolwich have both
spent a lot on financial awareness,’
‘The market is becoming more competitive but if the price
of offsetting went down it would also boost take-up. Lenders would like offsetting to be more mainstream.’
Offset mortgages are normally used when remortgaging, final results
indicated the average age of a borrower to be in there 40’s.
CML stated that older clients should think about whether the
total amount of cash required to complete offsetting economic
could be greater used in an investment vehicle.
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